Solana Hits $236: Can Bulls Push Through the $239 Resistance Barrier?

Over 23M SOL were last moved near $239, creating a strong resistance zone as Solana approaches its all-time high price range.

Accumulation between $144 and $203 forms a solid support base, revealing strong conviction among earlier investors.

Long-term holders have started to sell, pushing caution into the market even as bullish structures point toward $250 and beyond.

Solana is charging toward the key $239 resistance level, trading at $236.06 after gaining nearly 8% this week. Backed by bullish patterns and soaring $7.7B volume, SOL’s rally faces a test as long-term holders begin to sell, setting up a high-stakes showdown between breakout hopes and bearish pressure.

URPD Data Signals $239 a Battle Zone

Solana is knocking on the doors of its all-time high, but data from the UTXO Realized Price Distribution (URPD) shows a major hurdle lies at $238.94. According to analyst Ali charts, over 23 million SOL were last moved near this level, marking the largest concentration of realized price across all historical data. This points to heavy late-cycle buying, likely from retail investors during the 2021 peak.

The URPD chart also highlights a dense cluster between $144 and $203, where a significant portion of SOL’s circulating supply last changed hands. This range represents the accumulation zone where many investors positioned themselves during the 2022–2023 recovery. These price levels now act as strong support, reinforcing bullish sentiment unless sharply broken.

At the lower end, a sizable volume near $14.75 suggests early backers or long-term holders still hold significant positions, adding to long-term conviction.

Bullish Setup Meets Selling Pressure

On the technical front, Solana recently confirmed a macro breakout from a multi-year symmetrical triangle, originating from its prior ATH near $260. A falling wedge breakout has pushed SOL into a new uptrend, with price now hovering around $235.

Source: Don Via X

Analysts point to a potential parabolic extension to $320, with $250 and $260 as immediate resistance zones.However, headwinds are forming.

Data from Santiment reveals that long-term holders have started offloading their positions—the highest level of net selling in six months. This shift in behavior is significant, as it often signals reduced confidence in near-term upside. Historically, such phases tend to precede corrections or range-bound movement.

$232 Holds as Support, Eyes on $250

Currently trading at $235, Solana has managed to hold above the key $232 support level despite rejection near $250. A bounce from here could trigger another test of $242, and if buying pressure persists, SOL could retest $250.However, if selling persists, SOL could retest downside targets like $221.

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