Solana’s SOL Reclaims $151 as Bullish Setup Emerges Amid Macro Headwinds

Solana’s SOL token rebounded sharply on Saturday, recovering from a session low of $147.13 to briefly trade above $152, even as global market uncertainty continues to pressure risk assets.

The rally was underpinned by a spike in on-chain activity, with Coin Days Destroyed jumping to 3.55 billion—the third-highest this year—suggesting that long-held tokens are on the move. This uptick in activity coincided with a technical breakout, as SOL formed a bullish double bottom pattern and re-entered a short-term rising channel on the 6-hour chart.

Currently trading around $151.77 after a minor pullback, SOL faces near-term resistance at the $152.50–$153 zone. A clean break above that could see the token target the $155 to $157 range. However, bearish signals on the hourly chart, including an engulfing candle, suggest near-term caution is warranted, with $150.85 emerging as support.

Snapshot:

• Intraday Gain: SOL climbed 3.95%, reaching $152.94.
• Pattern Watch: Double bottom near $147.50 indicates potential bullish reversal.
• Resistance Ahead: Sellers likely near $152.85; breakout could target $157.
• Volume Trends: Buying volume rising as price moves higher.
• On-Chain Spike: Coin Days Destroyed hit 3.55 billion, signaling renewed wallet activity.
• Short-Term Risks: Slight dip from highs, with bearish hourly structure forming.

While Solana’s price action has turned favorable in the short term, lingering macroeconomic concerns—such as U.S.–China trade friction and elevated global yields—remain a risk factor for crypto markets broadly.