SOL Rallies Back Above $151 as Whale Activity and Chart Support Fuel Rebound
Solana’s SOL token regained its footing on Saturday, climbing from a sharp intraday low of $147.13 to trade firmly above $151. The move came as key technical levels held and long-dormant wallets sprang back to life, signaling renewed confidence from larger holders.
Driving the bounce was a sharp surge in Coin Days Destroyed, which reached 3.55 billion, marking its third-highest level this year. This spike reflects significant token movement from previously inactive addresses — often an early sign of institutional re-engagement or large-holder repositioning.
Technically, SOL established a double bottom around $147.50 — a reliable reversal signal — and reclaimed its place within a short-term bullish trend channel on the 6-hour chart. The token touched a high of $152.94 (+3.95%) before modest profit-taking pulled it back to $151.77.
SOL now faces a familiar wall of resistance near $152.85–$153.00. A break above that zone could open the way to higher targets in the $155–$157 range. That said, a bearish engulfing candle on the hourly chart hints at potential near-term consolidation, with $150.85 as key local support.
Market Structure at a Glance:
- 🔸 Intraday Range: $147.13 → $152.94
- 🔸 Support: $150.85
- 🔸 Resistance: $152.85–$153.00
- 🔸 Trend Signal: Double bottom + bullish channel reentry
- 🔸 On-Chain Metric: Coin Days Destroyed = 3.55B (long-term holders moving)
- 🔸 Macro Note: Price action holds firm despite external volatility from global bond markets and U.S.–China tensions
SOL’s rebound highlights a market willing to absorb downside pressure and suggests growing optimism — particularly if bulls can retake control above resistance in the coming sessions.
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