Zony Crypto

Solana (SOL),Solana (SOL) Breaks Out: Descending Trendline Cracked – Is the Bullish Reversal Underway?** one of the leading layer-1 blockchains known for its high-speed transactions and vibrant ecosystem, has been navigating a challenging downtrend throughout much of early 2026. After peaking near all-time highs above $290 in previous cycles, SOL has faced significant pressure, dropping sharply and trading in the low $80s as of mid-February 2026. However, a key technical development is emerging that could signal a shift in momentum: SOL has just cracked its descending trendline.

This descending trendline – a diagonal resistance level connecting lower highs since the broader correction began – has acted as a ceiling for multiple rally attempts in recent months. Traders have watched price repeatedly reject this line, reinforcing bearish control amid broader market caution, declining on-chain activity in some metrics, and altcoin underperformance relative to Bitcoin.

The recent breakout, described by analysts as a "clean crack," represents a decisive move above this longstanding barrier. On charts shared across trading communities, including real-time updates from February 20, 2026, SOL pushed through the trendline with apparent conviction. A clean hold above the breakout level is now critical – if price sustains above it without quickly falling back, it could invalidate the prior bearish structure and open the door for the next leg higher.

### Current Market Snapshot
As of February 20, 2026, SOL trades around **$83-84 USD**, showing modest gains in the last 24 hours (approximately 3% up) amid a volatile crypto market. The token has rebounded slightly from recent lows near $80, but remains well below key moving averages like the 50-day EMA (around $106) and 100-day EMA (higher still), underscoring that the broader trend is still corrective. Weekly performance shows some recovery, but monthly and yearly figures reflect substantial declines from peaks.

Volume has picked up on the upside move, a positive sign for bulls hoping this isn't just a fakeout. Support levels to watch include the recent lows around $80 and psychological $75-78 zones – a break below could quickly reverse gains and target deeper corrections.

### Why This Breakout Matters
Descending trendlines often mark periods of distribution or seller dominance. Breaking them can trigger:
- **Short covering** from traders positioned bearishly.
- **New buyer interest** as the technical picture improves.
- **Measured moves** higher, potentially targeting prior resistance zones or Fibonacci extensions from the downtrend.

If SOL holds the breakout convincingly (ideally with a daily close above the former trendline), targets could emerge toward $90-100 in the near term – reclaiming the $90 area would be a major psychological win and align with some analyst projections for a push to $110+ on stronger momentum. Longer-term bulls eye a return to $120-140 zones if ecosystem fundamentals (like DeFi activity, meme coin momentum, or network upgrades) support the price action.

However, caution remains warranted. Recent analyses highlight bearish patterns like bear flags, descending channels, and rejections at key EMAs. A failure to hold the breakout could see price retest lower supports rapidly, especially if broader crypto sentiment sours.

Fundamentals Backdrop
Solana's ecosystem continues to generate buzz with high transaction throughput and active developments, but 2026 has seen challenges including reduced DEX volumes in periods and competition from other chains. Any sustained price recovery would likely need renewed inflows, positive on-chain metrics, or macro tailwinds in crypto.

### Outlook
The crack of the descending trendline is an encouraging technical signal for SOL holders and traders eyeing a reversal. A clean hold above this level could indeed fuel the next push higher, potentially shifting sentiment from bearish to cautiously optimistic.

As always in crypto, confirmation is key – watch for sustained closes above the breakout, increasing volume, and no immediate rejection. Until then, this remains a high-conviction setup with defined risk levels.

Whether this marks the start of Solana's next major leg up or a temporary relief rally, the coming days will be telling. Stay tuned to charts and on-chain data for the next clues.

(boundary of its recent multi-month **range low**. This zone has historically acted as a springboard for notable rebounds, catching the attention of traders and sparking discussions about whether another bounce is imminent.

As of mid-February 2026, ETH is trading around **$1,970–$1,980**, after fluctuating in a compressed range roughly between **$1,800** (or slightly below in recent dips) and **$2,000–$2,400** resistance. The price has been under pressure, down significantly month-to-date (around -38% in some reports) and reflecting broader market weakness, with failed rebound attempts near $2,000–$2,120 in recent weeks.

Historical Context: The Weekly Range Low as a Proven Support
On the weekly timeframe, ETH has been consolidating within a defined range following earlier highs in the cycle. The lower end—often aligned near **$1,800–$1,900** or the recent cycle lows around **$1,750–$1,850**—has repeatedly served as a demand zone where buyers stepped in aggressively.

- Previous instances saw sharp recoveries when price tagged this area, driven by oversold conditions (e.g., weekly RSI dipping toward or into oversold territory near 30).
- This level aligns with key Fibonacci retracements from prior swings, structural supports from past consolidation, and areas where liquidations and stop hunts have occurred, often flushing weak hands before reversals.

The current revisit echoes those prior touches: after a fast selloff that broke temporary supports (like the former $2,300–$2,360 zone), ETH has gravitated back to this lower boundary, testing buyer conviction once more.

