John Bollinger Sees Bullish Signal for Solana and Ethereum

Solana (SOL) and Ethereum (ETH) suffered significant losses last week, but top analyst John Bollinger remains remarkably optimistic. According to him, both coins form a crucial technical pattern that could indicate an upward breakthrough. The last time Bollinger saw such a signal, a strong rally followed.

Double bottom hints at recovery for ETH and SOL

The prices of SOL and ETH are showing a so-called ‘double bottom’, according to veteran trader John Bollinger on This often indicates an end to a downward trend and can precede a strong price recovery.

Solana recently found support around the $175 to $180 level, while Ethereum stabilized around $3,800. Analyst InvestorPlatt links ETH to a concrete price target and expects the token to rise to $5,000 within two weeks. That would represent an increase of almost 30 percent.

Many investors are closely following John Bollinger’s current prediction. In September 2022, he made a similar statement about Ethereum, just before the price rose from 1,290 to 4,000 dollars. Popular analyst Satoshi Flipper even calls it a signal that occurs “only once a year,” writing: “Imagine ignoring this signal. I certainly don’t.”

SOL price is lagging behind for the time being

The Solana price could use a new boost. After a strong rebound in October, SOL lost about 18 percent of its value last month. This makes the coin perform weaker than many other major cryptos. By comparison, Bitcoin fell by only 4.3 percent during the same period, while competitor Ethereum recorded a loss of 8.1 percent.

SOL is trading at around $184 at the time of writing. This means the token is still more than 37 percent below its all-time high of $293, which was reached at the beginning of this year.

In addition to the double bottom, however, analyst Kamran Asghar is also optimistic. He sees a symmetrical triangle on Solana’s price chart, from which the token could soon break out. Such a pattern arises when the price makes smaller and smaller movements and often indicates an upcoming major movement.

Asghar expects that Solana may drop back towards the bottom of the triangle again, before a breakout to the top follows. In that scenario, the price could rise towards $210 to $220. That would represent an increase of almost 20 percent from current levels.