Solana (SOL) has shown notable recovery from recent steep losses, with renewed demand pushing its price above $151. This rebound occurs despite ongoing global market tensions that continue to heighten investor caution.
Key Market Movements
- Price Recovery: SOL rebounded from a low of $147.13** to trade above **$151, signaling strong buyer interest at this support level.
- On-Chain Activity: Coin Days Destroyed surged to 3.55 billion—the third-highest level this year—indicating movement of long-dormant tokens.
- Technical Patterns: The bounce confirmed a bullish double bottom, supported by rising volume and a return to a short-term bullish channel on the 6-hour chart.
Resistance Levels and Potential Targets
Solana now faces immediate overhead resistance near $152.85**, where sellers previously intervened. A sustained break above this level could propel SOL toward the **$155–$157 zone.
Macroeconomic Factors
While Solana’s network fundamentals remain robust, broader macro risks persist:
- US-China Trade Tensions: Ongoing tariff disputes add volatility to crypto markets.
- Global Bond Yields: Rising yields continue to pressure investor sentiment.
Technical Analysis Overview
The recent price action highlights:
- Support at $147: Validated as a strong demand zone.
- Bullish Momentum: Increasing volume and chart patterns suggest upward potential.
- Critical Resistance: $152.85 as the next hurdle for further gains.
FAQs
Why did SOL rebound from $147?
Buyers stepped in strongly at this level, viewing it as a strategic support zone amid broader market uncertainty.
What does the spike in Coin Days Destroyed indicate?
It reflects increased movement of previously inactive tokens, often signaling renewed investor activity or accumulation.
What are the key resistance levels for SOL?
- Immediate: $152.85
- Next target: $155–$157
How do macro risks affect Solana?
Global factors like trade tensions and bond yields inject volatility, but SOL’s strong fundamentals help mitigate downside risks.
👉 Explore more about Solana’s market trends
Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Always conduct your own research before making investment decisions.
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