Kraken News: Ethereum Price Recovery Faces Hurdles Below $2K

Ethereum Price Recovery Stalls Below $2K

Ethereum price attempted a recovery above the $1,880 level but failed, now trading below $1,850 and the 100-hourly Simple Moving Average. There was a break below a key bullish trend line with support at $1,865 on the hourly chart. The pair must clear the $1,865 and $1,890 resistance levels to start a decent increase. Although Ethereum managed to stay above the $1,800 support zone and pushed above the $1,920 resistance, the bears are active near the $1,950 zone.

XRP Price Under Pressure

XRP price started a fresh decline after failing to clear the $2.2350 resistance zone. The price dipped below the $2.120 zone and the 100-hourly Simple Moving Average. There was a break below a short-term contracting triangle with support at $2.080 on the hourly chart. The pair might extend losses if it fails to clear the $2.120 resistance zone. XRP attempted a recovery above the $2.120 and $2.20 resistance levels but faced a strong bearish reaction, forming a high at $2.2350.