The post Solana stabilizes after $10.26M SOL whale buy: Will recovery follow? appeared on BitcoinEthereumNews.com.

A whale invested $10.26 million to accumulate 121,368 Solana [SOL] at an average price of $84.57, signaling renewed large‑scale conviction in Solana’s current market structure. Notably, the wallet executed multiple USDC-to-SOL swaps within a short time frame, which suggests deliberate scaling rather than impulsive buying.  This structured execution reduces slippage and highlights calculated positioning. While broader market sentiment remains cautious, this capital deployment reflects strategic intent.  Large participants typically accumulate during uncertainty rather than chase rallies, which makes the timing significant.  As a result, this transaction raises an important consideration about whether institutional-sized players now view the current zone as a favorable accumulation range for Solana. SOL remains confined within a descending channel Solana continues trading inside a long-term descending channel on the daily chart, maintaining a structure defined by consistent lower highs.  Price, at press time, hovered around $84.00, just above the $78.50 macro support level that previously attracted demand. This zone represents a critical inflection point within the broader downtrend.  However, the upper boundary of the channel continues to cap recovery attempts. Immediate resistance stands near $120, while a stronger supply barrier rests around $146.72.  Bulls must reclaim these levels to alter the prevailing structure. Until that occurs, the broader trend remains technically bearish despite localized stabilization near support. Source: TradingView The daily MACD indicator showed early bullish convergence as selling pressure began to fade, as the MACD line was at 1.50. This upward shift reflects diminishing downside momentum after an extended decline. Additionally, green histogram bars have started forming, which often precedes short-term stabilization phases.  However, the indicator still trades below the zero line, which limits full confirmation of a trend reversal.  Sustained expansion above neutral territory would strengthen the bullish case. For now, momentum shows improvement, yet structural confirmation remains incomplete. Buyer dominance strengthens through Spot Taker…

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Filed under: News - @ February 21, 2026 12:08 pm