Geopolitical tensions and evolving trade policies continue to shape cryptocurrency markets, with Solana emerging as a focal point amid global economic uncertainty.
SOL has shown impressive recovery strength, climbing 8% from its April 30 low of $140 to around $152, with daily trading volume jumping 35% over 24 hours. This resilience comes as US-China trade relations deteriorate, creating ripple effects across traditional and digital asset markets.
The move comes as the broader market gauge CoinDesk 20 Index, climbed about 4% on Thursday.
Technical Analysis Highlights
- SOL recovered from a significant 7.4% correction on April 30, dropping from 148.03 to 140.63 before reaching new period highs at 152.69.
- Overall trading range of 12.04 points (8.3%) showcases volatility, with strong support established at 140.65.
- Volume analysis reveals heightened trading during the correction (2.4M+ volume) followed by sustained buying interest during recovery.
- Recent price action forms an ascending channel with resistance at 152.50, while the 148.50-149.50 zone serves as a key support level, according to CoinDesk Research’s technical analysis data.
- Bullish momentum appears sustainable with higher lows forming, suggesting potential continuation toward the 155.00 psychological level.
- In the last 100 minutes, SOL experienced significant volatility, dropping sharply from 152.38 to a low of 150.74 before staging a V-shaped recovery to 152.49.
- Key support established at 151.10, where substantial buying volume (44K+) emerged.
- A mid-session rally from 151.22 to 152.60 coincided with the highest volume spike (126K at 14:00), indicating strong institutional interest.
- The short-term ascending channel was established with resistance at 152.68 and support at 152.32.
- The 152.45-152.50 zone now serves as immediate resistance that could determine near-term direction.
Disclaimer: This article was generated with AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy. This article may include information from external sources, which are listed below when applicable.
External References:
- NewsBTC, Solana Monthly Candle Reclaims Key Levels – Is $240 The Next Target?, published April 30, 2025.
- NewsBTC, Solana: Analysts Forecast Q3 ATH Rally As SOL Retests Make Or Break Level, published April 29, 2025.
- Cointelegraph, Why is Solana (SOL) price up today?, published April 17, 2025.
- CryptoPotato, Tension Builds: Solana (SOL) on the Verge of a Huge Move?, published April 30, 2025.