Will Solana’s Price Hit $150 Upon This 949K SOL Purchase?

Forward Industries, a leading digital asset-treasury company, just revealed their Solana (SOL) holdings surpassed $1 billion. The American crypto enterprise said nearly 13% of their quarterly income increase came from Solana (SOL), adding 949,000 SOL tokens to their basket.

The basket’s already enormous: Forward Industries approximately holds 1.4% of Solana’s current circulating coin supply.

The Austin, Texas-based company expressed public trust in Solana (SOL) as a long-term investment vehicle. With their Solana (SOL) stash exceeding $1 billion, other digital assets in the disclosed portfolio didn’t climb past $26 million, while cash-equivalents stood at $7 million.

At $121, Solana’s (SOL) price climbed up by 25% over the past month, bringing the $130 & $150 targets back into bulls’ conversation. This has pushed the speculative  interest to fresh heights: the altcoin netted $9.19 billion on Futures, doubling its Spot market demand on Friday.

Most SOL traders went long on Solana’s (SOL) price, pushing the long versus short ratio slightly above 1. The gradually-growing Open Interest (OI) is another big tell. Leverage utilizing crypto traders are actively placing bets on Solana’s (SOL) price increase, potentially tackling the $130 level. If that holds on the daily time-frame $150 is the one crypto bulls are aiming for next.

Traders are now focused on the Red-Label Bollinger Band (BOLL) at $130, while the end-point price target in the near term remains $150. That’s the yearly high Solana (SOL) price, held in mid-January, before retracing all the way-back to $62.

Right now, Solana’s well-positioned for a $130 retest as the altcoin trades above both fundamental moving averages pictured in the chart.
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