Current Market Dynamics
Several factors are at play:

- **Bearish Pressure Persists**: ETH remains in a broader downtrend on daily and weekly charts, with lower highs and repeated rejections at overhead resistance (e.g., descending trendlines and $2,000 psychological + Fibonacci levels). Recent rebound attempts have weakened progressively—23% surge early February faded, followed by 11% and 7% moves that stalled lower.
- **Compression and Indecision**: Price action shows tightening patterns (e.g., triangles or narrow ranges on lower timeframes), with ETH oscillating just below $2,000 for weeks. This suggests building energy for a breakout—either bullish above resistance toward $2,300–$2,500 or bearish breakdown toward deeper supports like $1,600–$1,800 or even macro levels around $1,400–$1,500.
- **On-Chain and Sentiment Signals**: Loss saturation (via metrics like SOPR) hints at capitulation, but weak new address growth and limited inflows cap upside. Options positioning and leverage dynamics add caution, with bears eyeing lower strikes.

### What Could Happen Next?
Traders are watching closely:

- **Bullish Scenario** 👀: A strong close above the range low with volume could confirm support, sparking a rebound similar to past instances—potentially targeting $2,200–$2,500 initially if momentum builds.
- **Bearish Risk**: Failure to hold (e.g., decisive break below $1,800–$1,850) opens the door to further downside, with next targets at prior lows or psychological $1,500–$1,700 zones.
- **Most Likely Near-Term**: Continued chop/range-bound action until a catalyst (macro shifts, network upgrades, or broader crypto sentiment turn) forces resolution.

This level isn't just a line on a chart—it's where conviction gets tested. With ETH back at the weekly range low where previous rebounds ignited, the market is at a pivotal moment. Watch volume, weekly close, and whether buyers defend aggressively. History suggests potential here, but in crypto, nothing is guaranteed—risk management remains key.

In the volatile world of cryptocurrency markets, prediction platforms like **Polymarket** have become a real-time barometer of trader sentiment. A recent update circulating on social media highlights that Polymarket odds now reflect a **31% probability** that **Bitcoin (BTC)** will slide to **$55,000** or lower before the end of February 2026. This figure has captured attention amid ongoing price turbulence in early February.

Current Market Context

As of February 7, 2026, Bitcoin is trading in the **$70,000–$71,000** range after a volatile period. Recent sessions saw BTC dip as low as the low $60,000s before staging a partial recovery. The cryptocurrency remains well above the $55,000 threshold mentioned in the market, but the distance isn't as comfortable as it was just weeks ago.

Polymarket's February-specific markets under the "What price will Bitcoin hit in February?" category track whether BTC will reach various price points before March 1, 2026 (based on Binance BTC/USDT 1-minute candle highs/lows). While the exact "dip to $55,000 in February" contract has shown probabilities fluctuating in the **17–22%** range in recent data snapshots (with trading volume exceeding $1.7 million on some related bins), broader sentiment and secondary reporting have pointed to around **31%** for a near-term slide to that level before month-end.

This 31% figure likely aggregates trader positioning across short-dated downside bets or reflects a momentary spike in bearish conviction.

Why Traders Are Betting on Further Downside

Several factors appear to be fueling this bearish tilt on prediction markets:

- **Recent Correction Momentum** — Bitcoin has experienced a meaningful pullback from higher levels earlier in the cycle, erasing portions of previous gains and shaking out weaker hands.
- **Broader 2026 Outlook** — Longer-dated Polymarket contracts for the full year show significantly higher probabilities for lower levels, with some reports indicating **70%+** odds of BTC touching below $65,000 at some point in 2026, and downside bets toward $55,000 and even $50,000 carrying substantial volume.
- **Macro and Sentiment Shifts** — After an euphoric run in late 2025, narratives around institutional adoption, ETF flows, and macroeconomic support have cooled. Prediction traders often lead or amplify shifts in retail and institutional psychology.

Despite the bearish short-term bets, it's worth noting that probabilities remain below 50% — meaning the majority of capital on Polymarket still prices in a scenario where Bitcoin avoids $55,000 this month.

### What This Means for Bitcoin in the Short Term

Prediction markets like Polymarket are not crystal balls, but they do aggregate real money bets from informed participants. A **31%** implied probability suggests meaningful downside risk is on the table, yet it also indicates that most traders still see the $55,000 level as an **outlier** rather than the base case for February.

Key levels to watch in the coming days and weeks:

- **Support zones** around $65,000–$68,000 — a break here could accelerate bearish momentum.
- **Resistance** near $72,000–$75,000 — a convincing reclaim would likely crush short-term downside bets.
- **Volatility** — February has already proven choppy, and remaining weeks could see sharp swings in either direction.

### Final Thoughts

The 31% Polymarket odds serve as a warning shot: while Bitcoin has rebounded somewhat in early February, the path of least resistance isn't clearly upward. Traders are increasingly willing to put capital behind the idea of one more meaningful leg lower before the month closes.

Whether this turns into a self-fulfilling prophecy or simply noise in a broader consolidation phase remains to be seen. As always in crypto, real-time price action — not just prediction odds — will have the final say.

Stay tuned to on-chain data, ETF flows, and broader macro developments for the next clues in Bitcoin's February story.