Geopolitical tensions and evolving trade policies are continuing to influence the cryptocurrency markets, with Solana standing out amidst global economic uncertainty. SOL has demonstrated remarkable recovery strength, rising 8% from its low of $140 on April 30 to around $152, alongside a 35% increase in daily trading volume. This resilience comes at a time when US-China trade relations are deteriorating, impacting both traditional and digital asset markets.

In the broader context, the CoinDesk 20 Index also saw a 4% increase on Thursday.

Key highlights from the technical analysis of SOL include a recovery from a 7.4% correction on April 30, establishing strong support at 140.65 and reaching new period highs at 152.69. The trading range of 12.04 points reflects volatility, with volume analysis showing increased trading during the correction followed by sustained buying interest during the recovery.

Recent price action suggests an ascending channel with resistance at 152.50 and key support at the 148.50-149.50 zone. Bullish momentum seems sustainable with higher lows indicating potential movement towards the 155.00 psychological level. Notably, SOL experienced significant volatility within a short timeframe, but key support was established at 151.10 with strong institutional interest observed during mid-session rally.

Please note that this article was written with the assistance of AI tools and reviewed by our editorial team to ensure accuracy and compliance with our standards. For further details, refer to CoinDesk’s full AI Policy. We have also included information from external sources for reference:

– NewsBTC, Solana Monthly Candle Reclaims Key Levels – Is $240 The Next Target?, published on April 30, 2025.
– NewsBTC, Solana: Analysts Forecast Q3 ATH Rally As SOL Retests Make Or Break Level, published on April 29, 2025.
– Cointelegraph, Why is Solana (SOL) price up today?, published on April 17, 2025.
– CryptoPotato, Tension Builds: Solana (SOL) on the Verge of a Huge Move?, published on April 30, 2025.