Kraken Market Analysis: Ethereum Faces Resistance Amid Bearish Signals

Ethereum’s price recently failed to break through the critical $2,520 resistance level, leading to a corrective phase that pushed the cryptocurrency down to test support at $2,320. As of May 19, 2025, ETH is trading below both the psychological $2,500 mark and its 100-hour moving average, with technical indicators pointing toward potential further declines to $2,220. A bearish trend line has formed on hourly charts, with resistance solidifying near $2,540, suggesting continued downward pressure in the short term. This development highlights the challenges Ethereum faces in regaining bullish momentum, as traders monitor key levels for potential breakout or breakdown scenarios.

Ethereum Price Fails to Break Through Key Resistance Level

Ethereum’s price faced rejection NEAR the $2,520 resistance level, triggering a corrective phase that saw ETH test support at $2,320. The second-largest cryptocurrency now trades below both the psychological $2,500 level and its 100-hour moving average, with technical indicators suggesting potential further downside toward $2,220.

A bearish trend line has emerged on hourly charts, with resistance currently firming near $2,540. Market participants await a decisive break above $2,550 to signal renewed bullish momentum. The current pullback represents a 50% retracement of the recent upswing from $2,308 to $2,509.

XRP Price Struggles to Hold Ground — Breakdown or Breather?

XRP faces renewed selling pressure after failing to sustain momentum above $2.45, mirroring broader market weakness. The digital asset now tests critical support at $2.35 as traders weigh whether this represents a temporary consolidation or the start of a deeper correction.

A descending trendline on hourly charts suggests bearish momentum, though the formation of a potential bullish flag pattern near $2.32 could signal accumulation. Market participants are closely watching the 100-hour moving average, currently acting as resistance near $2.48.

The Kraken exchange data shows XRP’s struggle to maintain footing comes amid mixed performance across major cryptocurrencies. Trading volumes remain subdued compared to last week’s activity, indicating cautious market sentiment.

Dogecoin (DOGE) Faces Resistance as Meme Coin Rally Cools

Dogecoin’s recent upward momentum has stalled near the $0.2320 level against the US Dollar, with the meme cryptocurrency now retracing toward $0.2180. The pullback comes amid broader cooling in speculative crypto assets.

A connecting bullish trend line offers potential support at $0.220 on DOGE/USD hourly charts, with Kraken data showing the pair trading below both the $0.2250 level and 100-hourly moving average. Market observers note the $0.230 zone now serves as critical resistance for any renewed bullish momentum.

The digital asset had previously rebounded from $0.2110 support, mirroring moves in Bitcoin and Ethereum, before encountering selling pressure. Whether DOGE can regain its footing may depend on broader market sentiment toward risk assets in coming sessions.