Solana (SOL) has demonstrated resilience amid global economic uncertainty, maintaining support above $152 following a rebound from recent lows. The price action reflects cautious optimism tied to renewed US-China trade negotiations, currently taking place in London.
SOL Rebounds with Higher Lows
Solana’s price rose from $148.08 to $155.24, marking a 4.83% intraday range, before settling near $152.16. This movement formed a sequence of higher lows, suggesting underlying bullish momentum despite the ongoing volatility in the broader market.
A strong uptrend channel was established between 09:00 and 21:00 UTC on June 8, indicating consistent buyer interest during periods of increased volume.
Technical analysis identified key resistance at $154.79, while high-volume support emerged near $152.03. Following a brief pullback, SOL price stabilized around $150.91, forming a base for further consolidation.
Global Macro Tensions in Focus
Crypto traders are closely watching US-China trade talks in London. High-ranking officials from both countries are discussing contentious issues, including tariff adjustments and technology export restrictions. Any progress could trigger a positive shift in market sentiment, benefiting risk assets such as cryptocurrencies.
Macroeconomic clarity often serves as a catalyst for renewed crypto inflows, and SOL’s performance reflects that correlation.
Despite a temporary trade truce last month, tensions over rare earth exports and AI chip regulations remain unresolved, potentially affecting investor confidence. Still, the return to diplomatic discussions is viewed as a constructive step forward.
Solana’s Network Outlook Remains Strong
Beyond macro events, Solana’s ecosystem continues to expand. Analysts and institutional players have projected long-term price targets between $420 and $620 by 2026, citing growing developer adoption and on-chain activity.
The combination of network fundamentals and global market dynamics could position SOL for further gains in the mid to long term.
Technical Summary
- Price Range: $148.08 to $155.24
- Support Zone: $150.91–$152.03
- Resistance Level: $154.79
- Volume Spike: 54,590 units at 07:59 UTC (June 9)
- Recent Movement: Recovery from $150.53 to $150.98
Conclusion
Solana’s ability to hold above $152 amid geopolitical uncertainty signals market confidence and technical strength. Traders will now watch whether continued diplomatic progress between the US and China can provide further support for risk-on sentiment, with Solana well-positioned to capitalize on such momentum.