Solana (SOL) is no stranger to violent price swings. The asset climbed to a new all-time high of $293.31 earlier this year, but has since fallen by more than 57%. According to CoinGecko, SOL is currently down by 1.6% in the daily charts, 1.3% in the weekly charts, 6.8% in the 14-day charts, and 4% over the previous month. SOL is also down by 31.5% since December 2024, which is concerning, considering the fact that SOL was one of the best-performing cryptocurrencies of last year. However, the current price dip could be an excellent opportunity to buy Solana (SOL) for a discount. Let’s discuss why.
Now May Be a Good Time To Buy Solana
Solana’s (SOL) price fell to below $9 after the collapse of FTX in 2022. Since its 2022 lows, SOL’s price has hit multiple all-time highs. SOL’s rebound over the last few years is a testament to its resilience. While the current price dip is worrisome for many, there is a high chance that SOL will recover its price over the coming months, if not years.
Solana (SOL) tends to follow Bitcoin’s (BTC) trajectory. Many financial institutions anticipate BTC to rally in the coming months. VanEck has released a report claiming that BTC could be nearing its bottom. The financial institution cites BTC’s miner capitulation to support its argument. Grayscale is also of the opinion that BTC will climb to a new peak in 2026. Along with Grayscale, Bernstein has also predicted BTC to hit a new high next year, anticipating a price of $150,000 in 2026 and $200,000 in 2027. BTC hitting a new peak will likely lead to Solana (SOL) making a similar move.
Also Read: Skybridge Analyst Gives Huge Solana Prediction: SOL to $2,500?
Solana (SOL) also saw the launch of several spot ETFs over the last few months. While ETF inflows have been low, considering the risk-off approach from investors, the trend may change over the coming months. ETF inflows could lead to SOL hitting a new peak in 2026.