Solana’s SOL Rebounds Above $151 as On-Chain Metrics Signal Reaccumulation

Solana’s SOL token bounced back over the $151 mark on Saturday, recovering from a sharp dip to $147.13 as technical and on-chain signals converged to support bullish sentiment—despite ongoing global economic uncertainty.

The recovery followed a surge in Coin Days Destroyed, which hit 3.55 billion, the third-highest level this year. This metric, which tracks the activity of long-held tokens, suggests reaccumulation by seasoned holders and increased conviction among long-term participants.

Technically, SOL confirmed a double bottom around the $147.50 area on the 6-hour chart, backed by rising volume and a return to a short-term ascending trendline. The token reached an intraday high of $152.94, up 3.95%, before easing slightly to $151.77.

A resistance zone is now forming near $152.85–$153.00—a level that capped previous upside attempts. A clear break above could open the way toward $155–$157. However, a bearish engulfing candle on the hourly chart suggests the possibility of short-term consolidation, with $150.85 acting as immediate support.

Key Technical Levels:

• Reversal Point: Bounce from $147.13 to $152.94 (+3.95%)
• Support: $150.85
• Resistance: $152.85–$153.00
• On-Chain Insight: Coin Days Destroyed at 3.55B
• Trend Watch: Bullish 6-hour channel remains intact
• Short-Term Signal: Bearish hourly candle indicates potential pause or pullback

Despite macroeconomic pressure from U.S.–China trade friction and global rate volatility, SOL’s resilience at key support and increased token movement suggest bulls may be preparing for another leg higher—if resistance gives way.