Kraken Observes Ethereum’s Bullish Surge: $3,850 Target in Sight

Ethereum's price is showing strong bullish momentum, breaking past the $3,720 resistance level and trading firmly above its 100-hour moving average. Supported by a bullish trendline at $3,670 on the ETH/USD hourly chart, the cryptocurrency is poised for further gains. Technical indicators suggest the next key target is $3,850, with Ethereum recently testing $3,860 before a healthy retracement. This upward movement highlights renewed strength in Ethereum's market position, making it a focal point for traders and investors on platforms like Kraken. As of July 23, 2025, the market sentiment remains optimistic, with Ethereum's performance signaling potential for continued growth in the near term.

Ethereum Price Eyes $3,850 as Bullish Momentum Builds

Ethereum's price action shows renewed strength, breaking past the $3,720 resistance level with conviction. The second-largest cryptocurrency now trades firmly above its 100-hour moving average, supported by a bullish trendline at $3,670 on the ETH/USD hourly chart.

Technical indicators suggest potential for further upside, with $3,850 emerging as the next key target. The asset recently tested $3,860 before undergoing a healthy retracement that found support NEAR the 61.8% Fibonacci level of its recent swing from $3,481 to $3,859.

Market structure remains positive as long as ETH maintains above the $3,650 support zone. Liquidity pools above $3,800 appear to be drawing price action upward, though resistance near $3,770 may temper immediate gains.

XRP Price Maintains Support as Bulls Eye Further Gains

XRP has demonstrated resilience above the $3.40 support level, with a bullish trend line forming at $3.480 on the hourly chart. The cryptocurrency now trades above both the $3.450 mark and its 100-hour moving average, signaling potential for continued upward momentum.

After clearing the $3.50 resistance, XRP briefly tested $3.65 before consolidating. The current price action suggests accumulation, with the 61.8% Fibonacci retracement level at $3.55 serving as the next key hurdle. A sustained MOVE above this level could open the path toward retesting recent highs.

Market participants appear to be favoring XRP over Bitcoin and ethereum in the short term, as evidenced by its relative outperformance. The Kraken exchange data shows healthy trading volumes supporting the current technical structure.

Solana (SOL) Breaks $200 Resistance, Eyes $220-$250 Zone

Solana's SOL surged past the $200 mark, signaling strong bullish momentum as it targets the $220-$250 range. The cryptocurrency found solid support above $195, backed by a key bullish trend line on the hourly chart. Market participants are now watching the $205 resistance level for confirmation of further upside.

The rally follows a broader market uptrend, with SOL mirroring gains seen in Bitcoin and Ethereum. Technical indicators suggest sustained buying pressure, with the 100-hourly moving average acting as a dynamic support floor. A decisive close above $215 could pave the way for a test of $232 resistance.