WBTC Delisting Fight Ends: Bit Global Drops Case Against Coinbase
Solana ‘s SOL Rebounds as Buyers Step In Above $147
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By CD Analytics, Siamak Masnavi|Edited by Aoyon Ashraf
Updated Jun 7, 2025, 4:37 p.m. Published Jun 7, 2025, 4:34 p.m.
- SOL rebounded nearly 4% from support at $147.13, forming a double bottom that suggests strengthening momentum, according to CoinDesk Research’s technical analysis model.
- Price action formed resistance at $152.85, with volume rising on upward moves and 3.55 billion Coin Days Destroyed recorded.
- Geopolitical risks, rising government bond yields and concerns over global economic slowdown due to the tariff war remain key macro drivers affecting short-term crypto sentiment.
showed renewed strength Saturday as it rebounded from a low of $147.13 to trade back above $151, despite lingering global macroeconomic headwinds. The recovery comes amid a spike in on-chain activity, with Coin Days Destroyed surging to 3.55 billion—its third-highest level this year—indicating movement of long-dormant tokens.
The bounce off $147 confirmed a bullish double bottom pattern, supported by rising volume and a return to a short-term bullish channel on the 6-hour chart. Solana now faces overhead resistance near $152.85, where sellers previously stepped in, but a move above that level could open the door toward the $155–$157 zone.
STORY CONTINUES BELOW
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While Solana’s network fundamentals remain strong, the broader macro environment continues to inject volatility into crypto markets, with ongoing US-China tariff disputes and rising global bond yields weighing on investor confidence.
Technical Analysis Highlights
- SOL rallied from $147.13 to $152.94, gaining 3.95% intraday.
- Double bottom formed near $147.50, signaling a potential trend reversal.
- Resistance is developing at $152.50–$153.00, capping upward momentum.
- Bullish channel seen on 6-hour chart, with volume rising on green candles.
- Coin Days Destroyed spiked to 3.55 billion, its third-highest reading in 2025.
- Price dropped slightly in the last hour from $152.51 to $151.77 (0.48%).
- Hourly chart shows bearish engulfing pattern; $150.85 is near-term support.
CoinDesk Analytics is CoinDesk’s AI-powered tool that, with the help of human reporters, generates market data analysis, price movement reports, and financial content focused on cryptocurrency and blockchain markets.
All content produced by CoinDesk Analytics is undergoes human editing by CoinDesk’s editorial team before publication. The tool synthesizes market data and information from CoinDesk Data and other sources to create timely market reports, with all external sources clearly attributed within each article.
CoinDesk Analytics operates under CoinDesk’s AI content guidelines, which prioritize accuracy, transparency, and editorial oversight. Learn more about CoinDesk’s approach to AI-generated content in our AI policy.
Siamak Masnavi is a researcher specializing in blockchain technology, cryptocurrency regulations, and macroeconomic trends shaping the crypto market. He holds a PhD in computer science from the University of London and began his career in software development, including four years in the banking industry in the City of London and Zurich. In April 2018, Siamak transitioned to writing about cryptocurrency news, focusing on journalism until January 2025, when he shifted exclusively to research on the aforementioned topics.
