by Solana (SOL) Rallies Amid Bullish Predictions
Solana’s native cryptocurrency, SOL, has experienced a substantial rally, recently surpassing the $239 mark. This surge is a continuation of its impressive gains throughout September, fueled by optimistic predictions from influential figures in the cryptocurrency space.
Mike Novogratz’s Bullish Outlook on Solana
Galaxy Digital’s CEO, Mike Novogratz, has been vocal about his belief that Solana is “tailor-made” for global financial markets. In a recent interview on CNBC’s “Squawk Box,” Novogratz laid out a compelling case for why SOL and the broader cryptocurrency sector are positioned for significant growth. He emphasized that treasury companies linked to both Ethereum (ETH) and Solana are amassing billions, injecting vital energy and capital into the digital asset ecosystem.
Technical Analysis of Solana’s Price Movement
Renowned crypto analyst Ali Martinez has charted a potential price target of $1,314.41 for SOL, based on a technical analysis that highlights a breakout from a cup-and-handle pattern. This formation is often indicative of a long-term bullish trend. Martinez’s analysis reveals that the “cup” formed during Solana’s deep decline in 2022 and 2023, while the “handle” took shape through sideways consolidation in 2024 and early 2025.
Understanding the Cup-and-Handle Pattern
The cup-and-handle pattern is a well-known technical analysis formation that signifies a potential upward trend. As Solana broke through the resistance level near $220, it validated the bullish structure and opened the door for further price increases, provided that momentum continues.
Regulatory Landscape and Institutional Interest
Novogratz also addressed the evolving regulatory landscape for cryptocurrencies. He pointed out that U.S. SEC Chair Paul Atkins is advocating for the transition of all markets to on-chain systems. In a recent speech, Atkins stated, “On-chain capital markets and agentic finance are on the horizon, and the world is watching.” This regulatory shift, combined with Nasdaq’s proposal to allow tokenized securities to be traded directly on its stock market, indicates a promising future for cryptocurrencies.
Solana’s Technical Advantages
In terms of technology, Novogratz highlighted Solana’s impressive capabilities, claiming that the blockchain can handle up to 14 billion transactions per day. This processing power is sufficient to accommodate all transactions across equities, fixed income, commodities, and foreign exchange markets, making Solana uniquely suited for financial applications.
Current Market Performance and Trading Analysis
According to CoinDesk Research’s technical analysis data model, Solana’s SOL gained approximately 6% within a 24-hour period, rising from $227.14 to $240.02. This upward movement was marked by an increase in trading volumes, reaching 3.66 million contracts. The token broke through a significant resistance level at $220, hitting $240 for the first time since January, as institutional investors began to add SOL to their portfolios.
Key Support and Resistance Levels
During early consolidation, a support level was established around $225.50, while a resistance level emerged at $240.08, where several rallies initially faced obstacles. Notably, a significant breakout occurred just after midnight UTC on September 12, with trading volumes surging to nearly triple the average, confirming the strength of the bullish trend.
Looking Ahead: What’s Next for Solana (SOL)?
As Solana continues to gain traction, analysts and investors alike are keenly watching its price movements and the overall market sentiment. Should the bullish momentum persist, the $1,314 target identified by Martinez may not be out of reach. The combination of technological advancements, regulatory clarity, and institutional investment provides a solid foundation for Solana’s future growth.
Conclusion: Is This the Season of SOL?
With a robust technical framework and a favorable regulatory environment, many believe that Solana is poised to play a significant role in the capital markets as they transition on-chain. As Novogratz aptly put it, “this is the season of SOL,” and for investors, it may be the ideal time to explore opportunities in this promising cryptocurrency.
How to Buy Solana (SOL)
If you’re looking to invest in Solana, be sure to check out our comprehensive guides on how to buy Solana and other cryptocurrencies. With several platforms available like Binance, Kraken, and eToro, entering the crypto market has never been easier.
Meta Description: “Discover why Solana (SOL) is rallying as Mike Novogratz calls it ‘tailor-made’ for financial markets, with a predicted price target of $1,314. Explore the technical analysis, regulatory landscape, and what the future holds for SOL.”
