Solana Regains Momentum, Trades Above $151 as On-Chain Activity Heats Up
Solana’s SOL token bounced back strongly on Saturday, recovering from recent lows to reclaim the $151 level amid renewed buying interest and notable on-chain shifts.
After dipping to $147.13, SOL surged to an intraday high of $152.94, gaining 3.95% before settling near $151.77. The move was powered by a key technical signal — a double bottom pattern near $147.50 — and supported by rising volume and re-entry into a short-term bullish channel on the 6-hour chart.
A spike in Coin Days Destroyed to 3.55 billion, the third-highest level this year, further underscored the shift, hinting at renewed movement from long-dormant holders — a classic sign of accumulation.
Traders are now watching the $152.85–$153.00 resistance zone. A clean breakout could clear the path toward $155–$157. Still, caution is warranted: a bearish engulfing candle on the hourly chart suggests possible short-term consolidation, with $150.85 as immediate support.
Quick Stats:
- 🔹 Low–High Range: $147.13 – $152.94
- 🔹 Close: $151.77
- 🔹 On-Chain Alert: Coin Days Destroyed at 3.55B
- 🔹 Chart Structure: Double bottom + bullish 6H channel
- 🔹 Resistance to Watch: $152.85–$153.00
- 🔹 Support: $150.85
Solana’s recovery stands out amid shaky macro conditions, including U.S.–China trade disputes and global rate volatility. Still, buyers appear to be stepping in at key levels — and long-term holders are once again on the move.
