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Every Solana (SOL) Holder Should Know This Level
Solana (SOL) is now testing a price level that could shape the rest of its 2025 trajectory. After climbing over 40% from its June lows, SOL is back at the $190 mark - a level that is not just technical resistance but also where the largest cluster of cost basis sits, according to new data from Glassnode.
The cost basis distribution heatmap shows that over eight million SOL was acquired between $189 and $191, making this zone one of the most heavily contested on the entire chart. It represents the last major area where buyers entered en masse before SOL broke down earlier in the year
Now, those same positions are either at breakeven or slightly in profit - creating a possible supply wall as some look to exit.
The 12-hour chart is also in line with that idea SOL has been on a clean V-shaped recovery since late June, getting back to support zones around $155 and $171 with confidence. Now, it is almost hitting the exact range shown by on-chain data - the same level that capped rallies back in February and March.
The way the historical chart resistance and cost basis data overlap makes $190 more than just another round number. It is where sentiment gets put to the test. If it breaks above, it could mean that things are turning from recovery to a full-on breakout
But if it is rejected, it might lead to some short-term profit-taking.