- Solana price entered a long-term accumulation zone between $70 and $50.
- Forward Industries transferred $31.9 million worth of SOL to Coinbase Prime.
- Support near $62.66 remains critical for short-term price direction.
Solana price is drawing attention after entering a long-term accumulation zone identified by market analyst Crypto Patel. The analyst stated that he has started accumulating SOL within the $70 to $50 range while maintaining a multi-year outlook. At press time, Solana price traded at $64.86, up 3.24% over the past 24 hours.
Solana Price Enters Strategic Accumulation Range
Crypto Patel described the current market area as a long-term accumulation zone for Solana price. According to his analysis, bear markets often create opportunities for investors with longer investment horizons.
The analyst pointed to Solana’s previous market cycle, where the asset delivered substantial gains after an extended accumulation phase. Based on historical performance, he outlined long-term targets between $500 and $1,000, while emphasizing that market conditions remain uncertain.
Solana price currently trades near the middle of the identified accumulation range. Traders are closely monitoring whether support levels continue to hold as volatility remains elevated across the crypto market.
Technical indicators show that the $62.66 level, which aligns with the 50% Fibonacci retracement, remains a critical support zone. Holding above this area could allow Solana price to revisit the $67 to $69 resistance range.
Solana Price Faces Pressure From Large Holder Activity
Despite growing accumulation interest, large wallet activity has added a cautious tone to the market. Blockchain analytics platform Lookonchain reported that Forward Industries transferred 455,784 SOL worth approximately $31.9 million to Coinbase Prime.
The transfer occurred after a month of inactivity and attracted attention because of the company’s large Solana holdings. Since adopting a Solana treasury strategy in September 2025, Forward Industries has acquired roughly 6.83 million SOL at an average cost of $232 per token.
Lookonchain estimates those holdings are now worth about $458.6 million. The movement of such a large amount of SOL has led some traders to monitor potential selling pressure.
If Solana price remains above $62.66, analysts see room for a move toward $67 and $69. However, a break below $60 could expose the asset to further downside, with the next major support area near $53.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
