Solana’s SOL Recovers Above $151 as Technical Bounce Aligns With Dormant Token Awakening
Solana’s native token SOL regained momentum on Saturday, climbing back above $151 after sliding to a low of $147.13 earlier in the session. The move came as renewed buying interest and a notable uptick in on-chain activity countered broader macroeconomic uncertainty.
At the core of the rebound was a sharp rise in Coin Days Destroyed, which surged to 3.55 billion—the third-highest reading of 2025. This metric, which tracks the movement of long-held tokens, suggests previously inactive wallets are re-entering the market, often viewed as a signal of shifting investor confidence.
Technically, SOL’s reversal off the $147 level confirmed a bullish double bottom pattern on the 6-hour chart. Rising trading volume accompanied the move, helping the token re-enter a short-term ascending price channel. Intraday, SOL peaked at $152.94, gaining 3.95%, before slipping slightly to $151.77 by the close.
However, the rally faces immediate resistance near $152.50–$153.00, where sellers previously emerged. A breakout above that level could open the path toward the $155–$157 range. On the downside, near-term support is forming around $150.85, particularly after a bearish engulfing candle appeared on the hourly chart.
Technical Snapshot:
- Intraday Range: $147.13 (low) → $152.94 (high), +3.95%
- Pattern Watch: Double bottom near $147.50 points to trend reversal
- Resistance: $152.50–$153.00; breakout could extend to $157
- Support: $150.85 marked as key short-term floor
- Trend Structure: 6-hour chart back in bullish channel
- On-Chain Insight: Coin Days Destroyed at 3.55B, signaling renewed long-term holder activity
- Late Action: Final-hour pullback from $152.51 to $151.77 (-0.48%)
Despite Solana’s network strength and improving technical structure, broader market sentiment remains fragile. Ongoing U.S.–China trade tensions and rising global bond yields continue to pose headwinds, keeping investors cautious across risk assets.
