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SOL Solana (SOL) breaks through US$100: The $9.74 million purchase of the giant whale attracts attention
Solana (SOL) briefly broke through the US$100 barrier. A high-profile trader who had been silent for nearly two years executed a large purchase worth US$9.74 million, reigniting market interest. As this digital asset tests key resistance levels, on-chain data and technical signals have jointly focused the focus on the price range of $100 to $120.
Large-scale fundraising after price rebound
On-chain analysis firm Lookonchain found that a trader who had not moved SOL in nearly two years made a large-scale purchase. The trader purchased 95,928 SOLs worth approximately $9.74 million, just as Solana broke the important $100 threshold.
Lookonchain further reported that the address had only completed two recorded SOL band transactions in the past three years, with a cumulative profit of approximately US$4.95 million. This large-scale increase in holdings is interpreted as a possible positive shift in sentiment among large holders, but there is no guarantee that prices will inevitably rise in the future.
In recent gains, SOL prices have hovered around $101.72, rising by 5% in 24 hours, close to the upper edge of its daytime range of $95.23 to $102.29.
Market analysts pointed out: "The re-entry of a historically profitable SOL buyer, coupled with the token's resilience above the psychological threshold of $100, has made Solana the focus of investors 'attention." Maintaining momentum above $100 may prompt more large wallets to increase their holdings, while falling back below this level may signal continued volatility or consolidation.
US$120 resistance is in focus, traders assess support areas
Technical analysts are currently tracking the SOL/USDT trading pair as it tests an important resistance band that stretches from around $97 to $104. BATMAN, a user on Trading View, said that if the current level can be held, there is a possibility of further upside, and the target range may be between $118 and $122.
Solana's rapid climb from the middle of $70 has prompted traders to assess whether the breakthrough will be sustainable or whether it is about to pull back to support. According to the latest chart, SOL traded around $96.65 during the resistance test.
One of the key indicators, the Relative Strength Index (RSI), is currently around 78.6. Values above 70 are usually considered overbought, implying a possible pause or correction, but a high RSI itself does not guarantee a trend reversal.
Analysts pointed to the US$82 to US$85 range as the main support level in any correction. This area has previously served as a resistance level and could become new support if buyers intervene. If the current resistance band is decisively exceeded,$120 will become the focus, and if large holders remain active, the bullish trend will be strengthened. On the contrary, if it continues to fall below the US$82 to US$85 region, the technical side will weaken.
Solana, a public blockchain network designed for scalability and speed, has become a popular platform for decentralized applications and tokens. Its price activity is often closely watched by institutional and retail investors.
Classification and significance of price levels:
US$100 : Psychological support level, key psychological threshold, buying activity is reactivated.
US$82 -85 : Technical support level, which was previously resistance level, is now turning into support.
US$118 -122 : Resistance level, if the breakthrough continues, it is the next upside target.
