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4 June 2025,06:54

Chart The Market

Chart the Market (04/06/2025)

4 June 2025, 06:54

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ETH, H4: 

Ethereum’s recent price action has painted a complex technical picture, initially sparking concerns of a false breakout when it retreated below its higher-high support level after briefly touching a three-month peak at  2,787.50. This pullback saw ETH consolidate around the 2,500 level, where it established a new base before mounting a fresh upward move.

The latest session brought a potentially significant development as Ethereum decisively broke out from this consolidation range, suggesting the earlier decline may have represented a healthy correction rather than a failed breakout. This new upward movement gains credence from improving momentum indicators – the Relative Strength Index has now climbed above the neutral 50 level, signaling a shift from bearish to bullish momentum, while the Moving Average Convergence Divergence indicator appears ready to cross above the zero line, typically a confirmation of strengthening positive momentum.

The coming sessions will be crucial in determining whether this breakout represents the beginning of a sustained upward move or another temporary advance within a broader consolidation pattern. Market participants should monitor both price action around these key levels and continued confirmation from momentum indicators to gauge the strength of this apparent trend reversal.

Resistance Levels: 2750.00, 3050.00

Support Levels: 2455.00, 2080.00

EURUSD, H4

The EURUSD pair has retreated sharply from its five-week high, declining nearly 0.7% in the previous session, despite maintaining a structurally bullish pattern of higher highs and higher lows. This pullback carries heightened significance as it coincides with emerging technical warnings that suggest the pair’s upward momentum may be weakening.

The Moving Average Convergence Divergence (MACD) indicator has been displaying a concerning bearish divergence, progressively declining even as the currency pair notched fresh highs—a classic warning signal that often precedes trend reversals. Meanwhile, the Relative Strength Index (RSI), while still holding above the 50 midline, appears to be struggling to maintain its footing. A decisive break below this 50 level would provide further confirmation that bullish momentum is dissipating.

Resistance Levels: 1.1468, 1.1625

Support Levels: 1.1335, 1.1200

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