Geopolitical tensions and evolving trade policies continue to shape cryptocurrency markets, with Solana emerging as a focal point amid global economic uncertainty.

SOL has shown impressive recovery strength, climbing 8% from its April 30 low of $140 to around $152, with daily trading volume jumping 35% over 24 hours. This resilience comes as US-China trade relations deteriorate, creating ripple effects across traditional and digital asset markets.

The move comes as the broader market gauge CoinDesk 20 Index, climbed about 4% on Thursday.

Technical Analysis Highlights

• SOL recovered from a significant 7.4% correction on April 30, dropping from 148.03 to 140.63 before reaching new period highs at 152.69.
• Overall trading range of 12.04 points (8.3%) showcases volatility, with strong support established at 140.65.
• Volume analysis reveals heightened trading during the correction (2.4M+ volume) followed by sustained buying interest during recovery.
• Recent price action forms an ascending channel with resistance at 152.50, while the 148.50-149.50 zone serves as a key support level, according to CoinDesk Research’s technical analysis data.
• Bullish momentum appears sustainable with higher lows forming, suggesting potential continuation toward the 155.00 psychological level.
• In the last 100 minutes, SOL experienced significant volatility, dropping sharply from 152.38 to a low of 150.74 before staging a V-shaped recovery to 152.49.
• Key support established at 151.10, where substantial buying volume (44K+) emerged.
• A mid-session rally from 151.22 to 152.60 coincided with the highest volume spike (126K at 14:00), indicating strong institutional interest.
• The short-term ascending channel was established with resistance at 152.68 and support at 152.32.
• The 152.45-152.50 zone now serves as immediate resistance that could determine near-term direction.

Disclaimer: This article was generated with 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. This article may include information from external sources, which are listed below when applicable.

External References:

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

Coinbase will suspend trading of Movement’s MOVE token, citing «recent reviews,» following a CoinDesk investigation into market-making deals that experts said incentivized price manipulation.

The token fell more than 13% on the trading suspension news, while the broader market gauge CoinDesk 20 Index rose 4.4%.

Movement Labs is currently investigating how a market maker may have gained access to a significant number of its tokens, which were then dumped on retail investors, causing its price to tank. The market maker, Web3Port, appears in contracts previously reported by CoinDesk.

According to the CoinDesk report, Movement Labs co-founder Cooper Scanlon told employees last month that the firm was investigating how Rentech, which Movement believed was a subsidiary of Web3Port, got a hold of over 5% of Web3Port’s MOVE tokens.

According to contracts obtained by CoinDesk, Rentech had the ability to liquidate all of its tokens under certain circumstances, which experts said could have created an incentive for the firm to increase the token’s value.

Crypto exchange Binance later banned Web3Port, the market-maker, after $38 million in MOVE tokens in wallets tied to Web3Port were liquidated following MOVE’s exchange debut.

Coinbase did not share many details about the trading suspension, just announcing that it would do so on May 15 by 2:00 p.m. Pacific Time (21:00 UTC).

Coinbase said it has already switched its order books to «limit-only mode» for MOVE tokens, meaning trades will only be executed at certain prices, rather than a token’s spot price.

Read more: Inside Movement’s Token-Dump Scandal: Secret Contracts, Shadow Advisers and Hidden Middlemen

UPDATE (May 1, 2025, 17:18 UTC): Adds additional context.

The Cosmos ecosystem is gaining significant institutional attention amid broader market volatility, with ATOM showing remarkable resilience after recovering from a drop to $4.23 on April 30th to stabilize above $4.38.

The price of ATOM rose more than 4% in the last 24 hours, while the broader market gauge CoinDesk 20 Index climbed nearly the same amount.

This recovery comes as Canary Capital files for the first spot Sei ETF built on Cosmos SDK, featuring staking capabilities that could set a precedent for similar products across the ecosystem.

Meanwhile, Figure’s Provenance blockchain, also built with Cosmos SDK, has emerged as the leader in tokenized private credit with $9.9 billion in active loans, validating BlackRock CEO Larry Fink’s vision that «every asset can be tokenized.»

Technical Analysis: ATOM’s Recovery Pattern

• ATOM-USD has demonstrated remarkable resilience over the analyzed period, recovering from a significant drop to $4.23 on April 30th to stabilize above $4.38 by May 1st.
• The overall range of $0.31 (6.9%) reflects moderate volatility, with strong support established at $4.30-$4.32, according to CoinDesk Research’s technical analysis data.
• Recent price action shows a developing uptrend with higher lows forming since April 30th, accompanied by increasing volume during recovery phases.
• The Fibonacci retracement from the April 29th high suggests the current price has reclaimed the 61.8% level, with resistance at $4.41-$4.42 representing the next significant hurdle before potential continuation toward previous highs.
• ATOM-USD has shown significant volatility in the last 100 minutes, experiencing a sharp decline from $4.41 to a low of $4.35 before staging a recovery to $4.38.
• The price action formed a V-shaped pattern, with strong buying emerging at the $4.35-$4.36 support zone. This was accompanied by notably higher trading volumes during both the selloff (peaking at 103,987 units at 14:00) and subsequent recovery.
• Recent price movement has established a short-term uptrend with higher lows since 13:57, with the current price consolidating near $4.38-$4.39, suggesting stabilization after the earlier volatility and potential for continued upward momentum if the $4.39 resistance level can be breached.

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.

References:

1. Bitcoinist, «Bitcoin Nears Golden Cross as MVRV Ratio Builds Momentum – Is a Breakout Coming?«, published April 7, 2025.
2. Bitcoinist, «Best Presales to Buy as Institutional Flows Return to Bitcoin, Says BlackRock«, published April 7, 2025.
3. Blockworks, «How Private Credit Tokenization Is Leading the Race in Tokenization«, published April 30, 2025.
4. CryptoNews, «Canary Capital Files for First Spot Sei ETF in US, Includes Staking Component«, published April 24, 2025.