- Forward Industries added 254,000 SOL at an average price near $75.
- Spot demand has weakened, leaving $80 as a key level for buyers.
- Crypto Patel identifies $60 to $40 as a long-term accumulation zone.
The Solana price is approaching a key technical area as traders track weaker spot demand and renewed institutional buying. Analyst Ted said declining spot demand means buyers need to regain control around $80. Meanwhile, Forward Industries has resumed SOL purchases, adding another 254,000 tokens between July and August 3.
Solana Price Needs Fresh Spot Demand to Clear the $80 Level
Ted said SOL spot demand is falling, which puts more pressure on buyers near current resistance. A stronger bid could help the Solana price move above $80 and establish firmer short-term momentum.
Without stronger demand, the market could struggle to sustain moves toward that level. This makes the balance between fresh buying and available supply important for the next SOL price move.
Crypto Patel is watching a much deeper area if selling pressure returns. The analyst identified the $60 to $40 range as a Solana accumulation zone for longer-term positioning.
From that range, Patel outlined possible long-term targets at $250, $500 and $1,000. Those levels represent analyst projections rather than confirmed price objectives. The Solana price would first need to hold support and reclaim nearby resistance levels.
Solana Price Gets Support From Forward Industries SOL Buying
Forward Industries has returned to the market after adding 254,000 SOL between July and August 3. SolanaFloor reported an average purchase price of roughly $75 for the latest acquisition.
The transaction lifted the company’s total holdings above 7.8 million SOL. Forward Industries currently ranks as the largest Solana treasury by token holdings, according to SolanaFloor.
The purchase places institutional accumulation near the same area traders are watching for support. Still, weaker spot activity creates a different short-term signal for the Solana price.
A sustained move above $80 would require buyers to absorb available supply. Meanwhile, a deeper pullback would bring the $60 to $40 accumulation area identified by Crypto Patel back into focus for the Solana price.
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.
