Solana Rebounds to $157 After 6% Drop, As Traders Eye Renewed Bullish Momentum

Solana (SOL) recovered above $157 Tuesday morning following a sharp intraday dip that saw the token fall nearly 6% from a local high of $163.65. The decline, which found support near $154.40, was met with aggressive buying that helped stabilize price action in early trading.

The move comes amid a flurry of institutional interest in the Solana ecosystem. Canary Capital’s filing for a spot Solana ETF and WalletConnect’s decision to launch its native token on Solana are seen as signals of growing confidence in the blockchain’s infrastructure.

Technical indicators suggest SOL is consolidating in a bullish range after testing key resistance. Analysts note that the volume spike during the rebound suggests strong buy-side conviction at the $154–$156 level.

Short-term resistance remains at $157.70, with further upside possible if the token breaks above $160. Meanwhile, the support zone around $154 is viewed as critical to maintaining the upward trend.

With increased on-chain activity and continued DeFi momentum, Solana appears to be setting the stage for a possible retest of the $165 level in the days ahead.