Kraken Market Watch: Bitcoin’s Bullish Monthly Structure Signals Rally Continuation

Bitcoin's price action remains steady, showcasing a consolidation phase below the $108,800 resistance level, with technical indicators suggesting potential upward momentum. The cryptocurrency briefly tested $108,792 before retracing to $106,800, now stabilizing near the 23.6% Fibonacci retracement level. A bearish trend line currently caps immediate upside at $107,400, while the $105,500 zone acts as critical support. This market structure reinforces the bullish outlook, hinting at a possible continuation of the rally. As of July 1, 2025, traders and investors are closely monitoring these key levels for breakout or reversal signals, with Kraken's platform providing essential insights and tools for navigating this dynamic market.

Bitcoin Price Holds Steady — Bullish Monthly Structure Suggests Rally Continuation

Bitcoin's price action reveals a consolidation phase below the $108,800 resistance, with technical indicators hinting at potential upward momentum. The cryptocurrency briefly tested $108,792 before retracing to $106,800, now stabilizing NEAR the 23.6% Fibonacci retracement level.

A bearish trend line caps immediate upside at $107,400, while the $105,500 zone serves as critical support. Market structure remains constructive—a decisive break above $108,000 could validate continuation of the broader rally observed this month.

Hourly charts on Kraken's BTC/USD pair show the 100 SMA acting as dynamic resistance. Traders await either a breakout above the descending trendline or a deeper retest of support before committing to new positions.

XRP Price Surges, Then Cools — Will Bulls Return for Round Two?

XRP price staged a notable recovery, climbing above the $2.220 resistance level before encountering a pullback. The digital asset now hovers near $2.20, with traders watching for signs of renewed bullish momentum.

A key trendline forms at $2.20 on the hourly chart, coinciding with the 76.4% Fibonacci retracement level of the recent upswing from $2.165 to $2.327. The 100-hour moving average provides additional support near $2.180, creating a potential springboard for another rally.

Market participants eye the $2.280 level as immediate resistance, with a decisive break above $2.30 potentially reigniting buying pressure. The earlier surge saw XRP outperform both Bitcoin and Ethereum, suggesting growing investor interest in the altcoin.

Cardano (ADA) Consolidates Amid Mixed Signals

Cardano's price action remains indecisive as ADA struggles to break through key resistance levels. The digital asset retreated from its recent high of $0.590, finding temporary support near the $0.5650 level. Market participants are watching the developing trend line at $0.5640, which aligns with the 76.4% Fibonacci retracement of the recent upward move.

Technical indicators show ADA trading above its 100-hour moving average, suggesting underlying strength. However, the failure to sustain momentum above $0.5820 keeps bulls on the defensive. A decisive break above $0.590 could signal renewed upside potential, while a drop below $0.5560 might trigger further downside.