Galaxy Digital Solana: SOL Chart Forms Cup-and-Handle Pattern Breakout

Galaxy Digital Solana Buys Hit $1.55 Billion in Five Days

Galaxy Digital Solana has stepped up its purchases in a big way, shared by a recent post of Lookonchain on X . The On-chain data shows the firm bought about $306 million worth of SOL in just 24 hours through 15 transactions across major exchanges like Binance, Coinbase, and Bybit.

In total, Galaxy Digital Solana acquisitions over the past five days have reached nearly 6.5 million SOL which is valued around $1.57 billion. Most of these tokens were moved to Fireblocks custody wallets, signaling that the firm is preparing for long-term holding.

Source: X

Solana Price Sees Dip Despite Heavy Buying

Even with strong accumulation, as per the data of CoinMarketCap, SOL’s price dropped 5.42% in the past 24 hours to trade near $234.55 (at the time of writing). Crypto experts note that this shows large institutional purchases do not always stop short-term volatility.

Source: CMC

However, the activity makes it clear that big players are confident in the network’s future even if price moves remain uneven in the short run. As on September 13, the firm bought 5 million Sol worth $1.16 billion.

On September 12, it purchased Solana valued at $486million . This regular buying shows the firm's confidence in asset.

Firm's Partnerships Add Strategic Value

Alongside accumulation, the company teamed up with Jump Crypto and Multicoin Capital to lead a $1.65 billion private placement for Forward Industries. The Nasdaq-listed firm is shifting into a asset treasury model.

Firm involvement in this deal suggests a broader push to strengthen institutional participation in the ecosystem. Forward’s stock has already rallied more than 600% this year, which is showing investor excitement.

Technical Chart: Cup-and-Handle Formation

The asset price chart is also showing a constructive pattern. Analysts highlight a cup-and-handle formation with neckline resistance between $245 and $250. If the breakout confirms, measured targets point toward $320–$340.

Source: X

Support remains strong around $239 and $224 while an ascending trendline from 2021 continues to provide a base. Repeated testing of resistance zones and combined with Galaxy Digital asset buying that suggests the momentum could be building toward a larger move.

Conclusion

Galaxy Digital Solana accumulation is shaping up as one of the biggest institutional bets in crypto this year. While price may face near-term swings and technical setups, strategic treasury growth signals a long-term bullish case for SOL.