Solana (SOL) just hit its lowest price in seven months – but one top analyst says the dip won’t last long.
Despite the recent crash, the analyst calls for a massive rebound, predicting SOL will surge back to $265 by next quarter.
Is this an ambitious call or a realistic outlook for one of crypto’s biggest altcoins?
Solana Price Drops to 7-Month Low as Bears Remain in Control
Solana has been experiencing a slump lately, and yesterday’s drop to $112 marked its lowest point since August 2024.
While it has jumped slightly to $124, the bears still have the upper hand, keeping SOL under pressure.
Open interest has dropped to just $2.1 billion, while CFGI’s Solana Fear & Greed Index sits at a low 29 – firmly in “Fear” territory.
A major factor behind this sell-off is the token unlock from March 1 that released 11.2 million SOL tokens from FTX’s bankruptcy liquidation.
At the time, that was around $1.6 billion worth of new supply flooding the market – more than enough to shake investor confidence.
On top of that, Solana’s on-chain activity has nosedived, with active users dropping from October’s high and transaction volumes plunging from $2 billion to $26 million.
Recent meme coin rug pulls and a sharp decline in Total Value Locked (TVL) have only added to the damage, making SOL’s sell-off unsurprising.
Crypto Analyst Predicts Solana Could Rebound to $265 – Here’s Why
Despite Solana’s price drop, not everyone is convinced the downtrend will last.
In a video released yesterday to his 286,000 YouTube subscribers, crypto analyst More Crypto Online made a bold case for SOL’s potential recovery.
While he did acknowledge the ongoing bearishness, he believes a Wave B bounce could send SOL soaring as high as $265 before its next big move.
His analysis shows SOL following a textbook Elliott Wave pattern, currently stuck in what traders call a Wave 3 downtrend.
The recent drop below $130 confirmed this bearish phase.
However, More Crypto Online argued that a Wave 4 retracement is due soon, which could lead to a short-term rally.
If SOL manages to break back above $135, that could signal that the bulls are in control.
And in a super-bullish scenario, he even suggests that SOL could push towards $360 – but for now, the first target is $265.
This optimistic call has gone down well with Solana holders.
Could Low-Cap Crypto Solaxy Explode if SOL Recovers? SOLX Token Presale Nears $26M
If Solana manages to recover, it won’t just be SOL holders who benefit – projects built on the network could also get a boost.
One low-cap gem already gaining serious traction is Solaxy (SOLX).
This new project aims to be Solana’s first proper Layer-2 scaling solution, and given the chain’s history of congestion, this could be revolutionary.
Solaxy works by processing transactions off-chain in batches before finalizing them on Solana’s mainnet.
This setup helps reduce congestion, speed up transactions, and cut fees – similar to what Arbitrum and Optimism do for Ethereum.
The project’s presale has now pulled in $25.8 million, and with staking rewards set at 158% per year, it’s easy to see why investors are piling in.
Meme coin analyst Danjo Capital Master has even called SOLX one of the “top meme coins” to buy in 2025.
But can it live up to all this early hype?
If Solana’s price rebounds and confidence returns to the ecosystem, Solaxy could be in an excellent spot for growth.
Plus, the project already has thriving communities on X (Twitter) and Telegram, which are often key ingredients for the success of a meme coin.
Of course, as with any new project, there are risks involved.
But if SOL regains momentum and investor sentiment flips bullish, Solaxy could be a sleeper pick that turns into something much bigger.
