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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.
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.”
Source: Bluntz/X
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.”
Source: Bluntz/X
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.
