Kraken Market Analysis: Bitcoin Faces Critical Resistance Amid Bearish Pressure
As of October 15, 2025, Bitcoin's market dynamics on Kraken and other major exchanges show concerning technical patterns. The cryptocurrency's brief recovery above $115,000 proved unsustainable, with renewed selling pressure pushing prices downward. A significant bearish trend line has formed at $118,250 on hourly charts, creating substantial resistance alongside the 100-hour moving average. Market sentiment has notably shifted following Bitcoin's failure to maintain support above $115,000, with technical indicators now pointing toward potential further declines. The $110,500 level has emerged as the next critical support threshold that traders are closely monitoring. This development represents a crucial moment for Bitcoin's short-term trajectory, as breaking below key support levels could trigger additional downward momentum across cryptocurrency markets.
Bitcoin Price Struggles as Bearish Trends Emerge
Bitcoin's price recovery above $115,000 proved short-lived as selling pressure resurged. The cryptocurrency now faces critical resistance NEAR $116,000, with technical indicators suggesting potential downside risk.
A bearish trend line has formed at $118,250 on the hourly chart, while the 100-hour moving average acts as dynamic resistance. The failure to hold above $115,000 has shifted market sentiment, with $110,500 emerging as the next key support level.
Market participants are watching the $114,000-$116,000 zone closely. A decisive break above this barrier could invalidate the bearish scenario, potentially targeting $117,200. However, the current technical setup favors sellers in the near term.
Ethereum Holds Key Support, Bulls Eye $4,350 Amid Recovery
Ethereum's price action suggests growing bullish momentum as it stabilizes above critical support levels. The second-largest cryptocurrency by market cap has rebounded from its $3,890 low, now trading comfortably above the psychologically important $4,000 threshold. Technical indicators reveal a constructive setup, with ETH/USD forming a bullish trendline at $3,980 on Kraken's hourly chart.
The recovery wave gained traction after clearing the 50% Fibonacci retracement level of the recent pullback. Market participants are watching the $4,200 resistance level closely—a decisive break could open the path toward $4,350. The 100-hour moving average currently provides dynamic support, while the 76.4% Fib level at $4,200 presents the next immediate hurdle.
Traders appear cautiously optimistic as ethereum demonstrates relative strength against Bitcoin. The formation of higher lows since the $3,890 bottom suggests accumulation at these levels. A sustained move above $4,290 would confirm the bullish thesis, potentially triggering a wave of algorithmic buying pressure across major exchanges.
