Kraken Sees Bitcoin Breakout as BTC/USD Challenges $110K Resistance
Bitcoin has reignited its bullish momentum, surging toward the $110,000 mark after breaking through key resistance levels on Kraken's exchange. The BTC/USD pair successfully overcame a critical bearish trendline at $106,300, reinforcing investor confidence in the cryptocurrency's upward trajectory. Currently trading above $108,000 and the 100-hour moving average, Bitcoin's technical indicators suggest further gains may be on the horizon. This latest rally highlights Kraken's role as a pivotal platform for significant price movements in the crypto market.
Bitcoin Price Surges Toward $110K Amid Bullish Momentum
Bitcoin has reignited its upward trajectory, climbing from a $105,200 support level to challenge the psychologically significant $110,000 resistance. The BTC/USD pair broke through a key bearish trendline at $106,300 on Kraken's hourly chart, signaling renewed bullish conviction.
The cryptocurrency now trades firmly above $108,000 and its 100-hour moving average, with technical indicators suggesting potential for further gains. A decisive close above $110,000 could open the path for extended upside, while the $107,000 level serves as critical short-term support.
Market participants watch Fibonacci levels closely, with the price currently testing the 1.236 extension of its recent pullback. This technical breakout comes amid growing institutional interest and positive sentiment across digital asset markets.
Ethereum Price Pops Above $2,550 — Can It Avoid a Quick Reversal?
Ethereum's price has surged past the $2,550 mark, signaling a potential bullish trend after recovering from a low of $2,375. The cryptocurrency now faces a critical test at the $2,620 resistance level, with traders watching for signs of sustained momentum.
A contracting triangle pattern on the hourly chart suggests consolidation NEAR $2,560, while the 100-hourly Simple Moving Average provides additional support. The 1.618 Fib extension level at $2,615 could act as a near-term hurdle, with a decisive break above $2,650 potentially opening the door for further gains.
