Double Bottom Signals Strengthening Momentum
Solana (SOL) has shown a strong rebound, recovering from recent losses and climbing back above $151. After touching a low of $147.13, the asset gained nearly 4% intraday, forming a bullish double bottom pattern. This technical setup, combined with rising volume, indicates renewed buyer confidence even amid global macroeconomic concerns.
The double bottom formation near $147.50 was confirmed on the 6-hour chart, supporting a possible trend reversal. The move back into a short-term bullish channel reinforces the outlook for a continued uptrend, provided price holds above near-term support.
On-Chain Metrics Show Spike in Activity
A key signal of this rebound came from on-chain activity, where Coin Days Destroyed surged to 3.55 billion—marking its third-highest level in 2025. This metric suggests a shift in long-term holder behavior, with previously dormant SOL tokens returning to circulation, often an indicator of significant market movement ahead.
Technical Analysis: Key Levels to Watch
- SOL rebounded from $147.13 to $152.94, marking a 3.95% gain intraday.
- A bullish double bottom has formed near $147.50, signaling reversal strength.
- Resistance is forming at $152.50–$153.00, a key level where sellers may re-emerge.
- The 6-hour chart shows a bullish price channel, with volume rising on green candles.
- A bearish engulfing pattern appeared on the hourly chart, suggesting caution.
- $150.85 now acts as near-term support, critical to sustain bullish momentum.
Macro Risks Still Loom
Despite Solana’s improving technical picture and strong network fundamentals, broader macroeconomic risks remain a major influence. Investors remain cautious due to the US-China tariff tensions, rising global bond yields, and persistent concerns about a potential global economic slowdown.
These external pressures continue to inject volatility across all crypto markets, and while SOL has shown resilience, macro-driven pullbacks can still affect short-term price action.
Outlook: Watching for a Break Above $153
For Solana to continue its recovery, a confirmed break above the $152.85 resistance is essential. A move past this level could trigger a push toward the $155–$157 range. Conversely, if $150.85 fails to hold, SOL may revisit its previous support zone.
Investor focus now turns to whether momentum can sustain against ongoing geopolitical and financial uncertainty.
