Solana Price Rises 2% as Forward Industries Unveils $1B Share Buyback Linked to Solana

The Solana price has surged 2% in the last 24 hours, to trade at $1955, on a 23% surge in the daily trading volume, to $5.73 billion.

That price jump comes as Forward Industries approves a $1 billion share repurchase program as part of its strategic shift toward a digital asset treasury model centered on Solana (SOL). The buyback plan, announced Monday, will allow the company to purchase its shares through open-market transactions, block trades, or private deals. The initiative aims to return value to shareholders while offering flexibility during market volatility.

Forward Industries is currently the largest corporate holder of Solana, with over 6.8 million SOL tokens valued at roughly $1.1 billion. The company recently deepened its involvement in the Solana ecosystem by launching a validator node.

Despite these strategic moves, Forward’s stock fell nearly 20% on Tuesday amid broader market weakness affecting crypto-linked equities. Analysts say many companies adopting “crypto treasury” models face valuation pressure, with their enterprise values dropping below the market value of their crypto holdings. Standard Chartered and other firms warn that even Bitcoin-focused treasuries are struggling with declining net asset values, signaling growing risks for companies heavily tied to digital assets.

Forward’s buyback plan appears aimed at stabilizing its stock and reinforcing investor confidence during this volatile period.

Solana Price Eyes Bullish Reversal After Holding Strong Support

Solana (SOL) is showing early signs of a bullish reversal after bouncing from a key support zone near $150. The token trades around $156, up 0.72% in the last 24 hours, as buyers start to regain control following a sharp price drop seen in late October.

The daily chart shows a clear double-bottom pattern around $150, a setup that often signals a potential trend reversal. This level has acted as solid support several times this year, making it an important area for buyers. Earlier in the year, SOL also formed a similar pattern before moving higher, suggesting that history might repeat itself.

SOLUSDT Analysis Source: Tradingview

If the current rebound continues, the next resistance stands between $180 and $200, with a major barrier at $260, marked as “Resistance M” on the chart. A move above $180 would confirm a bullish reversal and open the door for a rally toward the $250–$260 zone. However, if SOL breaks below $150, it could trigger another round of selling pressure.

The Relative Strength Index (RSI) is currently near 30, showing that SOL is oversold. This means selling pressure is weakening and a short-term recovery could follow. The RSI’s slight upward turn also hints that momentum is shifting back to the bulls.

Overall, Solana’s chart suggests that the correction phase might be ending. Holding above the $150 support and pushing past $180 would give buyers a strong signal to target higher levels. On the other hand, failing to stay above $150 could lead to another drop.