Solana drops below 77 dollars support as demand weakens

Solana slipped beneath the crucial 75 to 77 dollar support zone after on-chain data revealed weak demand below this level. Analysts now warn that lower price areas are once again in focus, raising questions about whether SOL can stabilize above key buying zones.

On-chain data highlights key support range

According to Glassnode data shared by Ali Charts, the bulk of Solana investor accumulation is clustered between 77 and 83 dollars. This range has become one of the most closely watched support zones on SOL’s price chart, reflecting its significance to traders and long-term holders alike.

Glossary: URPD is a distribution model that shows at which price levels existing coins last changed hands on-chain. Analysts use URPD data to identify investor cost clusters and to map out potential support and resistance levels.

The data reveals marked supply clusters at 82.60 and 85.55 dollars, indicating many SOL investors purchased at these levels. Moreover, additional concentration near 79.65 dollars suggests the 77 to 80 dollar region serves as a broader and more significant support band.

Ali Charts notes that the 77 dollar level is especially critical for Solana; as long as price stays above this mark, the majority of large investors remain out of loss territory.

In contrast, on-chain distribution below 77 dollars appears sparse, hinting at a lack of robust interim supports just under current prices. The next prominent support levels in the historical data are found around 53.10, 35.40, and 23.60 dollars.

LevelKey significance77 to 83 dollarsPrimary accumulation zone for investors53.10 dollarsNext major historical buying area35.40 dollarsLower support area23.60 dollarsDeeper historical support

Weekly chart signals a weakening below 75 dollars

In the weekly chart, SOL’s price dipped to around 73.77 dollars, falling below the previously tracked 75 to 77 dollar support zone. A chart shared by EllioTrades suggests if the lost support is not reclaimed, the next major downside risk could extend to the 27 to 28 dollar region.

That same chart highlights the nearest resistance between 83 and 95 dollars, while the former support zone is reflected in the 75.33 to 75.36 dollar range. Remaining under this threshold signals continued weakness in the short-term technical outlook.

The weekly chart posted by EllioTrades indicates that if Solana fails to reclaim broken supports, the next key lower band may be 27.29 to 27.62 dollars.

The wide downside area identified in recent technicals coincides with zones that provided long-term support in prior cycles. Analysts stress that reversal would first require reclaiming the 75 to 77 dollar band, followed by a breakout into the 83 to 95 dollar range. Until these levels are recovered, further downside risk will likely remain a concern for $SOL investors.

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