Legendary trader John Bollinger has spotted a significant opportunity for Solana bulls
"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. Bollinger is not the only trader who is seemingly bullish on Solana.
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. 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.
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