Solana Leads In Adoption, But ADA's 5% Spike Steals The Show

Solana (CRYPTO: SOL) continues to dominate real blockchain usage, but Cardano's (CRYPTO: ADA) 5% bounce has briefly redirected trader attention away from a chart that still shows structural weakness.

Solana Extends Dominance In Network Activity

SOL continued to outpace rival blockchains in decentralized exchange activity, marking its 16th straight week as the leader in DEX volume, according to Cointelegraph. 

Investor attention intensified after Forward Industries Inc. (NASDAQ:FWDI) released a detailed shareholder update outlining progress in its Solana-focused treasury strategy. 

The company said it now holds more than 6.9 million SOL, describing the position as the world's largest corporate Solana treasury.

FWDI said the accumulation began in September, supported by a $1.65 billion private placement led by Galaxy Digital, Jump Crypto and Multicoin Capital. 

Chairman Kyle Samani said the goal is to "compound SOL-per-share" through validator operations, staking rewards and on-chain participation.

The firm also launched fwdSOL, a liquid staking token designed to increase yield and support DeFi collateralization. 

FWDI's validator operation currently generates between 6.82% and 7.01% gross APY before fees, according to the update.

Solana's Chart Still Struggles With Heavy Resistance

SOL Price Action (Source: TradingView)

SOL's 3% rebound has not changed the underlying trend structure. 

Price rejected the $137–$141 resistance band again, an area reinforced by the 0.382 Fibonacci retracement. 

Each attempt to break this cluster has failed quickly, creating a pattern of short-lived rallies and aggressive selling.

The broader trend remains defined by a falling diagonal from November's highs. 

Price briefly pushed above the line, but the move lacked volume and failed within hours. 

The 0.5 Fibonacci level near $146 sits just above this trendline, adding another layer of supply.

Bollinger Bands show tightening volatility, suggesting a larger move may be approaching. 

A hold above $133 keeps a potential breakout attempt intact, while a drop under that level exposes $128 and possibly $122 if the range floor collapses.

Cardano's 5% Move Signals Relief, Not Recovery

Cardano Price Analysis (Source: TradingView)

ADA outperformed major altcoins today with a 5% rise toward $0.43 after defending the $0.40 support level. 

The bounce halted the steep downtrend that stretched through October and November, but the recovery remains structurally weak.

Price remains below key downward-sloping moving averages, with the 20-day EMA near $0.44 and the 50-day EMA around $0.51 acting as dynamic resistance. 

ADA has repeatedly failed to break these zones, and the broader descending channel still guides price lower.

A major resistance band between $0.47 and $0.54 marks the line separating relief rallies from real trend shifts. 

Without a weekly close above $0.51, the structure continues to favor sellers. 

Losing $0.40 opens the path toward $0.34 and potentially $0.28 if momentum turns sharply lower.

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