“SOL GAINED 6% TO TRADE NEAR $ 240 As the Galaxy Digital CEO Explained Who Is Bullish on Solana and A Top Analyst Projected A Technical Breakout Pointing Town $ 1.314.”, – WRITE: www.coindesk.com
Martinez, A Well-Known Crypto Analyst, Highlighted Solana’s Breakout from What Chart Technicians Call A Cup-Aandle Pattern, A Formation of the Father of the Field.
In his chart, Martinez Marked $ 1,314.41 as the main Technical Target, using Fibonacci Retracement Levels to Project Solana’s Upside. The Pattern Reflects A Multi-Year Basing Structure: Solana’s Deep Decline in 2022 and 2023 Formed the “Cup,” White The Sideways Consolidation of 2024 and Early 2025 ForMed.
Accorness to Martinez, The Breakout Above Resistance Near $ 220 Validates The Structure and Opens the Way to Much Higher Levels If Momentum Perssts.
Novogratz, Speaking on CNBC’s “Squawk Box” Thursday, Laid Out A Sweeping Bull Case for Solana and Crypto More Broadly. He Began by Pointing to Treasury Companies Tied to Both Eth and Sol, WHICH HE SAID Are Raising Billions of Dollars and Bringing “Lots of Energy and Money” Into.
He then pivotted to bitcoin, predicting the World’s Largest Cryptocurrency Should See a Surge Town of the End of the Year.
But his most detailed remarks focused on Solana and the changing regulatory Landscape. Novogratz said US sec chair paul atkins have been mora that clear that hest all markets to move on -chain, Citying a speech earlier in the weekes atkins Declared, “On-Chain CAPIT The Horizon, and The World Is Watching. ”
As part of that Backdrop, Novogratz flagged nasdaq’s proposal to the sec to allow tokenized securities to be traded Directly on the Nasdaq Stock Market. Combined with the New US Stablecoin Framework, He Argued, Crypto Finally Has Both the Technology and the Regulatory Clarity to Serve as Financial Market InfrastRUCTURE.
On The Technology Side, Novogracraz Emphasized Solana’s Raw Capacity, Saying The Blockchain Canlele 14 Billion Transactions Per Day – Enough, In His Words, “To Process All The Transactions Commodities and Foreign Exchange Combined. ” Hew on to Call Solana a Blockchain That Is “Tailor-Made” for Financial Markets.
Adding It Up-Scalable Infrastructure, A Pro-BlockCchain Regulatory Stance and Billions in New Institutional Inflows-Novogratyz Concluded that “the this is the Season of Sol,” Leading Role As Capital Markets Shift on-Chain.
Technical Analysis Highlights (Sept. 11 15:00 – Sept. 12 14:00 UTC)
- Access to Coindesk Research’s Technical Analysis Data Model, Sol Gained About 6% in the 24-HOUR PERIOD, Climbing from $ 227.14 to $ 240.02, With Trading Volumes Reaching 3.66
- The Token Broke Above Eight Months of Resistance at $ 220, Hitting $ 240 For The First Time Since January as Institutional Buyers Aded Exposure.
- The Strongest Rally Occurred in the Final Hour of Trading (13: 14–14: 13 UTC On Sept. 12), WHEN SOL ADVANCED ANOTHER 1% from $ 239.92 to $ 241.17.
- The MOST DRAMATIC BREAKOUT CAME Just After Midnight UTC on Sept. 12, WHEN VOLUME SURGED TO 3.66 MILLION Contracts-Nearly Triple the 24-HOUR AVERAGE OF 1.46 Million.
- Support Was Establized AROUND $ 225.50 During Early Consolidation, While Resistance Emerged at $ 240.08, WHERE SEVERAL RALLIES INITIALLY STALLED.
- Heavy Trading Volume AT $ 228.78 (3.66 Million Contracts) ConfirMed that level as a key Support Zone.
- The Busiest Trading Window Was 14: 09–14: 11 UTC, With 214,368 Contracts Canging Hands – Nearly Six Times The Typical Hourly Average.
- A Fresh Support Level Has Now Near $ 241.17, Suggesting Buyers Are Willing to Defend Higher Prices Even After The Breakout.
Disclaimer: Parts of this Article Were Generated with the Assistance from Ai Tools and Review by Our Editorial Team to Enseure Accucy and Adherence to Our Standards. For more information, See Coindesk’s Full Ai Policy.
The Winklevoss-Led Crypto Exchange Had Sold 15.2 Million Shares, Raising $ 425 Million.
- Gemini Shares Flew Higher to $ 41 in Early Trades After Last Night’s IPO.
- The Company Raceded $ 425 Million Through the Sale of 15.2 Million Shares at $ 28 Each, Valuing It at About $ 3.3 Billion.
- Gemini’s IPO Follows a growing list of Crypto Firms, Including Bullish, Circle, Etoro and Figure Technologies, that Have Gone Public In 2025.
Read Full Story