May 01, 2025
11 11 11 AM
Latest Post
Mango Markets Exploiter Avi Eisenberg Sentenced to 4+ Years in Prison for Child Porn Strategy Raising Another $21B to Buy Bitcoin, Posts Large Q1 Loss on BTC Price Decline Gold Continues Correcting and That Might Be Good for Bitcoin SEC Ditches PayPal’s PYUSD Probe, Removing Key Regulatory Hurdle for Its Stablecoin Litecoin Surges 7% as SEC Likely to Approve Spot ETF with 90% Odds: Analyst Solana Surges 8% Despite Global Macro Tensions. Can It Hit $155 in Short-Term? Movement Token Slumps 14% as Coinbase Suspends Trading ATOM Surges More Than 4% With Broader Market as Cosmos Ecosystem Attracts Institutions Bitcoin Tops $97K, Strategy Hits 2025 High Ahead of Earnings Amid Capital Raise Speculation U.S. Congressman Pitches Crypto ATMs for Federal Government Buildings

Solana Surges 8% Despite Global Macro Tensions. Can It Hit $155 in Short-Term?

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:

This post was originally published on this site