Kraken Traders Watch as Ethereum Tests Critical $1,700 Support Amid Pullback Signals
Ethereum’s price action indicates a potential pullback after surpassing the $1,720 resistance, with traders closely monitoring the $1,700 support level on Kraken. The ETH/USD pair shows mixed signals as it balances above key moving averages but faces bearish pressure NEAR $1,780.
Ethereum Price Charts Hint at Pullback — Support Levels In Focus
Ethereum’s price action shows signs of a potential retracement after a recent surge past the $1,720 resistance level. The second-largest cryptocurrency now faces a critical test at the $1,700 support zone as traders assess whether the uptrend remains intact.
The ETH/USD pair, trading above both the $1,700 psychological level and its 100-hour moving average, has formed a bearish trend line with resistance near $1,780 on Kraken’s hourly chart. market participants are watching for a decisive break above $1,800 to confirm continuation of the bullish momentum.
This technical pattern emerges after Ethereum mirrored Bitcoin’s recent strength, climbing steadily from its $1,680 base to briefly touch $1,834 before encountering profit-taking pressure. The current pullback represents a healthy consolidation within an established uptrend rather than a reversal signal.
XRP Price Hovers at Key Support Level Amid Market Correction
XRP faces a critical juncture as its price consolidates near the $2.15 support level following a retreat from recent highs. The digital asset, which surged past $2.30 earlier this week, now shows tentative signs of stabilization above its 100-hour moving average.
A descending trendline at $2.20 presents immediate resistance on the XRP/USD pair, with Kraken exchange data suggesting bulls may regain control barring a breakdown below current support levels. The token’s performance mirrors broader market movements, tracking similar patterns observed in Bitcoin and Ethereum.
Solana (SOL) Holding Strong Above $150 — Breakout Zone In Play
Solana has demonstrated resilience, bouncing from the $132 support level to trade firmly above $150. The cryptocurrency now eyes a decisive breakout past the $155 resistance, with technical indicators suggesting bullish momentum.
A connecting trend line on the hourly SOL/USD chart provides additional support at $150, reinforcing the asset’s upward trajectory. Market sentiment aligns with broader crypto gains, as Bitcoin and Ethereum similarly rally.
The Kraken-listed asset surged over 10% during this recovery phase, peaking at $154.55 before entering consolidation. Traders await confirmation of sustained demand to propel prices beyond immediate resistance levels.
