Solana is once again testing traders’ patience as its price moves sideways near a crucial support zone between $123 and $129. While the chart shows hesitation, fresh corporate buying and new blockchain projects are keeping market sentiment cautiously optimistic.
At the time of writing, SOL continues to hold this key range, a level many analysts see as decisive for short-term direction. A sustained break below $123 could send the token sliding toward $116 and threaten the base of a year-long descending triangle pattern. On the upside, holding current levels may allow bulls to target a rebound toward the mid-$130s, especially if broader crypto markets remain constructive and spot inflows stay positive.
Adding to the story is Forward Industries, a Nasdaq-listed firm that has quietly built one of the largest corporate Solana treasuries. According to a company press release, Forward has accumulated more than 6.97 million SOL since mid-December. The firm began its Solana treasury strategy in September 2025 and has already earned over 133,450 SOL through staking rewards.
Rather than simply holding tokens, Forward says it is using on-chain yields to increase Solana per share, effectively compounding its position over time. The company also revealed it has become the first publicly traded firm to offer its shares directly on-chain, expanding its presence within the Solana ecosystem.
This accumulation comes as altcoins attract renewed attention in the new year. Institutional investors appear increasingly willing to look beyond Bitcoin, searching for opportunities across major layer-1 networks and infrastructure plays.
From a technical perspective, Solana’s chart remains mixed. Market data shows the token approaching the base of a year-long descending triangle, with price currently retesting a two-year demand zone. Momentum indicators reflect indecision rather than panic. The Relative Strength Index has slipped slightly below neutral, while the MACD recently formed a death cross — signals that often point to consolidation rather than a clear trend shift.
Resistance levels established since September continue to limit upside progress. For Solana to mount a serious recovery toward its previous all-time highs, it would need a decisive breakout above these long-standing barriers.
Beyond price action, developments in the broader ecosystem are shaping expectations. A new project called Bitcoin Hyper has raised presale funding for a Layer-2 network built on the Solana Virtual Machine. The goal is to combine Bitcoin’s security with Solana’s speed and low fees, tackling Bitcoin’s long-standing limits around transaction throughput, costs, and programmability.
Bitcoin Hyper plans to enable decentralized finance applications and real-world asset tokenization directly linked to Bitcoin — features that have remained largely out of reach on the base layer.
For now, Solana’s outlook remains balanced. Strong support, growing corporate adoption, and expanding use cases provide a foundation, but technical risks still loom. Whether SOL can hold above $123 may decide if the next move points toward recovery — or deeper consolidation in the weeks ahead.
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