Solana (SOL) is showing fresh signs of strength, recovering from recent losses as investor demand picks up. The price has climbed back above $151, marking a strong bounce from earlier lows—even as global economic tensions continue to pressure the broader crypto market.
SOL Surges Amid On-Chain Activity Spike
On Saturday, Solana rebounded from a low of $147.13, pushing as high as $152.94 during the day. This 3.95% intraday gain signals a potential trend reversal, especially as it comes alongside a sharp increase in on-chain activity.
Notably, Coin Days Destroyed spiked to 3.55 billion, the third-highest level in 2025. This metric tracks the movement of long-held tokens, suggesting that long-dormant coins are being transferred, likely by more confident long-term holders.
Bullish Technical Patterns in Play
Technical analysis confirms a bullish double bottom formation near $147.50, a pattern that often precedes upward price momentum. Rising trading volume and a re-entry into a short-term bullish channel on the 6-hour chart add to the bullish case.
SOL is now testing resistance around $152.85, a level that previously halted upward movement. A clean break above this could open the door toward the $155–$157 price range.
Macro Headwinds Still Linger
Despite Solana’s recovery, broader market pressures remain. Investors continue to tread carefully amid rising global bond yields and renewed US-China tariff tensions. These factors contribute to volatility across all risk assets, including crypto.
Still, Solana’s strong network fundamentals and active on-chain indicators suggest it could remain resilient, even as traditional financial markets wobble.
Short-Term Outlook
- Immediate support lies near $150.85.
- A bearish engulfing candle on the hourly chart hints at possible short-term pullback.
- However, rising green candle volume supports further upside potential.