Prominent technical analyst John Bollinger has observed significant patterns in the charts of Ethereum and Solana, hinting at a potential price surge. His analysis focuses on the formation of W bottoms within Bollinger Bands, a volatility indicator he developed, which could signal bullish trends for these cryptocurrencies. The material points to an encouraging trend: this technical setup has historically preceded notable price increases.
Insights from Bollinger
Bollinger's insights reveal that both Ethereum (ETH) and Solana (SOL) are exhibiting signs of double bottoms, a pattern that typically precedes upward price movements. In contrast, Bitcoin (BTC) has not yet shown this pattern, as it continues to establish its base.
Ethereum's Performance
Specifically, Ethereum has experienced a drop to $3,700 on two occasions this month, but it seems to be on the path to recovery.
Solana's Behavior
Similarly, Solana has mirrored this behavior, dipping to $175 in October before showing signs of a minor rebound. The presence of W bottoms in the charts of ETH and SOL could indicate a bullish reversal, making them assets to watch closely in the coming days.
In contrast to the bullish signals observed in Ethereum and Solana, recent trends among long-term Bitcoin holders indicate a significant increase in exchange inflows, raising concerns about market volatility. For more details, see Bitcoin inflows.
