Kraken ETH/USD Chart Signals Bearish Trend as Ethereum Struggles Below $1,800

Ethereum’s price continues to face downward pressure, with technical indicators on Kraken’s ETH/USD chart suggesting a deepening correction. As of May 6, 2025, ETH has fallen below critical psychological levels at $1,800 and its 100-hour moving average, raising concerns among traders about potential extended declines. The formation of a bearish trend line at $1,830 further compounds the negative outlook for the world’s second-largest cryptocurrency.

Ethereum Price at Risk of Extended Decline as Bears Regain Control

Ethereum’s price correction deepens as it struggles below key psychological levels. The second-largest cryptocurrency by market cap faces mounting bearish pressure after failing to sustain momentum above $1,880.

Technical indicators paint a concerning picture, with ETH now trading below both the $1,800 threshold and its 100-hour moving average. A developing bearish trend line at $1,830 on the Kraken ETH/USD chart suggests further downside potential unless bulls can regain control.

The $1,785 support level emerges as critical for Ethereum’s near-term trajectory. A breach could accelerate selling pressure, potentially retesting the recent swing low of $1,734. Market participants watch for either a decisive breakdown or reversal pattern to determine the next directional move.

XRP Price Dips Further: Key Support Levels In Jeopardy

XRP’s downward trajectory continues as the cryptocurrency breaches critical support levels. The asset now trades below $2.18, slipping under both the psychological $2.20 threshold and its 100-hour moving average. A bearish trend line has emerged on hourly charts, with resistance forming NEAR $2.1750.

Market observers note the failed attempt to sustain momentum above $2.25, mirroring broader market weakness seen in Bitcoin and Ethereum. The current consolidation near $2.095 suggests traders are reassessing positions after the latest sell-off. A decisive close above $2.20 could signal potential recovery, but absent that, technical indicators point toward possible further declines to the $2.020 level.

Solana (SOL) Faces Downside Pressure Amid Market Consolidation

Solana’s price action shows vulnerability as it struggles to maintain momentum above key support levels. The cryptocurrency has retreated from its recent high near $155, now hovering around $145 with potential for further declines if the $142 support fails to hold.

Technical indicators reveal a short-term rising channel formation on the hourly chart, suggesting a possible continuation pattern. Market participants await a decisive break either above the $148 resistance or below the current support zone to determine SOL’s next directional move.