Technical analyst John Bollinger has detected potential W bottom patterns in the charts of Ether and Solana, hinting at a significant price movement. As these patterns suggest bullish trends, he noted that Bitcoin has yet to show similar signals on its chart. Bollinger remarked:

“Gonna be time to pay attention soon, I think.”

At present, ETH has dropped to approximately $3,700 twice this month but appears to be on the path of recovery. Solana’s price reflected a similar trend, falling to $175 before showing slight signs of rebound.

On the Bitcoin front, after a sharp drop below $104,000 last Friday, it has recently stabilized at the lower end of a price range that was established earlier this year. This has not deterred analysts from maintaining a bullish outlook. Analyst Satoshi Flipper highlighted that the previous advice from Bollinger led to substantial gains for Bitcoin, which surged from below $55,000 to beyond $100,000 in a mere six months.

Bollinger Bands, the volatility indicator he developed, has indicated significant levels of compression recently, which has increased volatility after months of quiet trading. Further analysis from Sykodelic pointed out that despite recent fluctuations, the market remains in a bullish trend supported by the 50-week SMA indicator.

“Every single time the price has come down to tag the 1W 50SMA, there has been mass fear in the market, with the majority panic selling… And every time it has rebounded with strength and pushed much higher.”

As the markets continue to evolve, the crypto community is encouraged to keep a close watch on these indicators and price movements as they unfold.