John Bollinger Identifies Potential ‘W’ Bottoms in Ethereum and Solana
- John Bollinger noted possible “W” bottoms in Ethereum (ETH) and Solana (SOL) charts, indicating potential bullish reversals.
- Bollinger stated that Bitcoin (BTC) has not displayed a similar setup, highlighting a divergence between BTC and altcoins.
- ETH price rose by 1.52% to approximately $3,891, while SOL increased by 2.15% to nearly $186 in the last day.
- The ETH/BTC pair climbed by over 7% in the past week, suggesting capital rotation from Bitcoin into Ethereum.
- BlackRock recently reduced its Bitcoin holdings while increasing exposure to Ethereum amid market shifts.
Bollinger’s observation of the W bottom patterns suggests a shift in market sentiment as selling momentum decreases for ETH and SOL, potentially signaling a broader recovery phase for altcoins.
With ETH gaining strength against BTC and recent positive price movements, it may indicate an upcoming alt season where altcoins outperform Bitcoin significantly. (Source)
