The layer-1 protocol, according to a crypto-strategist who correctly predicted the meltdown of Solana (SOL) this year, will be in for a rough ride over the next couple years.
Bluntz, a pseudonymous analyst on social media platform X tells 318.400 of his followers that he thinks SOL is going to spend the next 2 years in bearish territory.
Bluntz, who is a long-term SOL bear, predicts the altcoin to experience counter-trend rallies over the next few months. However he notes that these surges may cause Solana’s price to fall even further.
SOL is now 57% lower than its highs.
I’m not worried about being roasted anymore by the plebs who reply to my posts.
This bear market will last (at MINIMUM), about 70 percent of the time. In the best case scenario, it could drag out until mid-2026, and worst case scenarios, to end 2026.
The move thus far has been an A-wave and there is a good chance that at some stage, a complacent shoulder will be seen. Most will confuse this for a bull market.
Bluntz uses the Elliott Wave Theory in his analysis. This theory states that after a five wave surge, an asset will undergo an ABC correction.
The trader seems to be suggesting that SOL’s A-wave will come to an end once the price drops below $100. The trader also believes that SOL’s A-wave pullback will end once it falls below $100.
Bluntz believes that SOL could launch a five-wave rally in which the price of Solana would rise above $300 by 2028.
SOL’s value is $118.10 at the time of this writing. This represents a drop of nearly 7% in one day.
Bluntz, a financial analyst at the University of California-Berkeley (UCB), says 2025 is going to be an awful year for global reserves. He uses the US Dollar Index DXY as a measure of how the US Dollar compares with a basket of major currencies.
“I think that the murderous behavior of DXY this week will continue throughout 2025.”
According to the chart of the trader, it appears that DXY has entered a C wave correction which could bring the index down below 100 points.
The DXY was trading at 103.84 when this article was written.
Join us on Facebook, Twitter and X.
Sources of Images include Pixabay Creative Commons & Midjourney
The post Crypto Strategist Reveals Three-Year Price Forecast for Solana and Updates Forecasts on US Dollar Index will be updated as new information becomes available.
This site is for entertainment only. Click here to read more
