Solana sank sharply this week as a broader crypto market pullback piled on selling pressure, pushing SOL back toward the $60 area on Friday, June 5 — its weakest level since late 2023. With momentum firmly on the bears’ side, many traders now expect the downtrend could persist into the coming weeks.
On June 5, crypto analyst Ali Martinez shared an on-chain read on X that highlights the key price zones traders should watch next. Martinez used the UTXO Realized Price Distribution (URPD) metric, which measures how much of a coin was bought at each price level. That distribution reveals where large groups of holders have their cost bases, and those zones typically act as support or resistance: buyers often step in when price returns to their entry point, while underwater holders may sell as price nears theirs.
Using URPD, Martinez noted that SOL recently lost an important support cushion around $77. The next immediate floor he flagged is $53 — and there’s “barely any cushion” between the current price and that level. Should $53 fail to hold, the next meaningful on-chain supports sit near $35 and $24, levels that would likely require more severe capitulation to reach.
At the time of writing SOL trades around $63.23, down nearly 8% over the past 24 hours. For any sustained recovery, the market will need renewed spot demand to rebuild those lost support zones. In the near term, traders will be watching $77, $53, $35 and $24 as the critical levels that could determine whether Solana finds footing or extends the sell-off.
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