Solana by Sol Rallied above $ 239 on Friday, expanding September’s sharp acquisitions, as Galaxy Digital CEO Mike Novogratz described Blockchain as “tailored” for global financial and analyst Ali Martinez’s global marketplace a potential path to $ 1,314.
Martinez, a well -known crypto analyst, Highlighting Solana’s breakout from what technicians chart calls a cup-and-handle pattern, a formation that often indicates the start of a long-term rally.
In his chart, Martinez marked $ 1,314.41 as the main technical target, using FIBONACCI’s restracement levels to reverse Solana. The pattern reflects a multi-year basing structure: Solana’s deep collapse in 2022 and 2023 formed the “cup,” while the combination of 2024 and early 2025 formed the “handle.”
According to Martinez, the breakout above the fight near $ 220 confirms the structure and will open its way to a higher level if the momentum continues.
Novogratz, speaks to CNBC’s “Squawk Box”Aid out A case of sweeping for Solana and Crypto more widely. He started by pointing to Treasury companies tied to both ETH and Sol, which he said raising billions -billions of dollars and carrying “lots of energy and money” to the digital asset ecosystem.
He then pivoted Bitcoin, predicting the world’s biggest cryptocurrency should see a flow at the end of the year.
But his most detailed comments dedicated to Solana and the change of regulation scene. Novogratz said the US SEC seat Paul Atkins made it clear that he wanted to move all markets, citing a Speaking Earlier in the week where Atkins declared, “the agent’s on-chain and financial markets were on the horizon, and the world was watching.”
As part of that backdrop, that Novogratz’s Nasdaq’s proposal In the SEC to allow tokenized securities to be converted directly to the NASDAQ Stock Market. Combined with the new US Stablecoin plot, he argued, finally with both the technology and the clarity of regulation to serve as a financial market infrastructure.
On the side of the technology, Novogratz emphasized Solana’s raw capacity, saying that the blockchain could hold 14 billion transactions per day -enough, in its words, “to process all transactions with equality -equivalent, fixed income, goods and combined -with the exchange.” He went to call Solana a “tailored” blockchain for financial markets.
Adding this-measuring infrastructure, a pro-blockchain regulatory stance and billions of new institutional flows-Novogratz has decided that “this is the Sol period,” one moment when Solana is positioned to take the leading role as capital markets that move to the chain.
Technical assessments (September 11 15:00 – September 12:00 UTC)
- According to CoinDesk’s technical review data model, SOL gained about 6% in 24-hour period, climbing from $ 227.14 to $ 240.02, with trade volumes reaching 3.66 million contracts.
- The token destroyed above eight months of resistance to $ 220, hitting $ 240 in the first time since January as institutional consumers increase exposure.
- The strongest rally took place at the last time of trading (13: 14–14: 13 UTC on September 12)When Sol advanced another 1% from $ 239.92 to $ 241.17.
- The most dramatic breakout arrived only after the UTC midnight on September 12, when the volume advanced to 3.66 million contracts-the 24-hour average of 1.46 million.
- The support was established around $ 225.50 during early integration -together, as the resistance emerged at $ 240.08, where some rallies were initially stuck.
- Strong trading volume at $ 228.78 (3.66 million contracts) That level confirmed as a major zone support.
- The busiest trade window is 14: 09–14: 11 UTC, with 214,368 contracts that change hands -almost six times the average time average.
- A fresh support level is formed near $ 241.17, suggesting that consumers are willing to defend higher prices even after the breakout.
Denial: Parts of this article were formed with assistance from AI tools and our editorial team reviewed to ensure accuracy and compliance with our standards. For more information, see CoinDesk’s entire AI policy.
