Solana 's SOL Rebounds as Buyers Step In Above $147

Solana 's SOL Rebounds as Buyers Step In Above $147
CoinDesk
CoinDesk
SOL-1.90%

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, signalling 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.
Show original
The content on this page is provided by third parties. Unless otherwise stated, OKX is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.