Kraken Observes Bitcoin’s Bullish Breakout as Price Targets $105K

Bitcoin has demonstrated strong bullish momentum, breaking past the critical $103,500 resistance level and consolidating above $103,000. Traders are now eyeing a potential rally toward $105,000, fueled by a technical breakout and strong trading volume. This development, observed on Kraken and other major exchanges, signals renewed confidence in BTC’s upward trajectory.

Bitcoin Price Eyes Further Gains After Clearing Key Resistance

Bitcoin has initiated a fresh upward trajectory, decisively breaking through the $103,500 resistance level. The cryptocurrency now consolidates above $103,000, with market participants eyeing a potential push toward $105,000.

The recovery from $101,500 gained momentum after BTC breached a critical bearish trendline at $103,950 on hourly charts. This technical breakout, coupled with trading volume exceeding the 50% Fibonacci retracement of the recent pullback, suggests building bullish momentum.

Market structure appears favorable for continuation, with price action holding comfortably above the 100-hour moving average. A successful conquest of the $105,000 level could open the path toward year-to-date highs.

Ethereum Price Holding Strong — Signs Point to a New Upside Breakout

Ethereum’s price demonstrates resilience after testing the $2,500 support level, with technical indicators suggesting potential upward momentum. A bullish flag pattern on the hourly chart signals possible breakout conditions if resistance at $2,600 is decisively cleared.

Market participants observe ETH’s ability to maintain position above both the $2,520 level and the 100-hour moving average. The cryptocurrency’s recent correction from $2,740 appears to be finding equilibrium, with the $2,415 swing low serving as a critical reference point for Fibonacci retracement analysis.