Kraken Observes Ethereum’s Bullish Surge: ETH Breaks $3,400 Barrier with Strong Momentum

Ethereum (ETH) has demonstrated remarkable bullish momentum, breaking past the $3,400 mark in a significant upward movement. Starting with a decisive push above $3,150, ETH steadily climbed to $3,250 before peaking at $3,423. The cryptocurrency is now consolidating while maintaining support above the 100-hourly Simple Moving Average, with a bullish trend line forming around $3,300. This breakout highlights renewed investor confidence and strong market demand for Ethereum, positioning it as a standout performer in the current crypto rally. Traders on platforms like Kraken are closely monitoring these developments as ETH continues to show strength against key resistance levels.

Ethereum Price Breaks Out: Smashes $3,400 Mark in Bullish Run

Ethereum surged past the $3,400 threshold, marking a significant bullish momentum. The cryptocurrency broke through key resistance levels, starting with a decisive MOVE above $3,150, followed by a steady climb to $3,250. At its peak, ETH tested $3,423 before entering a consolidation phase.

The current trading pattern shows ethereum holding above the 100-hourly Simple Moving Average, with a bullish trend line forming at $3,300 on the hourly chart. Market observers note that maintaining support above $3,220 could pave the way for further gains, while resistance near $3,420 remains a critical level to watch.

Ethereum's outperformance against Bitcoin highlights its growing strength in the market. Traders are eyeing the $3,500 zone as the next potential target if the upward trajectory continues.

Dogecoin Consolidates While Floki Surges: Market Dynamics at Play

Dogecoin (DOGE) shows signs of consolidation above the $0.20 support level after a recent uptick, with technical indicators suggesting potential for further gains. A bullish trend line forming at $0.2060 on the DOGE/USD hourly chart signals underlying strength, while resistance looms NEAR $0.2120 and $0.2180. Clearing these levels could reignite upward momentum.

Meanwhile, FLOKI (FLOKI) rockets higher, contrasting with DOGE's measured pace. The meme coin sector remains volatile, with SHIB and PEPE also attracting attention. Kraken's price data reveals DOGE's 23.6% Fib retracement from its $0.2205 high, indicating healthy profit-taking before the next potential leg up.

XRP Price Fires Up Again: Momentum Grows, Eyes Key Resistance

XRP price has reignited its upward trajectory, breaking past the $3.020 mark and now consolidating above $2.950. The cryptocurrency shows no signs of slowing down as it eyes the next critical resistance level at $3.10.

A bullish trend line is forming on the hourly chart, with strong support established at $2.950. The asset's ability to hold above this level, coupled with its position above the 100-hourly Simple Moving Average, suggests sustained buyer interest.

Market observers note XRP's performance mirrors broader crypto market trends, with Bitcoin and Ethereum also showing strength. The token's recent surge from $2.660 to test $3.10 demonstrates growing momentum, though it now faces immediate resistance near $3.050.