Solana’s SOL Bounces Off $147 as Dormant Wallets Stir, Price Reclaims $151
Solana’s native token SOL staged a swift rebound Saturday, rising from a session low of $147.13 to briefly surpass $152, before settling around $151.77. The move comes as renewed on-chain activity and improving technical structure bolstered short-term sentiment.
Coin Days Destroyed—a metric tracking the movement of long-held tokens—spiked to 3.55 billion, its third-highest reading this year. The data suggests a shift in behavior from long-term holders, potentially signaling renewed conviction or repositioning.
The rebound formed a confirmed double bottom pattern near $147.50, supported by rising volume and a re-entry into a short-term bullish channel on the 6-hour chart. Momentum cooled slightly late in the session, as a bearish engulfing pattern appeared on the hourly timeframe.
Key Technical Levels:
- Intraday Range: $147.13 (low) to $152.94 (high), +3.95%
- Current Price: $151.77 after minor retracement
- Resistance Zone: $152.50–$153.00
- Support Zone: $150.85 short-term floor
- On-Chain Shift: Coin Days Destroyed at 3.55B—long-term holders re-engaging
Despite ongoing macro pressures including rising bond yields and U.S.–China trade friction, Solana’s rebound reflects growing buyer interest around key technical levels—though follow-through will depend on a decisive break above resistance.
