bullish

Solana

Bitcoin ETF

BlackRock

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In a recent social media post, legendary trader John Bollinger <a href="https://x.com/bbands/status/1824466873192443989" rel="noopener noreferrer nofollow">said</a> that he had spotted a "nice pattern" for Solana, one of the top alternative cryptocurrencies by market capitalization.&nbsp;
"It needs to hold above the lower Bollinger Band and turn up for confirmation. …Then you'll have a nice risk/reward trade. Stop under the second swing low," Bollinger said in his social media post.&nbsp;
At press time, Solana (SOL) is the biggest laggard in the top 10, according to data provided by&nbsp;<a href="https://www.coingecko.com/" rel="noopener noreferrer nofollow">CoinGecko</a>. At press time, it is changing hands at $138.69 after dipping 2.5% over the past 24 hours.&nbsp;
Bollinger is not the only trader who is seemingly bullish on Solana. Mister Crypto, a popular cryptocurrency trader, echoed a similar sentiment in a recent social media&nbsp;<a href="https://x.com/misterrcrypto/status/1824506912773382552" rel="noopener noreferrer nofollow">post</a>.&nbsp;
<h2 id="the-next-bullish-catalyst">The next bullish catalyst?&nbsp;</h2>
Earlier this year, Solana became the talk of the crypto town once again due to the surging popularity of celebrity meme coins.&nbsp;
As&nbsp;<a href="https://u.today/solanas-meme-coin-factory-deteriorating-with-cratering-volumes" rel="noopener noreferrer nofollow">reported by U.Today</a>, the number of tokens created with the help of Solana-based meme coin factory Pump.fun recently surpassed the 1.7 million mark.&nbsp;
However, the meme coin mania that fueled Solana's growing popularity has waned. Solana has seen a substantial drop in network demand as well as trading activity.&nbsp;
Hence, the meme cryptocurrency might struggle to find its next bullish catalyst.&nbsp;
Even though VanEck and 21Shares recently filed Bitcoin ETF proposals, such a product is unlikely to be launched anytime soon. Moreover, BlackRock has already rejected the possibility of proposing a Solana ETF.&nbsp;

Legendary Trader John Bollinger Spots "Nice" Solana (SOL) Pattern

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