SOL Recovers Above $151 After Sharp Pullback

SOL

showed renewed strength Saturday as it rebounded from a low of $147.13 to trade back above $151, despite lingering global macroeconomic headwinds. The recovery comes amid a spike in on-chain activity, with Coin Days Destroyed surging to 3.55 billion—its third-highest level this year—indicating movement of long-dormant tokens.

The bounce off $147 confirmed a bullish double bottom pattern, supported by rising volume and a return to a short-term bullish channel on the 6-hour chart. Solana now faces overhead resistance near $152.85, where sellers previously stepped in, but a move above that level could open the door toward the $155–$157 zone.

While Solana’s network fundamentals remain strong, the broader macro environment continues to inject volatility into crypto markets, with ongoing US-China tariff disputes and rising global bond yields weighing on investor confidence.

Technical Analysis Highlights

• SOL rallied from $147.13 to $152.94, gaining 3.95% intraday.
• Double bottom formed near $147.50, signaling a potential trend reversal.
• Resistance is developing at $152.50–$153.00, capping upward momentum.
• Bullish channel seen on 6-hour chart, with volume rising on green candles.
• Coin Days Destroyed spiked to 3.55 billion, its third-highest reading in 2025.
• Price dropped slightly in the last hour from $152.51 to $151.77 (0.48%).
• Hourly chart shows bearish engulfing pattern; $150.85 is near-term support.

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