Solana rebounds as markets await Fed decision
Solana continues to recover alongside Bitcoin as market sentiment improves following the agreement between the United States and Iran.
The relative calm in the Middle East has provided support for risk-sensitive assets, including Solana. The upcoming signing of a memorandum between the U.S. and Iran has helped boost sentiment across the cryptocurrency market. However, it is important to remember that this is only a preliminary memorandum.
The contours of a final agreement will become clearer after a 60-day period of consultations and negotiations. This is where the main risk lies — the deal could still collapse at any stage.
In addition, Israel is not a party to the negotiations, which adds another layer of uncertainty.
Another positive factor is the gradual return of capital inflows into cryptocurrency ETFs. On June 15, SOL ETFs recorded a modest inflow of $2.81 million.
Solana faces a critical resistance zone
Over the past five days, SOL/USD has gained more than 17%, despite declining trading volumes.
The most important resistance zone is located between $75.50 and $76.00. A breakout above this area would likely require a strong catalyst accompanied by higher trading volume.
If buyers manage to push through this range, the price could move toward the $78–$81 zone.
However, it is still too early to talk about a medium-term trend reversal until Solana establishes itself above $80.
The expected trading range for today is $71–$75.50. There is also a high probability of a doji candlestick forming on the daily timeframe.
If this scenario materializes, traders could see a retest of the local support level near $68.50.
Markets await a key signal from the Fed
The Federal Reserve's interest rate decision will be announced on June 17. However, market participants are expected to focus even more closely on the Fed's press conference, which could provide important clues about the future direction of monetary policy.
A hawkish stance from the Federal Reserve could reduce market liquidity and trigger renewed selling pressure across risk assets.
It is also worth noting that President Trump may continue pressuring policymakers. With negotiations between the U.S. and Iran progressing and oil prices moving lower, inflationary pressure could ease, strengthening the argument for lower interest rates.
While such a scenario would likely be positive for financial markets in the short term, it could also contribute to the formation of a larger speculative bubble over the medium term.
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