Crypto Journalist
Anas Hassan
Crypto Journalist
Anas Hassan
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SOL price prediction scenarios have intensified as Solana broke through $209 resistance levels while Galaxy Digital made blockchain history by launching SEC-registered GLXY tokens directly on the Solana network.
This marks the first time a publicly listed U.S. equity has been issued natively on a major public blockchain.
Technical analysis reveals SOL maintaining its position above key ascending support around $190-200, with multiple projections targeting $225-291 in the coming months.
Galaxy Digital Develops Blockchain Equity Integration
Galaxy Digital launched tokenized GLXY shares, allowing holders of SEC-registered Class A common stock to convert shares into native tokens on Solana.
Each on-chain GLXY represents an actual share with identical legal and economic rights as traditionally held stock, not wrapped derivatives.
The tokenization process requires KYC verification through Superstate, Galaxy’s digital transfer agent.
Only allowlisted addresses can hold or receive tokens, which is implemented to preserve shareholder records and meet AML obligations while allowing corporate actions.
Galaxy selected Solana for its speed, throughput, and growing role as a high-volume spot trading Layer-1 blockchain.
The firm emphasized primary issuance on L1 networks to preserve unilateral exits and minimize centralized control points, though Ethereum support is planned for future phases.
Trading restrictions currently limit tokenized GLXY to bilateral transfers between KYC-approved addresses.
AMM and DEX trading remains unavailable pending regulatory clarity, though Galaxy argues automated market makers should function as autonomous escrow mechanisms rather than regulated exchanges.
Ascending Support Structure Maintains Bullish Framework
As the market is gearing up, SOL’s 4-hour chart maintains its position above the key ascending trendline support that has provided a foundation throughout the rally from $120 to the current $209 levels.
The blue ascending support line confluences with the 200-period EMA around $190, which creates a strong technical foundation for continued momentum.
Similarly, the RSI reading of 14 suggests SOL approaches oversold conditions on this timeframe, potentially supporting bounce scenarios if ascending support holds.
The MACD indicator shows values around 12.26, maintaining positive momentum despite recent consolidation.
Stochastic readings of 14.1 also indicate potential for short-term upside if SOL sustains above ascending support levels.
However, momentum indicators are already at elevated levels, suggesting limited room for expansion before potential divergences develop.
This technical setup requires careful monitoring of support integrity around $190-200 zones.
Channel Projections Target $291 Following Support Retest
Daily chart analysis reveals SOL’s movement within a well-defined ascending channel structure, with September projections indicating an initial support test, followed by a resumption toward channel resistance.
SOL is currently around $208, and occupies middle channel territory with projected decline toward $190-200 support before rallying toward $240 upper boundary.
Multi-target analysis reveals SOL positioned within converging trendlines, with horizontal resistance levels marked at $174.36, $211.99, $ 224.10, and $291.04.
The current projection suggests a specific sequence involving a decline toward the $170 support level, followed by recovery, ultimately targeting $291, representing an approximately 40% gain from current levels.
Moreover, a weekly comparison to autumn 2023 price action, around $24, suggests a similar consolidation pattern may be developing at higher absolute levels.
As it stands now, SOL may be building energy for another major leg higher, potentially targeting the $400-500 range based on measured moves from the current consolidation.
The immediate focus centers on SOL’s ability to maintain above the ascending support while building momentum for an assault on the $225-240 resistance zone.
A successful break above these levels would validate more optimistic projections toward $291 and beyond.
Is Snorter the Next 100x Telegram Bot Everyone’s Using?
While SOL prepares for a potential breakout toward new highs, this new trading bot is already showing strong presale performance.
Smart traders know that finding the right utility token early can lead to massive returns during bull markets.
Snorter is getting attention because it makes Solana trading faster and safer. The bot works inside Telegram and can buy tokens in under one second using private RPC connections.
The presale has raised over $3.6 million so far. Early buyers can earn around 127% staking rewards for holding their coins.
Above all that, here’s what matters: the best trading tools get adopted quickly once they prove they work.
Snorter launches fully in Q3 2025 with features like copy trading and rug pull protection. This means you should buy soon if you want presale prices.
You can buy SNORT tokens on their website using SOL, ETH, USDT, or credit cards.
Visit the Official Website Here
