Solana (SOL) Climbs Back Above $151 as On-Chain Signals Point to Accumulation Phase

Solana’s native token SOL rebounded sharply on Saturday, rising from an intraday low of $147.13 to regain levels above $151. The move came amid broader risk-off sentiment in global markets but was underpinned by encouraging on-chain activity and bullish technical structure.

A surge in Coin Days Destroyed—up to 3.55 billion, its third-highest level of 2025—suggests dormant holders are becoming active, often an indicator of capital rotation or long-term reaccumulation. This spike coincided with a clear double bottom formation around the $147.50 level, signaling a potential trend reversal.

On the 6-hour chart, SOL re-entered a bullish channel, supported by rising volume on green candles. The token reached a high of $152.94, gaining 3.95% intraday, before easing back slightly to $151.77 in late trading.

Short-term resistance is now visible at $152.85–$153.00, where prior rallies have stalled. A clean breakout could expose higher levels around $155–$157. However, the hourly chart has printed a bearish engulfing pattern, raising the prospect of a near-term pullback, with $150.85 emerging as support.

Key Technical & Market Insights:

• Price Action: Low of $147.13, intraday high of $152.94 (+3.95%)
• Support Level: $150.85 (short-term)
• Resistance Level: $152.85–$153.00
• Trend Bias: Short-term bullish, supported by double bottom and channel reentry
• On-Chain Indicator: Coin Days Destroyed at 3.55B signals long-term holder activity
• Macro Risk: Broader markets remain cautious amid U.S.–China trade tensions and rising global yields

Despite lingering macroeconomic pressure, Solana’s price structure and on-chain dynamics suggest bullish undercurrents that could continue driving short-term upside—provided resistance is broken and broader market conditions stabilize.