Kraken Observes Ethereum’s Bullish Momentum as Price Nears Critical Breakout

Ethereum’s price is showing strong signs of a potential breakout as it approaches a critical resistance level. Trading above key moving averages and demonstrating resilience, ETH could be poised for significant gains if it clears the $1,800 barrier. market participants on Kraken and other exchanges are closely monitoring this development, which could signal a new phase of upward momentum for the cryptocurrency.

Ethereum Price Nears Launch Point — Can It Break Free This Time?

Ethereum’s price has initiated a fresh upward trajectory from the $1,735 support zone, signaling potential for further gains. The cryptocurrency now trades above $1,780 and the 100-hourly Simple Moving Average, with a decisive break above the $1,800 resistance level on the ETH/USD hourly chart.

Market observers note Ethereum’s resilience, maintaining strength above $1,720 despite recent fluctuations. The breach of a key bearish trend line suggests growing bullish momentum, with $1,840 emerging as the next critical resistance level to watch.

Technical indicators show ETH has surpassed the 50% Fibonacci retracement level, reinforcing the positive sentiment. Traders anticipate a sustained upward move if the $1,840 barrier is convincingly cleared, potentially opening the door for extended gains in the NEAR term.

XRP Price Eyes Upside Break Above $2.25 Resistance

XRP has initiated a recovery from its $2.1250 support level, signaling potential bullish momentum if it can decisively breach the $2.250 resistance. The asset currently trades below both this key level and its 100-hour moving average, with a bearish trendline capping gains near $2.2450 on Kraken’s hourly chart.

The cryptocurrency underperformed Bitcoin and Ethereum during recent market movements, dipping below multiple support levels before finding footing. Market participants now watch for a confirmed close above $2.25, which could open the path for renewed upward trajectory.

Dogecoin Struggles to Overcome Key Resistance Amid Market Correction

Dogecoin faces mounting pressure as it fails to sustain momentum above critical resistance levels. The meme cryptocurrency retreated from its $0.1920 peak after encountering strong selling pressure near the psychologically important $0.20 threshold.

Technical indicators reveal a concerning pattern, with Doge now trading below both the $0.18 support level and its 100-hour moving average. A pronounced bearish trend line has formed at $0.1740 on the DOGE/USD hourly chart, based on Kraken exchange data, creating additional overhead resistance.

The current market behavior mirrors broader crypto trends, with Dogecoin showing correlation to Bitcoin and Ethereum’s movements. While the asset demonstrated initial strength by breaking through $0.1650 and $0.1750 resistance zones, the failure to maintain these gains suggests persistent weakness among speculative assets.