Solana ‘s SOL Rebounds as Buyers Step In Above $147
Solana (SOL) demonstrated a significant price recovery on Saturday, rebounding from a low of $147.13 to surpass $151. This positive movement occurred despite persistent global macroeconomic headwinds, including ongoing US-China tariff disputes and rising global bond yields, which continue to impact investor sentiment and introduce volatility into the cryptocurrency market.
The rally is particularly noteworthy due to a surge in on-chain activity. The Coin Days Destroyed (CDD) metric, a key indicator of long-term holder activity, reached 3.55 billion, its third-highest level in 2025. This significant increase indicates substantial movement of previously dormant SOL tokens, suggesting renewed investor interest and potential for further price appreciation.
Technically, the price bounce off the $147.13 low confirmed a bullish double bottom pattern, a classic chart formation suggesting a potential trend reversal. This pattern is further reinforced by increasing trading volume accompanying the price rise and the emergence of a short-term bullish channel on the 6-hour chart. These technical indicators collectively point towards a strengthening bullish trend.
However, SOL’s upward momentum faces immediate resistance near the $152.85 level, a price point where selling pressure previously halted prior advances. A decisive break above this resistance could pave the way for a continuation of the rally, potentially targeting the $155–$157 price zone.
Despite the encouraging technical and on-chain signals, it’s crucial to acknowledge the influence of the broader macroeconomic environment. The ongoing uncertainties surrounding global trade and rising interest rates present significant challenges to sustained bullish momentum in the cryptocurrency market as a whole.
A closer examination of the hourly chart reveals a bearish engulfing pattern, suggesting a potential short-term correction. Immediate support now rests around $150.85. While the long-term outlook for SOL remains positive based on the network’s fundamentals and the recent surge in on-chain activity, investors should remain cautious and monitor the interplay between technical indicators and the broader macroeconomic backdrop. The price action in the coming days will be crucial in determining the strength and sustainability of the current upward trend.
