Solana Whale Spends $3.6M on 47,535 SOL Tokens After Two-Year Drought
A Solana whale has made another significant purchase of SOL tokens after two years of inactivity. GvHYQQ bought 47,535 SOL for $3.6 million, mirroring its previous accumulation of 291,790 SOL at an average price of $23.37, which later generated over $20 million in realized gains when sold at $128.36.
The recent purchase has sparked interest among traders and analysts, who are now monitoring the price action on Solana's 4-hour chart. The current price is $75.45, which falls within the Bollinger Bands with upper resistance at $76.14 and lower support at $74.85.
Technical indicators also suggest a likely test of the upper band resistance before any potential pullback to the 50-EMA level. The MACD golden cross at 0.03 signals building momentum, while the RSI remains neutral at 48.1.