Solana Trader Returns with $9.74 Million Purchase, Targets $120 Breakout

Solana's price has been on the rise after a notable trader made a significant purchase of $9.74 million worth of SOL tokens, sparking renewed attention to the token's rebound.

The trader, who had previously generated around $4.95 million in profit from two SOL swing trades over the past three years, returned after roughly two years of inactivity and bought 95,928 SOL at a price of approximately $101.72 per token.

This move has put Solana near the upper end of its daily range, with some traders targeting a potential breakout above $120, but others warning that momentum is stretched and a retest of support could be imminent.

The combination of large-wallet accumulation and improving price structure has turned the $100-$120 region into the market's next important battleground.