SOL Climbs as Novogratz Endorses Solana for Financial Markets, Bullish Forecast Points to $1,314

Solana Rallies as Novogratz Calls Blockchain ‘Tailor-Made’ for Finance; Analyst Maps Path Toward $1,314

Solana’s native token SOL climbed 6% to trade near $240 on Friday, building on September’s strong momentum, after Galaxy Digital CEO Mike Novogratz outlined a bullish case for the blockchain and market analyst Ali Martinez projected a long-term breakout target above $1,300.

SOL surged past $239, marking its highest levels since January, as Martinez highlighted a classic “cup-and-handle” formation on the token’s multi-year chart. Using Fibonacci retracement levels, he identified $1,314 as the next major upside objective. The technical setup reflects Solana’s deep retracement through 2022–2023 (“cup”) followed by the extended consolidation seen throughout 2024 and early 2025 (“handle”). Martinez argued the breakout above $220 validates this structure and sets the stage for higher levels if momentum persists.

Novogratz, speaking on CNBC’s Squawk Box Thursday, backed the bullish narrative with a broader thesis on crypto’s role in global markets. He pointed to institutional treasury activity in both ETH and SOL, noting billions in new inflows driving growth across the sector. While also reiterating his year-end bullish stance on Bitcoin, Novogratz emphasized Solana’s specific fit for financial infrastructure.

Citing SEC Chair Paul Atkins’ recent remarks calling for all capital markets to move on-chain, Novogratz linked the policy shift with Nasdaq’s proposal to allow tokenized securities to trade directly on its exchange. Coupled with the newly passed U.S. stablecoin framework, he argued these developments provide both the regulatory clarity and technological foundation needed to push digital assets into mainstream financial architecture.

“Solana can process 14 billion transactions per day — enough to support equities, bonds, commodities, and FX combined,” Novogratz said, calling the blockchain “tailor-made for financial markets.” He framed the convergence of scalability, favorable regulation, and surging institutional inflows as what he called “the season of SOL.”

Technical Analysis (Sept. 11–12, UTC)

• SOL gained 6% over 24 hours, climbing from $227.14 to $240.02 with trading volumes of 3.66 million contracts.
• The breakout cleared eight months of resistance near $220, with momentum accelerating into the close.
• The sharpest rally occurred between 13:14–14:13 UTC on Sept. 12, lifting SOL another 1% from $239.92 to $241.17.
• A major surge just after midnight UTC saw volumes nearly triple the daily average.
• Key support established at $225.50; new resistance tested at $240.08.
• Heavy institutional flows confirmed $228.78 as a strategic support zone.
• Late-session trading showed buyers defending $241.17, hinting at a fresh higher base.

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