Bollinger Identifies Potential W Bottoms for Ethereum and Solana

John Bollinger, known for creating Bollinger Bands, suggests potential "W" bottoms for Ethereum and Solana, but not for Bitcoin. This pattern indicates a possible price reversal.

Bollinger Bands signal a "W" bottom when the second low is above the first, with specific volatility patterns.
Confirmation requires price interaction with the middle and upper bands, rather than just the shape of price lows.
Bollinger's crypto calls are rare, adding weight to his current observations on ETH and SOL.
In April, Bollinger noted a similar setup in BTC, which led to significant gains.
ETH and SOL showing W-like structures suggest a potential decoupling from BTC's volatility and strength.
Confirmation for ETH and SOL would involve sustained closes above the 20-period moving average, with gradual advances.
Failure would occur if lower-band interactions continue without reclaiming the middle band.

At the time of writing, Ethereum was trading at $4,037.