Solana Bounces Back Above $157 as Bulls Buy the Dip Following 6% Slide
Solana (SOL) has recovered to trade above $157 after a sharp 6% intraday decline saw the token fall from $163.65 to lows around $154.40. The swift rebound suggests dip-buying interest remains strong as traders look past short-term volatility.
The drop was triggered by resistance near the $163.50 zone, prompting a rapid sell-off during late U.S. trading hours. However, buyers quickly stepped in near the $154 level, forming a new short-term support base that helped SOL regain its footing.
The recovery coincides with growing institutional attention on the Solana ecosystem. Canary Capital’s recent Solana ETF filing and WalletConnect’s choice to launch its native token on Solana have reinforced bullish sentiment across the network.
From a technical standpoint, SOL is now consolidating between $156.50 and $158, with short-term resistance seen near $157.70 and $160. A breakout above this range could open the door for a retest of the $165 level.
With on-chain activity rising and broader risk sentiment stabilizing, Solana appears to be building a solid foundation for the next leg higher.
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