As Brent crude oil climbs above $92 per barrel, some market commentators are eyeing a path toward $150 within a mere two weeks, highlighting the rapid impact regional tensions can have on global oil prices. Such a surge threatens to reignite inflationary pressures worldwide and complicate rate decisions by central banks. In the midst of these volatile market dynamics, traders are seeking guidance on possible targets for popular cryptocurrencies XRP, SOL, and AVAX heading into the weekend.
Solana Faces Pressure After Losing Key Support Level
Solana remains one of the leading smart contract platforms, especially in the Real World Asset (RWA) space, ranking just behind Ethereum. Institutional demand has been notable, with many firms viewing sub-$100 SOL pricing as an attractive opportunity, particularly via ETP and ETF investment channels. Despite this interest, the path to higher price action requires SOL to hold above the crucial $88 support. With Bitcoin slipping below the $68,000 mark, SOL has recently lost its key technical backing, exposing it to heightened short-term risk.
The dip earlier this February drove SOL to price levels unseen in over 770 days, yet attempts to breach the $97 threshold have thus far failed. This crucial level generated significant attention throughout 2023; after breaking past it previously, SOL surged toward its all-time high. In the near term, a bullish scenario would see SOL reclaim $123 after pushing above resistance, paving the way for new highs. However, if the broader downturn accelerates, $77 and $74 will serve as critical supports. A sustained breakdown here could leave SOL vulnerable to deeper declines, potentially targeting the $58–$45 region.
XRP Stalls After Early 2024 Rally; AVAX Battles Downturn
At the end of 2024, the announcement of Gary Gensler’s planned departure as SEC chair helped spark a robust rally in XRP, producing gains of nearly 300% for proactive traders. Nevertheless, profit-taking and continued selling across altcoins since July of last year have weighed heavily on XRP, resulting in a series of lower highs on the chart. Persistent closures below descending resistance ultimately pushed XRP down to challenge the $1 support, with momentum appearing fragile.
A key area for the bulls to reclaim remains the $1.43 region. If buyers succeed this weekend, XRP could attempt a further rally toward $1.67. That said, the uncertain outlook for Bitcoin, alongside the specter of fresh geopolitical developments from Iran or the United States, leaves room for downside moves toward $1.25.
Throughout 2023 and into this year’s uptrend, the $1.43 band has proven pivotal for medium- and long-term performance, market strategists observed.
Avalanche, meanwhile, continues to battle against a tough backdrop of declining liquidity and double-digit token inflation—a combination that has taken a toll across the altcoin sector. As the Avalanche ecosystem struggled to achieve the expansion seen in rival networks, notably Solana, AVAX’s downtrend proved even more pronounced, plunging toward 2023 lows within weeks. Closing below $8.62 on the daily chart would mark a critical breakdown, with renewed weekend volatility threatening a test of that floor. If these supports fail to hold, AVAX could slide deeper, risking a move toward $6. However, a positive shift in market sentiment would likely see an initial test of the $12.41 base, a key level for any potential trend reversal.
