A crypto strategist who accurately timed Solana’s (SOL) meltdown this year thinks the next few years will not be kind to the popular layer-1 protocol.
Pseudonymous analyst Bluntz tells his 318,400 followers on the social media platform X that he believes SOL will spend the next two years in deep bear territory.
[adinserter block="1"]While Bluntz is long-term bearish on SOL, he predicts that the altcoin will witness counter-trend rallies in the coming months but notes that the surges will likely set up Solana for an even deeper drawdown.
“SOL now down 57% from the highs.
Now that it’s cool to hate it again, I can share my thoughts without having to worry about getting roasted by pleb reply guys.
The rise/bull market lasted 762 days, the bear, (AT MINIMUM) will likely last about 70% or so in time. Best case, this drags out to mid-2026 and in the worst case, end of 2026.
This move so far is likely an A wave and at some point there will probably be a very slow drawn-out complacency shoulder up that most will mistake for a new bull market.”
Bluntz utilizes the Elliott Wave theory in his analysis, which states that an asset will go through an ABC correction after completing a five-wave surge.
Looking at the trader’s chart, he seems to suggest that SOL will end its A-wave pullback once it goes below $100. He also predicts that SOL will kick off a counter-trend B-wave rally en route to $200 by early 2026 before crashing to around $80 in 2027 for the C-wave correction.
At that point, Bluntz predicts that SOL will launch a new five-wave rally that could see Solana trading above $300 in 2028.
At time of writing, SOL is worth $118.10, down nearly 7% on the day.
Turning the US Dollar Index (DXY), a benchmark of the value of the US dollar compared to a basket of six major currencies, Bluntz says that 2025 will be a horrible year for the dominant global reserve asset.
“DXY getting absolutely murdered this week probably continues throughout the whole of 2025 in my opinion.”
Based on the trader’s chart, he appears to suggest that the DXY is now in the midst of a C-wave correction that could take the index below 100 points.
At time of writing, the DXY is trading at 103.84 points.
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