ETH, H4:
Ethereum (ETH) extended its rally in the previous session, reaching its highest level since March before encountering resistance near the $2,755 mark—a pivotal level that previously acted as a key inflection point. Failure to decisively break above this zone may trigger a technical retracement.
Momentum indicators are flashing early signs of a potential bearish reversal. The RSI has pulled back from the overbought zone while forming a lower high, suggesting waning buying pressure. Meanwhile, the MACD has formed a bearish crossover above the signal line and is edging lower, reinforcing the view that bullish momentum is fading.
Resistance Levels: 2752.00, 3060.00
Support Levels: 2457.00, 2080.00
USDCAD, H4
The USD/CAD pair is testing the upper boundary of an asymmetric triangle pattern, with a decisive breakout potentially confirming a bullish continuation. The pair found solid support at the 1.3910 level—its previous low—before staging a rebound, reinforcing the bullish technical setup.
However, momentum indicators paint a more cautious picture. The RSI has pulled back from the overbought zone, indicating slowing upward momentum, while the MACD has formed a bearish crossover at elevated levels. These signals suggest that bullish momentum may be waning, and the pair could struggle to sustain a breakout to fresh highs.
Resistance Levels: 1.4065, 1.4162
Support Levels: 1.3850, 1.3751
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