Solana Air Gap: Analyst Says No Major Support Level Until $24

Overview

An analyst has highlighted a significant supply “air gap” for Solana, indicating that there are no major support levels until much lower than the current price. This analysis suggests that the cryptocurrency may face challenges in maintaining its value in the near term.

Analysis of Solana’s Support Levels

In a recent post, analyst Ali Martinez discussed the current state of Solana’s support from an on-chain perspective. He explained that the potential for any price level to serve as support or resistance is determined by the amount of coins that investors last purchased at that level. This is important because holders often regard their cost basis as a critical price point and are sensitive to price movements that approach it.

When the price retests a level from above, holders may choose to buy more, believing that the decline is temporary and that they will eventually see profits again. Conversely, if the price retests from below, it may encounter resistance, as holders may panic and sell at their break-even point to avoid further losses.

Martinez utilized the UTXO Realized Price Distribution (URPD) data from Glassnode to illustrate the current supply cost basis distribution for Solana. The analysis revealed that the largest supply zones are concentrated above $144. Below this threshold, there are relatively thin clusters of demand, with Martinez noting that there is “barely any meaningful demand until $24.”

Given that Solana has already slipped under the last major support level of $144, the future price movement of the cryptocurrency remains uncertain, particularly due to the absence of substantial on-chain support.

Impact on the crypto market

• The identification of an air gap below $144 suggests potential volatility for Solana, as there are limited support levels.
• The lack of demand until $24 could lead to further price declines if the market sentiment turns negative.
• Comparatively, Bitcoin’s more even supply distribution indicates stronger support levels, which may draw investor attention away from Solana.
• The current analysis highlights the importance of on-chain metrics in understanding price movements and market behavior.
• The situation underscores the need for investors to be cautious when considering positions in Solana, given the potential for significant price swings.

Updated: 11/15/2025, 12:43:22 PM