The inventor of the Bollinger Bands calls for a pump signal on the W bottom for ETH and SOL, while traders worry about the end of the bull run momentum.

Renowned market technical analyst John Bollinger warns “pay attention”, pointing out that ETH and SOL may form a W bottom indicating a potential pump; however, trader Ansem and researcher Aylo provide a starkly different pessimistic view, believing that market momentum is gradually fading and confidence has been severely damaged, with key focus on the $112,000 critical price level.

John Bollinger rarely follows cryptocurrencies: ETH and SOL should be noted.

John Bollinger, the founder of the Bollinger Bands indicator, recently posted that the price performance of Ethereum (ETH) and Solana (SOL) is showing a potential “W bottom” structure. This is usually a reversal signal, indicating a potential pump.

The chart shows that ETH has dropped to $3,700 twice this month and is gradually recovering, while SOL has formed a double bottom at $175 , and BTC has not yet shown the same pattern.

Looking back at Bollinger's previous reminders, including July 31 last year and April 10 this year, it can almost be said that they accurately hit the cycle low points of BTC ($55,000 and $75,000).

Ansem admits that the bull market is over, pointing out the key price level of $112,000.

Another trader, Ansem, holds the opposite view. He pointed out that the weekly charts of XRP, SOL, and ETH all show a “Swing Failure Pattern (SFP, Swing Failure Pattern),” which is similar to the peak seen in LTC in 2021.

He believes that this is a signal that the ten-month distribution period is about to end, with a lack of new narratives and exhausted momentum:

BTC fell below the historical high of 2024 and lost the 200-day moving average.

MicroStrategy ( Strategy ) The stock price has continued to weaken since peaking in November 2024.

The ETH/BTC ratio has risen, which usually occurs at the end of a bull market.

Ansem said: “The only way I'll change my mind is if we can get back above 112k.”

( Binance ignites market makers? Wintermute suffers huge losses, liquidity is in crisis, and the market fears facing a “liquidity winter” )

Aylo: The Binance incident has exposed the fragility of the market, and the collapse of confidence is still fermenting.

Researcher Aylo approaches from a macro and psychological perspective, believing that currently “the bears are gaining the upper hand.” He pointed out that the historical surge in gold prices often accompanies the outbreak of crises, and recent events with Binance have further undermined the confidence of the entire market.

(Analyzing the reasons for the surge in gold prices while Bitcoin is falling: Can BTC take over the upward trend? )

The altcoin plummeted 75% within 5 minutes during the event, breaking the market's imagination that “the cryptocurrency market has matured,” exposing the vulnerability of cryptocurrencies in price discovery and settlement mechanisms.

He emphasized that the BTC daily trend has formed a typical downtrend, with the 50-week EMA price approximately at 101,000 USD, which can be said to be the last line of defense for the bulls.

The oscillation around that level will cause everyone to suffer more than they have already endured, this is the last struggle of the bulls.

The market is in a tug-of-war between bulls and bears, with increased volatility.

Since the Binance flash crash event on October 11, there have been both bullish and bearish voices in the market. At this time, Bollinger's statements stand in stark contrast to the views of the latter two crypto-native users. Regardless of whether there is a pump or not, it is clear that volatility will be significantly amplified in the short term, and investors must remain cautious.

This article states that the inventor of the Bollinger Bands calls for pump signals on ETH and SOL forming a W bottom, while traders are concerned about the end of bull market momentum, first appearing in Chain News ABMedia.