Kraken Data Confirms Ethereum’s Bullish Breakout Above $2,350 Resistance

Ethereum has demonstrated a strong rebound, surging past key resistance levels with an impressive 8% gain, as bullish momentum takes control. The cryptocurrency climbed from $2,120, breaking through multiple barriers, including a critical bearish trendline at $2,240 on the ETH/USD hourly chart. According to Kraken data, the breakout above the 100-hour Simple Moving Average (SMA) has been confirmed, with the next target set at the $2,460 zone. Technical indicators suggest that Ethereum is currently consolidating near the 76.4% Fibonacci retracement level of its recent downturn. This decisive move signals renewed confidence among traders and investors, potentially paving the way for further upward momentum in the near term.

Ethereum Price Rebounds Strongly, Clears $2,350 Resistance With 8% Gain

Ethereum surged past key resistance levels, marking an 8% gain as bulls reclaimed control. The rally from $2,120 breached multiple barriers, including a bearish trendline at $2,240 on the ETH/USD hourly chart. Kraken data confirms the breakout above the 100-hour SMA, with momentum eyeing the $2,460 zone.

Technical indicators suggest consolidation NEAR the 76.4% Fib retracement level of the recent downturn. A decisive close above $2,500 could propel ETH toward $2,550, completing the recovery from June's swing low. Market sentiment mirrors Bitcoin's resurgence, though on-chain data shows thinner liquidity above current levels.

XRP Price Reclaims Key Resistance — Are More Gains on the Horizon?

XRP has surged past the $2.10 mark, signaling a potential bullish reversal after finding solid support above $1.920. The breakout above a key bearish trend line at $2.00 on the hourly chart suggests renewed buying pressure, with Kraken data showing a clear path toward $2.20 if resistance at $2.180 is decisively breached.

Market sentiment mirrors broader crypto momentum, with Bitcoin and ethereum also posting recoveries. Traders are now watching the $2.25 level as the next target, though consolidation near current levels may precede further upside. The 100-hourly SMA reinforces the bullish case, while the 23.6% Fib retracement level acts as near-term support.