The Solana crypto is riding an ascending trendline on the daily chart, mesmerizing traders while it continues to attract institutional attention. Just recently, the SOL price reacted strongly to the latest announcement from Forward Industries Inc.
The company disclosed a $1.65 billion private placement in cash and stablecoins dedicated to building a Solana-based treasury strategy, a jaw-dropping, bold move for Solana. This move not only lifted sentiment but also positioned Solana as one of the highlights of today.
SOL Price Extends Gains on Fresh Institutional Backing
The news immediately pushed the SOL price USD from $206 to $215 on the daily chart, with technical support found at the dynamic 20-day EMA band.
The Solana price chart also shows the asset climbing along an ascending trendline that has helped keep the momentum intact in Q3’s price action, signaling bullish momentum. Now, a confirmed breakout above $210 has raised expectations for a run toward $240 in September.
With growing market interest, the SOL price prediction for the near term remains optimistic.
In a separate analysis on the broader weekly Solana price chart, the asset has spent nearly two years consolidating. Analysts highlight that the consolidation base rests on a long-term arch support, providing structural stability.
If the breakout accelerates, the SOL price forecast includes targets that extend beyond the all-time high, opening the door toward $600 in price discovery.
Such a move would place Solana among the strongest large-cap performers in the current cycle.
Fundamentals Add Fuel to the Rally In Solana Crypto
The bullish narrative is further supported by Solana crypto’s growing ecosystem strength.
On September 7, token terminal data confirmed that Robinhood-backed USDG stablecoin expanded its presence on Solana, with supply growing by 160% in just one month. Remarkably, USDG on Solana has now surpassed its footprint on Ethereum.
This rapid adoption highlights the network’s scalability advantages, providing an additional boost to the SOL price forecast narrative. With both institutional and fundamental drivers converging, the outlook for Solana crypto appears stronger than ever.
