The future doesn’t look bright for Solana (SOL), according to a crypto strategist who accurately predicted the recent meltdown of the popular layer-1 protocol. Bluntz, a pseudonymous analyst with a significant following on social media platform X, believes that SOL will be in deep bear territory for the next two years.
While Bluntz is bearish on SOL in the long term, he anticipates that the altcoin will experience counter-trend rallies in the upcoming months. However, he warns that these surges could set Solana up for an even more significant drawdown in the future.
Utilizing the Elliott Wave theory in his analysis, Bluntz suggests that SOL will complete its A-wave pullback once it drops below $100. He predicts that a B-wave rally could take SOL to $200 by early 2026, followed by a crash to around $80 in 2027 for the C-wave correction. However, Bluntz foresees a new five-wave rally that could see Solana trading above $300 in 2028.
At the time of writing, SOL is trading at $118.10, down nearly 7% for the day. Bluntz also has a bearish outlook on the US Dollar Index (DXY), predicting a challenging year for the global reserve asset in 2025.
According to Bluntz’s analysis, the DXY is currently undergoing a C-wave correction that could potentially push the index below 100 points. As of now, the DXY is trading at 103.84 points.
In conclusion, Bluntz’s predictions paint a grim picture for both Solana and the US Dollar Index in the coming years. Investors and traders in these markets should closely monitor the developments and be prepared for potential volatility and downtrends.
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