Solana Gains Momentum on Novogratz Praise; Analysts Eye $1,314 Price Objective

Solana Climbs as Novogratz Hails Blockchain’s Market Fit, Analyst Maps Path Toward $1,314

Solana’s SOL rose 6% to nearly $240 on Friday, extending a strong September performance as Galaxy Digital CEO Mike Novogratz and market analyst Ali Martinez spotlighted the token’s potential.

Martinez argued that Solana has broken out of a multi-year cup-and-handle formation, a bullish technical structure often signaling the start of extended rallies. Using Fibonacci retracement levels, he projected a long-term target near $1,314, noting that the decisive move above $220 validates the setup.

Novogratz, appearing on CNBC, said Solana is “tailor-made” for financial markets thanks to its scale — capable of processing up to 14 billion transactions daily, a capacity he suggested could handle global equities, bonds, commodities, and FX combined. He tied Solana’s momentum to regulatory shifts, citing SEC Chair Paul Atkins’ recent comments favoring on-chain markets and Nasdaq’s proposal to support tokenized securities trading.

“Between scalable technology, regulatory progress, and billions in institutional capital, we’re entering what I call the season of SOL,” Novogratz said.

Market Snapshot (Sept. 11–12, UTC)

• SOL gained from $227.14 to $240.02 in 24 hours, up 6%.
• Breakout volumes hit 3.66M contracts, nearly triple the daily average.
• Support formed around $225.50, with resistance emerging at $240.08.
• Late-session activity saw buyers defend $241.17, indicating stronger higher-level support.