Solana Price Falls as Forward Moves 455K SOL to Coinbase Prime

TLDR

• Forward Industries transferred 455,784 SOL worth about $31.87 million to Coinbase Prime.
• The company holds 6.83 million SOL purchased at an average price of $232.08.
• Current valuations place Forward’s unrealized loss near $1.13 billion.
• Forward reported a $283.1 million quarterly net loss from fair value declines.
• Solana price traded near $66 to $70 support after a 19% weekly decline.

Solana traded near $68.82 after Forward Industries transferred 455,784 SOL to Coinbase Prime. The tokens carried an estimated value of $31.87 million at the time of movement. The deposit surfaced as the company’s unrealized losses approached $1.13 billion based on current market levels.

Forward Industries Transfers SOL to Coinbase Prime

On-chain records showed Forward Industries deposited 455,784 SOL after about one month of wallet inactivity. The transaction directed the funds to Coinbase Prime custody infrastructure. The move occurred while SOL traded below the firm’s average purchase price.

Forward Industries began its Solana treasury strategy in September 2025. Since then, it has acquired 6.83 million SOL at an average price of $232.08. The company spent about $1.59 billion building that position.

At present prices, the holdings stand near $458.6 million in value. Therefore, the unrealized loss totals nearly $1.13 billion. The company has not confirmed any sale related to the latest transfer.

Exchange deposits often precede selling or collateral movements. However, they may also reflect custody adjustments or internal treasury restructuring. In November, Forward transferred 1.88 million SOL to Coinbase Prime.

Later disclosures showed that its SOL holdings remained unchanged. SolanaFloor stated that the earlier movement did not reduce the treasury balance. That history fueled debate over whether the recent deposit signals liquidation.

Forward Industries reported a $283.1 million net loss for the quarter ended March 31, 2026. The company attributed the loss to fair value declines in its SOL holdings. It said the loss did not involve cash outflow or liquidity pressure.

Solana Price Holds $66 Support While Resistance Remains Overhead

The Solana price recently traded near $66 after a weekly decline of nearly 19%. The token remained within a $66 to $70 support band on the weekly chart. This area aligns with the latest low wick and horizontal support.

SOL trades below major weekly moving averages. The long-term moving average sits between $105 and $110. Other higher moving averages cluster between $135 and $150.

A weekly close below $66 could open a path toward $53. Further downside levels appear near $43 and $35 if selling persists. The volume profile shows lighter trading between current levels and lower zones.

On the upside, SOL must reclaim $85 to $90 to show early recovery strength. A move above $105 to $112 would challenge the long-term moving average. The next resistance area stands between $135 and $150.

The relative strength index remains near the lower range. This reading reflects bearish momentum on the weekly timeframe. Market data continues to track price action near the $66 support level.

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