Solana Builds $189 Support Zone As 24.5M SOL Accumulate On-Chain

The Glassnode heatmap shows 24.5M Solana accumulated between $189 and $191 forming a strong on-chain support base.

Analysts identify the $189 range as a major buy zone reflecting growing investor confidence and network accumulation.

Long-term holders strengthen their positions at this range signaling steady market structure amid recent price volatility.

Fresh on-chain data shows that Solana has formed a significant support level near the $189 price range. The latest cost basis distribution heatmap from Glassnode reveals that approximately 24.5 million SOL were accumulated between $189 and $191, signaling strong investor interest at this level.

The heatmap tracks the aggregate distribution of token supply across various price points to identify accumulation zones. The dense clustering around $189 indicates that large numbers of holders established positions at this level, effectively turning it into a major support base.

Market analyst Ali shared the data on social platform X, describing the $189 range as “a major support zone to watch.” The accompanying chart illustrates how this concentration aligns with previous demand areas where long-term investors accumulated tokens during periods of volatility.

On-Chain Metrics Indicate Structural Strength

The visual representation highlights a consistent band of cost basis density across late August through October 2025. This pattern suggests sustained accumulation by both retail participants and institutional holders during price corrections. The presence of 24.5 million tokens in that narrow range further strengthens Solana’s market foundation.

Analysts interpret this clustering as evidence that many investors view $189 as fair value for long-term positioning. Historical data from Glassnode indicates that such clusters often act as price stabilizers when markets experience downward pressure.

The color-coded density in the heatmap corresponds to the volume of tokens held at specific price ranges. Warmer colors denote higher concentrations of holdings, and in Solana’s case, the zone between $189 and $191 exhibits a pronounced accumulation layer.

Market Relevance and Investor Implications

This accumulation activity arrives during a period of elevated market volatility and shifting investor sentiment across the broader cryptocurrency sector. As of late October, Solana’s price fluctuations have mirrored those of major digital assets but with distinct resilience near the $189 threshold.

The consolidation of large holdings within a tight price band provides insight into trader behavior. Investors accumulating within these parameters typically anticipate longer-term appreciation rather than short-term speculative gains. The pattern aligns with previous accumulation zones seen during earlier stages of Solana’s growth cycles.

Market observers now consider $189 a pivotal level that could shape Solana’s near-term price trajectory. Should market conditions weaken, this cost basis cluster could function as a support anchor, limiting downside movement. Conversely, sustained stability at this level could serve as a launch point for subsequent rallies.

The on-chain activity provides clear evidence of confidence in Solana’s current valuation. Glassnode’s data points to the likelihood that this support range will remain critical in determining whether Solana maintains its structural uptrend through Q4 2025.