Solana eyes KEY resistance amid $192M SOL whale transfer!

Key Takeaways 

Why are investors closely watching Forward Industries’ SOL transfer?

Because its $192M deposit to Coinbase Prime could signal institutional portfolio restructuring or deeper market positioning.

What does the positive funding rate reveal about Solana’s market sentiment?

It shows renewed trader confidence, with more investors opening long positions after recent volatility.

Forward Industries recently transferred 993,058 Solana [SOL], worth approximately $192 million, to Coinbase Prime, along with an additional $50 million sent to Galaxy Digital, sparking market-wide speculation.

The firm, previously known for its $1.38 billion Solana purchase at $232 per token, may be adjusting its exposure following an extended period of market consolidation.

Solana Strategies doubles down while others hedge positions

In contrast, Solana Strategies (NASDAQ: STKE) expanded its holdings by acquiring 88,433 SOL at an average of $193.93, including 79,000 locked tokens from the Solana Foundation. 

The purchase increased its treasury to 523,433 SOL, reinforcing long-term confidence despite price swings. 

This opposing institutional behavior — one reducing exposure and another accumulating — mirrors a market split between short-term caution and strategic optimism. 

Such divergence often precedes directional clarity, as large holders position for the next major price cycle.

Solana regains strength from a KEY demand zone

After rebounding from the $176 demand zone, Solana has regained momentum within its ascending channel, trading near $206 at press time. 

The RSI was 49.41, signaling recovering buying strength after briefly dipping into oversold territory. Meanwhile, the 9-day Moving Average (MA) has crossed above the 21-day MA, indicating the early stages of a potential bullish shift.

If Solana sustains this upward trajectory and breaks the $222 resistance, the next upside target could extend toward $262. 

Both indicators highlight strengthening momentum, suggesting that Solana’s short-term trend is gradually tilting in favor of buyers after an intense correction phase.

Source: TradingView

Funding Rates flip positive as confidence quietly returns

Across derivatives markets, Solana’s aggregated Funding Rate stood at +0.005% at the time of writing, showing a gradual revival in trader confidence after recent volatility. 

Positive Funding Rates indicate that more traders are opening long positions, reflecting an improving outlook across perpetual markets. 

This shift often suggests a stronger willingness to pay premiums for upside exposure, typically seen when sentiment begins to recover from bearish extremes. 

The steady return of long-biased positioning, coupled with stable price action above $200, reinforces the view that optimism is returning to Solana’s derivatives market.

Source: Santiment

Strategic rotation or bullish accumulation?

Forward Industries’ recent transfer likely signals a treasury reshuffle rather than a market exit, while Solana Strategies’ increased holdings reinforce the trend of strong institutional accumulation.

With Funding Rates remaining stable and Solana’s price recovering above $200, market confidence appears to be strengthening.

The combination of consistent on-chain activity, improving technical indicators, and bullish sentiment in derivatives markets suggests that Solana is entering a fresh accumulation phase, led by strategic institutional interest.