Solana Rebounds as Traders Monitor US-China Trade Talks in London
Solana’s native token (SOL) regained ground Monday, climbing as much as 4.83% before pulling back slightly to trade near $152.16, as traders reacted to renewed negotiations between the U.S. and China in London aimed at easing economic tensions.
The cryptocurrency posted a resilient bounce from recent lows, forming a series of higher lows that hint at emerging technical strength—even as broader market sentiment remains cautious due to geopolitical uncertainty.
Trade Talks in Focus
The rebound coincided with the launch of high-level trade discussions between U.S. Commerce Secretary Howard Lutnick and Chinese Vice Premier He Lifeng. The meetings, which follow a fragile ceasefire reached last month, are centered on resolving key disputes around tariffs, rare earth exports, and semiconductor restrictions—factors that continue to impact global risk sentiment.
While both sides have publicly committed to improving relations, lingering disagreements over AI chip bans and resource supply chains could still unsettle global equity and crypto markets in the short term.
Solana’s Macro Outlook
Despite macro headwinds, investor interest in Solana remains strong. Some institutional forecasts see long-term price potential in the $420–$620 range by 2026, driven by increasing adoption and a growing DeFi ecosystem. Near-term performance, however, is likely to remain sensitive to macro developments and risk appetite shifts.
Technical Snapshot:
- Intraday Range: SOL rallied from $148.08 to $155.24 before pulling back.
- Trend Structure: A bullish uptrend channel formed between 09:00 and 21:00 UTC on June 8.
- Support & Resistance: Key support is building at $152.03, with resistance at $154.79.
- Volume Signals: Strong buying emerged on June 9 at 07:59 UTC (54,590 units) and 08:02 UTC (23,396 units).
- Breakout & Consolidation: SOL broke above $150.85, followed by consolidation near $150.91.
- Latest Movement: The final hourly candle showed a recovery from $150.53 to $150.98, hinting at renewed momentum.
As global markets await further developments from London, SOL’s ability to hold above key support levels may determine its next directional move.
