Kraken: Ethereum Outperforms Bitcoin as Bulls Target $2,665 Resistance

Ethereum (ETH) is demonstrating notable strength in the cryptocurrency market, carving out a fresh bullish trajectory even as Bitcoin (BTC) faces downward pressure. On June 6, 2025, ETH/USD successfully breached the critical $2,550 resistance level, signaling renewed investor confidence. The pair is now eyeing the next resistance zone between $2,640 and $2,665, with technical analysis revealing a rising channel that has established solid support near $2,600 on the hourly chart. This comes after Ethereum tested $2,677 before undergoing a minor retracement below $2,620—a healthy consolidation phase that maintains the asset's bullish structure. Notably, Ethereum continues to trade above both the psychologically important $2,550 level and the 100-hour moving average, reinforcing the positive momentum. Market participants are closely monitoring whether ETH can sustain this outperformance against Bitcoin, potentially heralding an altcoin season. The current technical setup suggests that as long as Ethereum holds above the $2,600 support, traders may anticipate further upside toward the $2,665 target and beyond.

Ethereum Price Aims Higher Amid Bitcoin's Decline

Ethereum has initiated a fresh upward trajectory, surpassing the $2,550 resistance level while Bitcoin struggles. ETH/USD now faces immediate resistance near $2,640-$2,665, with a key rising channel forming support at $2,600 on the hourly chart.

The asset consolidated gains after testing $2,677, retracing slightly below $2,620. Market structure remains bullish as ethereum trades above both the $2,550 psychological level and the 100-hour moving average. A decisive break above $2,720 could propel prices toward $2,780.

Bitcoin Price Dips Sharply Below $102K as Profit-Taking Accelerates

Bitcoin's price trajectory took a bearish turn, slipping below the $104,000 support level and testing the $100,500 zone. The cryptocurrency now faces consolidation with potential further declines if it breaches the $100,000 threshold.

A key bullish trend line at $104,600 was broken on the hourly BTC/USD chart, signaling weakening momentum. The pair briefly touched $100,400 before attempting a modest recovery to $101,500, representing a 23.6% Fibonacci retracement of the recent drop from $106,820.

Market participants are closely watching the $103,200 resistance level, with $103,600 marking the 50% retracement point. Trading activity remains subdued below both the $103,000 mark and the 100-hour moving average, suggesting continued bearish pressure in the short term.