Kraken Traders Watch as Bitcoin Tests Key Resistance Levels Amid Bullish Signals

Bitcoin’s price action is currently at a pivotal moment, with traders on platforms like Kraken closely monitoring whether the cryptocurrency can break through immediate resistance levels or face another rejection. After testing support at $103,200, BTC has demonstrated resilience, rebounding above $105,000 and the 100-hour Simple Moving Average. A bullish trend line is forming on the hourly chart, providing support near $104,050, which could signal potential upward momentum if the resistance is breached. This development has sparked heightened interest among traders, who are eagerly awaiting the next decisive move in Bitcoin’s price trajectory.

Bitcoin Price Encounters Resistance — Traders Eye Breakout or Rejection

Bitcoin’s price action is at a critical juncture, with traders closely monitoring whether the cryptocurrency can overcome immediate resistance levels or face another rejection. After dipping to test support at $103,200, BTC has shown resilience, climbing back above $105,000 and the 100-hour Simple Moving Average.

A bullish trend line is emerging on the hourly chart, offering support NEAR $104,050. The next decisive move hinges on Bitcoin’s ability to breach the $107,000 resistance zone—a level that coincides with the 50% Fibonacci retracement of the recent decline from $110,500 to $103,200.

Market participants are weighing two scenarios: a breakout above $107,000 could signal renewed upward momentum, while failure to clear this hurdle may reinforce bearish pressure. The Kraken exchange data reflects this tension, with liquidity pools forming around key technical levels.

Ethereum Price Aims for Upside Break as Bulls Eye Key Resistance Levels

Ethereum has initiated a recovery wave from the $2,470 support zone, outperforming Bitcoin in recent trading sessions. The ETH/USD pair successfully breached the $2,500 and $2,540 resistance levels, signaling renewed bullish momentum. Market participants now watch the $2,650-$2,660 resistance band—a critical threshold near the 61.8% Fibonacci retracement of the recent downturn from $2,788 to $2,470.

The 100-hour Simple Moving Average currently provides support at $2,540, though the breakdown of a rising channel at $2,580 suggests potential near-term weakness. A decisive close above $2,660 could confirm trend reversal, while failure to hold $2,545 may trigger another test of lower supports. Trading volume on Kraken shows institutional interest building at these key technical levels.