SOL Gains Momentum as Bulls Defend the $147 Support Zone

SOL Bounces Back Above $151 as Long-Term Holders Reactivate and Bulls Regain Momentum

Solana’s native token SOL saw a strong recovery Saturday, reversing earlier losses to trade above $151, fueled by both technical signals and renewed on-chain movement. The rebound from $147.13 marked a pivotal shift in short-term sentiment, despite broader market unease tied to global economic uncertainty.

The recovery coincided with a major uptick in Coin Days Destroyed, which soared to 3.55 billion—its third-highest reading of 2025—suggesting dormant wallets are becoming active, a signal often associated with strategic repositioning by long-term holders.

A double bottom pattern near $147.50 has now taken shape on the 6-hour chart, accompanied by climbing volume and a return to a rising price channel. While SOL briefly touched $152.94 intraday, sellers emerged near the $152.85 level, forming a new resistance zone. If bulls can reclaim that level, the path toward $155–$157 could open.

However, caution remains. A bearish engulfing pattern appeared on the hourly chart, pulling SOL slightly down to $151.77. Support now lies at $150.85 as traders watch for signs of follow-through.

Technical Summary:

Rebound Range: SOL surged from $147.13 to $152.94, up 3.95%.
Bullish Structure: Double bottom confirms momentum shift at $147.50.
Resistance Test: $152.50–$153 remains a barrier to further gains.
Volume Rising: Green candles backed by increasing buy-side volume.
Dormant Activity: Coin Days Destroyed spike hints at major wallet moves.
Short-Term Support: Holding above $150.85 will be key for bulls.

While Solana’s core metrics remain solid, market sentiment continues to wrestle with global macro risks—from trade tensions between the U.S. and China to rising bond yields—keeping traders on edge despite the bounce.