Solana (SOL) is no stranger to wild price fluctuations. The asset soared to an all-time high of $293.31 earlier this year, but has since fallen more than 57%. According to CoinGecko, SOL is currently down 1.6% on the daily chart, 1.3% on the weekly chart, 6.8% on the 14-day chart, and 4% month-over-month. SOL is also down 31.5% since December 2024, which is concerning considering the fact that SOL was one of the best performing cryptocurrencies last year. However, the current price drop may present a great opportunity to buy Solana (SOL) at a discount. Let's discuss why.
Now might be a good time to buy a Solana.
Solana (SOL) price fell below $9 after the FTX collapse in 2022. Since the 2022 low, SOL price has hit multiple all-time highs. SOL's recovery in recent years is evidence of its resilience. While the current price decline is a concern for many, SOL is likely to recover in price in the coming months, if not years.
Solana (SOL) tends to follow the trajectory of Bitcoin (BTC). Many financial institutions expect BTC to rise in the coming months. VanEck published a report claiming that BTC may be nearing a bottom. The financial institution cites the capitulation of BTC miners to support its claim. Grayscale also believes that BTC will reach a new high in 2026. Along with Grayscale, Bernstein predicts that BTC will reach new highs next year, with a price of $150,000 in 2026 and $200,000 in 2027. If BTC reaches new highs, Solana (SOL) is likely to do the same.
Solana (SOL) has also launched several spot ETFs in the past few months. Although ETF inflows are low, the trend could change in the coming months given investors' risk-off approach. With ETF inflows, SOL could reach a new peak in 2026.
