Today, Solana (SOL) achieved a major milestone as JPMorgan structures a short-term bond for Galaxy Digital Holdings directly on its blockchain. According to official statements from Solana Foundation and Galaxy Digital, this represents one of the first U.S. tokenized securities issued on a Layer-1 network.
Solana’s fast and low-cost network allows institutions to issue, settle, and manage digital financial assets efficiently. Analysts say this could accelerate mainstream adoption of tokenized bonds, bridging traditional finance with blockchain.
This also shows that leading banks are considering blockchain technology for issuing assets in the physical world, which could transform the digital securities market.
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SOL is in an ascending channel, and the recent pullback is considered corrective and not a sign of a breakdown. The price has completed a full retracement into a high confluence macro level, which is a historical area where strong buying pressure is observed.
On this foundation of accumulation, the targets of upside follow in measured steps. The initial level of resistance is at $326, then follows the cycle continuation level at $437, then full macro expansion at $545, corresponding to upper channel resistance.
Observing this, analysts at Rose Premium Signals indicate that failure to close above $95.57 in the weekly chart would be an indication of a loss of demand.
Based on data from the TradingView chart, the current position of the RSI in the weekly chart is in the range of 39 to 40, which is below the 50 level. This implies that the bear momentum is still persistent and not weakening.
The RSI is also not in the oversold region yet, as it is above 30, which means that the bear momentum is not yet exhausted. There is also no sign of a bullish divergence yet.
The MACD is still in the negative territory, and the MACD line is below the signal line with a negative histogram that is expanding. This is a clear indication that the negative momentum is accelerating and not stabilizing. It is only when the MACD indicates a flattening trend that one should expect a corrective accumulation.
Solana is also supporting a U.S. tokenized bond, which means that large players like JPMorgan are also experimenting with the blockchain platform for the issuance of actual assets.
The technical accumulation zones in SOL’s charts point to potential altcoin rotation in the coming months.
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