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Solana Holds Above $152 as Second Round of US-China Talks Raise Hopes for Market Calm
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Siamak Masnavi
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By Siamak Masnavi, CD Analytics|Edited by Aoyon Ashraf
Jun 9, 2025, 10:11 a.m.
- SOL climbed from $148.08 to $155.24 before pulling back, forming higher lows throughout the 24-hour period
- Key resistance was confirmed at $154.79, with consolidation emerging around $151 after a high-volume rally, according to CoinDesk Research’s technical analysis model.
- Renewed US-China trade talks in London offer a potential boost to crypto sentiment if progress is made on tariffs and tech access.
Solana’s SOL
posted a solid recovery over the past 24 hours, rising as much as 4.83% before retreating to trade around $152.16. While volatility remains elevated, the cryptocurrency has formed a pattern of higher lows, suggesting underlying strength amid a fragile macro backdrop.
The broader market remains focused on renewed trade talks between the United States and China, which kicked off Monday in London. The meetings bring together top officials, including U.S. Commerce Secretary Howard Lutnick and Chinese Vice Premier He Lifeng, to address longstanding tensions over tariffs and tech restrictions.
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While the two sides struck a temporary truce last month, both have since accused each other of backsliding. Analysts say the rare earth export curbs and AI chip controls remain key sticking points that could influence global market sentiment—including for risk assets like cryptocurrencies.
Amid this uncertainty, Solana’s network continues to show expansion potential, with some institutions projecting price targets as high as $420–$620 in 2026. In the near term, traders will likely watch how macro developments affect appetite for risk-on trades in assets like SOL.
Technical Analysis Highlights
- SOL rose from $148.08 to $155.24 (4.83% range) before retracing
- Price formed a clean uptrend channel from 09:00–21:00 on June 8
- High-volume support established at $152.03, resistance at $154.79
- Price stabilized near $150.91 after the correction
- Uptrend channel resumed early June 9, with strong volume at 07:59 (54,590 units) and 08:02 (23,396 units)
- Resistance was breached at $150.85, followed by sideways consolidation
- Price recovered from $150.53 to $150.98 in the last hourly candle, signaling renewed strength
Disclaimer: Parts of this article were generated with the assistance from 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.
Siamak Masnavi is a researcher specializing in blockchain technology, cryptocurrency regulations, and macroeconomic trends shaping the crypto market. He holds a PhD in computer science from the University of London and began his career in software development, including four years in the banking industry in the City of London and Zurich. In April 2018, Siamak transitioned to writing about cryptocurrency news, focusing on journalism until January 2025, when he shifted exclusively to research on the aforementioned topics.
CoinDesk Analytics is CoinDesk’s AI-powered tool that, with the help of human reporters, generates market data analysis, price movement reports, and financial content focused on cryptocurrency and blockchain markets.
All content produced by CoinDesk Analytics is undergoes human editing by CoinDesk’s editorial team before publication. The tool synthesizes market data and information from CoinDesk Data and other sources to create timely market reports, with all external sources clearly attributed within each article.
CoinDesk Analytics operates under CoinDesk’s AI content guidelines, which prioritize accuracy, transparency, and editorial oversight. Learn more about CoinDesk’s approach to AI-generated content in our AI policy.
