The post Solana Targets $420, XRP and AAVE Show Strong Breakout Potential When Markets Recover appeared on BitcoinEthereumNews.com.

The market is a sea of red on Sunday following the Trump Trade War tariffs. But what if the market is overreacting? Once things calm down, there will be some fast recoveries, for traders who can stomach short term pain, long term gains are ahead. A sea of red in the alt coin markets, Source CoinmarketCap Top Cryptocurrencies to Watch: Solana Aiming for $420, XRP and AAVE Set for Breakouts Solana is looking to target $420 and XRP is approaching a demand zone that will decide its next move. AAVE is showing strength and if momentum continues it could hit $380. With whale transactions and market trends playing a big role, traders are watching these assets for trading opportunities. But first, we have to get through the current dump. Solana: SOL to Hit $420 If Market Rebounds? Once the dump is over, Solana (SOL) may break out, XRP and AAVE could follow. SOL could hit $420, according to analysts, with support and resistance deciding the next big move. Solana has experienced fluctuations, reflecting the broader market’s movement. .Solana weekly price chart. Source: Brave New Coin The token’s price has seen retracements similar to previous rally patterns, and analysts are closely watching the 50% Fibonacci retracement zone. If SOL holds above this level, it could trigger a push toward the -1 Fibonacci extension, which aligns with the projected $420 price target. Source: X Adding to the speculation, Whale Alert reported that a transaction involving 694,746 SOL, valued at $165.25 million, took place between two unidentified wallets. Such large movements often indicate shifts in market sentiment, potentially signaling an upcoming rally. According to the latest data, Solana is trading at around $235.26, reflecting a slight decline. The primary resistance level at $260 remains a crucial hurdle. If SOL breaks past this level,…

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Filed under: News - @ February 2, 2025 8:20 pm