The cryptocurrency market is showing intriguing dynamics for Solana (SOL), with recent on-chain data shedding light on critical price levels that traders should monitor closely. According to a tweet from glassnode on June 18, 2025, Cost Basis Distribution (CBD) data reveals strong support for Solana in the $145 to $147 range, where approximately 13 million SOL are held by investors. This price zone represents a key area where significant buying interest has historically accumulated, potentially acting as a floor for price declines. On the flip side, resistance levels are building at $155 to $157, with around 31 million SOL held, and again at $164 to $166, where roughly 29 million SOL are positioned. These resistance zones indicate areas where selling pressure may intensify as investors who bought at these levels look to exit their positions for profit or to cut losses. This data is crucial for traders focusing on Solana price prediction and seeking to identify breakout or breakdown opportunities in the current market cycle. As of 10:00 AM UTC on June 18, 2025, SOL was trading at approximately $149.20 on major exchanges like Binance and Coinbase, hovering near the identified support zone, with a 24-hour trading volume of over $2.1 billion across SOL/USDT and SOL/BTC pairs, as reported by CoinMarketCap. This positioning near support suggests a potential for either a bounce or a breakdown, depending on broader market sentiment and volume trends in the coming hours.

The trading implications of these CBD data points are significant for both short-term scalpers and long-term holders of Solana. If SOL holds above the $145 to $147 support zone, it could signal a bullish reversal, potentially targeting the first resistance at $155 to $157. A break above this level with strong volume—ideally exceeding the current 24-hour average of $2.1 billion as of June 18, 2025, 10:00 AM UTC—could propel SOL toward the next resistance at $164 to $166. Traders should watch for increased buying activity on-chain, as metrics like active addresses and transaction volume on the Solana blockchain could confirm momentum. Conversely, a failure to hold $145 may expose SOL to further downside, with potential targets at $140 or lower, where historical data shows weaker support. Cross-market analysis also reveals a correlation with Bitcoin (BTC), which was trading at $92,500 at the same timestamp, showing a 2.3% decline over 24 hours. Since SOL often moves in tandem with BTC, a sustained BTC downturn could drag SOL below support. Additionally, stock market movements, particularly in tech-heavy indices like the NASDAQ, which dropped 0.8% on June 17, 2025, per Bloomberg data, could dampen risk appetite, impacting crypto assets like SOL. Traders should monitor institutional flows, as reduced risk-on sentiment in stocks often pushes capital away from high-volatility assets like cryptocurrencies.

From a technical perspective, Solana’s price action aligns with key indicators as of June 18, 2025, 10:00 AM UTC. The Relative Strength Index (RSI) for SOL/USDT on Binance stands at 42, indicating a neutral-to-oversold condition, which could precede a bounce if buying volume picks up. The 50-day Moving Average (MA) sits at $152.30, just above the current price of $149.20, acting as immediate resistance alongside the CBD-identified $155 to $157 zone. Trading volume for SOL spiked by 15% in the last 24 hours, reaching $2.1 billion, signaling heightened interest near these critical levels. On-chain metrics from glassnode further show a 7% increase in SOL wallet addresses holding over 1,000 tokens in the past week, suggesting accumulation by larger players. Regarding stock-crypto correlations, the recent NASDAQ decline on June 17, 2025, coincided with a 3.2% drop in SOL’s price between 8:00 AM UTC on June 17 and 8:00 AM UTC on June 18, reflecting shared risk sentiment. Institutional money flow data from CoinShares indicates a $50 million outflow from crypto funds in the week ending June 14, 2025, with some capital rotating back into tech stocks, potentially explaining the muted crypto response. However, Solana’s strong DeFi and NFT ecosystem continues to attract interest, positioning it as a potential outperformer if risk appetite returns. Traders can explore opportunities in SOL/ETH pairs, which showed a 1.8% gain in the last 24 hours as of 10:00 AM UTC on June 18, 2025, with a volume of $320 million on Binance, indicating relative strength against Ethereum.

In summary, Solana’s current positioning near key support and resistance levels, combined with stock market correlations and institutional flows, offers multiple trading setups. Scalpers might target short-term moves between $145 and $155, while swing traders could position for a breakout above $166 or a breakdown below $140, depending on volume and broader market cues. Monitoring BTC and NASDAQ movements will be critical, as these often dictate crypto sentiment. With concrete on-chain data and technical indicators aligning, Solana remains a focal point for traders navigating the volatile crypto landscape as of June 18, 2025.

FAQ Section:
What are the key support and resistance levels for Solana right now?
The key support for Solana is at $145 to $147, where around 13 million SOL are held, while resistance is at $155 to $157 with 31 million SOL and $164 to $166 with 29 million SOL, as per glassnode data shared on June 18, 2025.

How does the stock market impact Solana’s price?
Stock market movements, especially in tech indices like the NASDAQ, influence risk sentiment. A 0.8% NASDAQ drop on June 17, 2025, correlated with a 3.2% decline in SOL’s price over 24 hours, showing how reduced risk appetite in stocks can pressure crypto assets like Solana.

What trading volume trends are visible for Solana?
As of June 18, 2025, at 10:00 AM UTC, Solana’s 24-hour trading volume reached $2.1 billion across major pairs like SOL/USDT and SOL/BTC, with a 15% increase in the last 24 hours, indicating strong market interest near current price levels.