Chart the Market (06/08/2025)
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6 August 2025,06:27

Chart The Market

Chart the Market (06/08/2025)

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6 August 2025, 06:27

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ETH, H4: 

Ethereum (ETH) staged a sharp recovery after breaching the critical $3,555 support level, a move that initially signaled a bearish breakdown. However, the quick rebound and subsequent stabilization above this pivotal zone suggest the prior dip may have been a false breakdown, reigniting prospects for a bullish trend reversal.

Importantly, ETH continues to trade above its long-term ascending trendline established since mid-June, indicating the broader uptrend remains intact. Holding above the $3,555 level could solidify bullish sentiment and pave the way for further upside in the sessions ahead.

Momentum indicators are currently neutral—RSI is hovering around the 50 level, while the MACD remains flat near the zero line—signaling that conviction on either side has yet to strengthen meaningfully.

A sustained move above the $3,555 threshold will be closely watched by market participants as a potential confirmation of bullish continuation.

Resistance Levels: 3894.00, 4180.00

Support Levels: 3320.00, 3052.00

XAGUSD,  H4

Silver has posted four consecutive months of gains since May, recently reaching its highest level in over a decade. The precious metal has since pulled back by more than 7% from its recent peak of $39.52, driven by a wave of profit-taking. Despite the correction, a breakout above its previous downtrend channel points to a potential bullish trend reversal.

Currently, silver is consolidating following a technical rebound. As long as the price holds above the short-term support near $37.30, the broader bullish trend may remain intact.

Momentum indicators reinforce the bullish outlook: the RSI is rising and nearing overbought territory, while the MACD is poised to break above the zero line—suggesting that the prior bearish momentum has faded.

A firm hold above key support levels could validate the continuation of silver’s bullish trajectory in the near term.

Resistance Levels: 38.40, 39.10

Support Levels: 37.70, 36.80

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