Solana Price Dips Ahead of Federal Reserve Rate Decision
Solana (SOL) price is falling toward the $230 support level. Investors await the US Federal Reserve’s interest rate decision on Wednesday. A 25-basis-point rate cut could boost Solana’s price. This may push SOL toward the $250 resistance and its January 19 high of $296. Lower interest rates often encourage investment in cryptocurrencies and stocks.
Forward Industries Files $4 Billion Equity Offering to Support Solana Treasury
Forward Industries (NASDAQ: FORD) has filed an at-the-market (ATM) equity offering with the US Securities and Exchange Commission (SEC). The offering could raise up to $4 billion. The funds will support corporate needs and Forward’s Solana treasury strategy.
Kyle Samani, Chairman of Forward Industries’ Board, said the ATM program offers a “flexible and efficient mechanism” to raise and use capital for the Solana treasury.
This filing follows Forward Industries’ recent $1.65 billion digital asset raise, the largest focused on Solana. The company has already bought 6.8 million SOL tokens. Samani expects the ATM program to help expand this position.
Forward Industries is a global design company serving medical and technology sectors. Its Solana treasury aims to strengthen financial stability and growth.
About ten public companies hold active Solana treasuries. These include Forward Industries, DeFi Development Corp, Upexi Inc., Sharps Technology, Sol Strategies, and Exodus Movement. Pantera Capital CEO Dan Morehead revealed the firm has $1.1 billion exposure to Solana.
Technical Outlook: Solana Eyes 27% Price Gain
Solana stays above the $230 support as bulls target a rise above $250. The token trades well above key moving averages:
- 50-day EMA at $203
- 100-day EMA at $188
- 200-day EMA at $177
These averages may act as support if the price falls. A favorable macro environment, including a Fed rate cut, could push Solana toward its record high of $296.
However, the Relative Strength Index (RSI) has dropped from overbought levels to 62. This shows weakening bullish momentum. If the RSI falls further, SOL could drop below $230 and test the 50-day EMA at $203.
