Solana’s SOL Surges Past $151 as Dormant Supply Moves and Technical Setup Turns Favorable
Solana’s SOL token rebounded sharply on Saturday, clawing back losses to trade above $151 after dipping to a low of $147.13. The recovery reflects renewed buying interest, even as broader market uncertainty—driven by geopolitical tensions and rising yields—continues to cloud the crypto landscape.
The rebound coincided with a notable spike in Coin Days Destroyed, which rose to 3.55 billion—marking the third-highest level recorded in 2025. This indicates a reactivation of previously idle tokens and hints at shifting behavior among long-term holders.
Technically, the bounce established a bullish double bottom near $147.50, with price action re-entering a short-term ascending channel on the 6-hour chart. Momentum carried SOL as high as $152.94 intraday before minor profit-taking brought it back to $151.77.
Resistance is building around $152.85, a level where sellers previously emerged. A breakout above this zone could clear the way toward the $155–$157 range. Still, the hourly chart has flashed a bearish engulfing pattern, introducing short-term caution.
Market Overview:
- Intraday Performance: SOL rallied 3.95% from $147.13 to $152.94.
- Chart Structure: Double bottom pattern confirmed with rising volume.
- Key Resistance: $152.50–$153 acting as a near-term ceiling.
- Support Zone: $150.85 providing immediate downside protection.
- On-Chain Insight: Coin Days Destroyed spiked, indicating token reallocation.
- Trend Watch: Momentum intact, but hourly signals warn of a potential cooldown.
Despite a backdrop of global volatility, Solana’s technical resilience and spike in dormant token movement suggest a potential shift in market dynamics—if buyers can hold their ground above key levels.
