- Galaxy Digital purchased 6.5 million SOL worth $1.55 billion within five days.
- Solana fell 3.85% in 24 hours, with the market cap dropping to $128.72 billion.
- Technical indicators show bullish momentum, though RSI nearing 70 signals potential selling pressure.
Galaxy Digital expanded its Solana position with significant purchases over several days. Data from Lookonchain showed the firm added 1.2 million SOL valued at near $306 million within 24 hours. The recent move followed earlier acquisitions that totaled 6.5 million SOL over five days and were worth approximately $1.55 billion.
This level of activity reflected concentrated accumulation by one of the industry’s most visible investment firms. The acquisitions brought Solana under closer market observation, with traders monitoring potential effects on liquidity, exchange flows, and short-term trading patterns.
Solana Current Market Movement Revealed After Galaxy Digital Purchase
Tracking the ongoing price trend at the time of press after the continued Galaxy Digital purchase, CoinMarketCap data reveals that Solana traded at $237.24 , recording a 3.85% daily decline. The price chart displayed steady downward pressure across the session. Earlier movement touched $246.94 before repeated drops lowered trading levels throughout the period shown.
Source: CoinMarketCapDespite the dip, temporary recoveries occurred, yet each rebound met renewed selling that reversed upward moves. By the close of the timeframe, the token fell again, reaching $238.3, its lowest observed point. Market capitalization decreased 3.83% to $128.72 billion during the same period. Trading volume reached $8.5 billion, marking a 2.05% increase despite the overall price decline. The short-term trend indicated consistent intraday volatility dominated by downward momentum.
Can Solana Bulls Put More Pressure After 3.85% 24-Hour Dip?
As the market continues to record bearish signs in the last 24 hours, the SOL weekly performance stands on a bullish path . This recent dip in the last few hours of trading has prompted market watchers to check on the next market action. According to a TradingView technical analysis, the price chart shows a strong upward channel from mid-2025, with the price moving consistently between parallel trend lines.
Source: TradingView (SOL/USD Chart)The recent candle closed near the upper boundary, signaling pressure following extended gains. The MACD indicator displayed bullish momentum, with the MACD line at 12.40 remaining above the signal line at 9.73. The histogram continued positive, though its slope showed early signs of moderation. The RSI reading stood at 66.79, slightly above the neutral 50 level, indicating sustained buying strength.
However, the value remained below 70, showing the market had not reached overbought territory. If current momentum persists, bullish activity may reclaim the slight dip, extending the prevailing uptrend. However, if RSI rises further toward 70 while momentum weakens, selling could pressure the price downward. Both indicators showed short-term strength, but the elevated levels signaled careful monitoring for potential shifts.
