Solana (SOL) price has started a recovery wave, climbing above the $130 mark after consolidating near $125.
The price now faces resistance close to $135 and $140 levels, signaling potential for further gains.
SOL is trading above its 100-hour simple moving average with a bullish trend line supporting the $130 zone on the hourly chart, according to trading data from Kraken.
Despite this positive momentum, institutional investors bear significant losses as nearly 79.6% of Solana’s circulating supply is currently underwater at a price near $126.9. This highlights the high concentration of holdings in a top-heavy market before the recent downturn, as noted by on-chain analytics from Glassnode.
Forward Industries Faces $668M Loss Amid SOL Price Dip
Forward Industries (NASDAQ: FWDI), holding over 6.9 million SOL tokens (about 1.1% of supply), faces an unrealized loss of approximately $668 million.
The company acquired SOL at an average price of $230, while current token valuations have plunged below $130.
This marks a loss of 44.2% on their investment. Despite the price drop, Forward Industries continues to stake its tokens, maintaining yield and portfolio position.
This substantial loss underscores the mounting pressure Digital Asset Treasury companies face amid volatile crypto markets.
While other major holders like Strategy have unrealized profits on BTC holdings, and Bitmine’s ETH holdings suffer losses, Forward’s Solana treasury highlights the amplified risks particular to large, leveraged crypto asset positions.
The company’s stock has also fallen sharply, with market cap now under the value of its SOL holdings.
SOL Market Outlook and Resistance Levels
Technically, Solana’s immediate resistance zones are $135 and $140, with further hurdles at $145 and $155. If the price fails to clear $135, support levels at $130 and $127 may come into play.
Broader market dynamics show that open interest in Solana futures has stabilized around 8 million contracts, suggesting consolidation and cautious positioning among traders awaiting new catalysts for recovery.
The ongoing recovery and institutional stance set the stage for a pivotal moment in Solana’s price action.
Forward Industries’ commitment despite heavy losses signals confidence in future rebounds, but the market’s prevailing caution reflects broader uncertainty in crypto asset treasuries.