Solana Price Rises 8% Amid Global Economic Uncertainty

Geopolitical tensions and trade policy changes are affecting cryptocurrency markets, with Solana (SOL) gaining attention amid global economic uncertainty.

SOL has recovered 8% from a low of $140 on April 30, reaching approximately $152. Daily trading volume increased by 35%. This recovery coincides with declining US-China trade relations impacting both traditional and digital assets. The CoinDesk 20 Index rose about 4% recently.

Technical Analysis Highlights

SOL rebounded from a 7.4% drop to achieve new highs at 152.69.
Trading range exhibited volatility of 12.04 points (8.3%), with support at 140.65.
Heightened trading volume during the correction exceeded 2.4M, followed by sustained buying interest.
Price action indicates an ascending channel with resistance at 152.50 and key support between 148.50-149.50.
Bullish momentum suggests potential movement toward the psychological level of 155.00.
Recent volatility showed SOL dropping from 152.38 to 150.74 before recovering to 152.49.
Support established at 151.10 with significant buying volume (44K+).
A rally from 151.22 to 152.60 coincided with a volume spike of 126K at 14:00, indicating institutional interest.
The short-term ascending channel shows resistance at 152.68 and support at 152.32.
Immediate resistance in the 152.45-152.50 zone may dictate near-term price direction.