Solana Remains Elevated at $152 Amid Renewed US-China Negotiations

What You Need to Know:

SOL rose from $148.08 to $155.24 before experiencing a slight pullback, maintaining higher lows over a 24-hour timeframe.
Resistance was established at $154.79, with steady consolidation around $151 following a rally marked by high trading volume, per CoinDesk Research’s technical analysis model.
Recent discussions on trade between the U.S. and China in London may provide a boost to cryptocurrency market sentiment if a positive outcome is reached regarding tariffs and technology access.

Solana’s SOL SOL has shown a robust recovery in the last day, increasing up to 4.83% before adjusting to around $152.16. Despite ongoing volatility, the cryptocurrency has demonstrated a pattern of higher lows, indicating resilience amidst a delicate macroeconomic environment.

Current focus remains on negotiations between the U.S. and China that began on Monday in London source. Key officials, including U.S. Commerce Secretary Howard Lutnick and Chinese Vice Premier He Lifeng, have convened to address longstanding issues regarding tariffs and technological restrictions.

Recent developments reflect a temporary truce, though both countries have accused each other of not adhering to previous agreements. Analysts point out that restrictions on rare earth exports and AI chips are crucial issues that could sway global market sentiment, including towards risk-oriented assets like cryptocurrencies.

As the landscape evolves, Solana’s blockchain shows potential for growth, with some expecting price projections between $420 and $620 by 2026. Traders will need to watch closely how broader economic factors influence the appetite for trades in assets like SOL.

Technical Analysis Highlights

SOL climbed to a peak of $155.24 before correcting downwards.
Price demonstrated a climbing trend since 09:00–21:00 on June 8.
A high-volume support level was established at $152.03, with resistance at $154.79.
Following a correction, SOL stabilized near $150.91.
The uptrend resumed early on June 9, with significant volume indicators recorded at 07:59 and 08:02.
Resistance point at $150.85 was overcome, leading to sideways price consolidation.
Price recovered in the last hourly candle, emphasizing renewed bullish sentiment.

Disclaimer: Some portions of this article were generated with AI assistance, alongside human review to maintain accuracy and meet editorial standards. To learn more, see CoinDesk’s full AI Policy.