Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. A rare signal from a legendary market analyst has caught traders’ attention as the Ethereum and Solana pricebegins to show potential reversal signs. With the broader crypto market still in a slump, a subtle alert from the inventor of one of the most respected technical indicators has analysts wondering whether a major shift is about to unfold in ETH and SOL. Bollinger Inventor Signals Ethereum And Solana Price Explosion
John Bollinger, technical analyst and inventor of the world-famous Bollinger Bands indicator, has shocked the broader crypto community after identifying potential “W” bottomsforming on the Ethereum and Solana charts. In his market commentary on X social media, Bollinger notedthat while Bitcoin has yet to exhibit similar signals, the ETHUSD and SOLUSD pairs are shaping up in a way that demands attention. Related Reading Ethereum and Solana Price Ready To Send Hard? Legendary Analyst Says It’s Time To Pay Attention 1 hour ago
Notably, Bollinger’s cautious but bullish statement immediately drew attention from fellow market analysts. Satoshi Flipper, a well-known crypto expert, revealedthat Bollinger typically makes only one such market call each year and has not issued one for Ethereum in three years. He disclosedthat the last time the Bollinger Bands inventor made a similar statement was in September 2022, just before the ETH price surged from around $1,290 to nearly $4,000.
Due to Bollinger’s selective and historically accurate calls, analysts see it as an early sign of a potential reversal of a downtrendor consolidation into an explosive breakout. If the inventors’ analysis proves accurate once again, both Ethereum and Solana could be sitting at the foundation of one of their strongest bull rallies Analysts Predict Bullish Targets For ETH And SOL
Two separate technical analyses also highlight an optimistic outlook for the Ethereum and Solana prices. Crypto analyst Lark Davis highlightedthat Solana’s chart structure appears “very constructive,” with the Relative Strength Index (RSI)approaching a momentum breakout and the Moving Average Convergence Divergence (MACD) gearing up for a bullish cross. Related Reading Solana Price At Risk Of 50% Crash To $104 After Forming This Larger Bearish Trend 3 days ago
Davis noted that Solana’s price action is forming a clear Double Bottom, a classic reversal pattern. Should the neckline break, he projects a potential price target near $250, provided bulls can defend the 200-day EMA. With Solana trading around $192, a rally to that target would mark roughly a 30% gain. Source: Chart from Lark Davis on X
Ethereum’s technical outlook is even more dramatic. Analyst Merlijn the Trader statedon X that ETH has been developing the most explosive setup since the 2017 bull cycle, pointing to a textbook Bullish Pennant patternon the monthly chart. Historically, such formations precede massive continuation once the price breaks above the upper boundary of the pattern.
Merlijn’s chart analysis projects an eventual breakout target around $8,500, suggesting that Ethereum could set a new all-time high soon. Considering that the ETH price is sitting above $4,000, a surge to this bullish target would more than double its value, marking an impressive 110% increase. ETH trading at $4,047 on the 1D chart | Source: ETHUSDT on Tradingview.com Featured image from Getty Images, chart from Tradingview.com