cpeditor
Solana Edges Higher Amid Fresh US-China Trade Talks in London
Solana (SOL) gained modest ground on Monday as investor focus turned to the start of a new round of U.S.-China trade negotiations in London, offering a temporary boost to risk sentiment across global markets.
SOL rose to a session high of $155.24, before settling back near $152.16, marking a 4.83% intraday gain. The move extended a short-term uptrend established over the weekend, supported by higher lows and a bullish breakout above the key $150.85 resistance.
The rally coincides with renewed diplomatic efforts between the U.S. and China, as top officials meet to address disputes on tariffs, tech policy, and commodity exports. While no formal breakthroughs have been announced, markets are reacting positively to the potential for de-escalation.
Key Technical Levels:
- Support: Building at $152.03 after several strong hourly candle closes.
- Resistance: Emerging at $154.79, just below the intraday peak.
- Volume Spike: Notable buy-side interest recorded at 07:59 UTC and 08:02 UTC, with cumulative activity exceeding 77,000 SOL.
- Trend: SOL is holding within a short-term bullish channel, although broader macro volatility remains a risk.
Solana’s ability to maintain price action above $150 could keep bullish momentum alive, particularly if optimism around geopolitical talks continues to buoy global markets.
