An experienced trader and DeFi Dev Corp. institution purchased approximately $23 million worth of SOL tokens, signaling an active accumulation phase. The whale in question opened a 5x long position on 164,642 SOL worth $19.78 million, while DeFi Dev Corp. raised its holdings to 2.564 million SOL. Technically, Solana is trading around $120 in a triangle pattern approaching its apex, with a bullish target of $150 in case of a breakout and support at $95 in case of a correction. The cryptocurrency has doubled in value over four months, rising from around $60 in June to its current level.
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