Kraken Data Shows Ethereum Whales Buoy Market Amid $3,850 Retreat

Ethereum faced a pullback from the $3,850 resistance level as traders took profits, but significant whale activity has helped cushion the downside. The cryptocurrency is currently testing a crucial support zone around $3,520 after dipping below its 100-hour moving average. On-chain data from Kraken reveals restrained selling pressure near key Fibonacci retracement levels, with a bearish trendline forming at $3,670 on hourly charts. Despite the correction, large investors continue accumulating ETH, signaling underlying confidence in the asset's medium-term prospects. This whale demand could set the stage for the next upward move once the current consolidation phase concludes.

Ethereum Corrects from $3,850 as Whale Demand Caps Downside

Ethereum's price retreated from the $3,850 resistance level amid profit-taking, though whale accumulation appears to be limiting losses. The second-largest cryptocurrency now tests critical support NEAR $3,520 after slipping below its 100-hour moving average.

A bearish trend line has emerged at $3,670 on hourly charts, with Kraken data showing contained selling pressure near Fibonacci retracement levels. The 76.4% retracement of ETH's recent swing from $3,480 to $3,859 has notably attracted buyers.

Market structure suggests potential for reversal if $3,550 support holds. Traders are watching for a breakout above the $3,670-$3,770 resistance cluster to confirm renewed bullish momentum.

XRP Price Trims Gains After Rally – Is This Just a Healthy Correction?

XRP's recent rally has hit a snag, with the cryptocurrency retreating from its $3.650 peak to trade below $3.30. The pullback mirrors broader market trends, as Bitcoin and ethereum also face downward pressure. Technical indicators suggest further downside risk, with a key bearish trend line forming at $3.30 resistance.

The token now hovers near the 23.6% Fibonacci retracement level of its recent decline. Market watchers are eyeing the $3.050 support zone – a breach could trigger deeper losses, while holding above may set the stage for another upward move. The 100-hour moving average currently acts as overhead resistance, with $3.2650 marking the first significant hurdle for bulls.