16 October 2025,03:23
Chart The Market
16 October 2025, 03:23
ETH, H4:
Ethereum (ETH) is exhibiting signs of stabilization, finding consistent support above the $3,930 level despite trading within a broader structure of lower highs. This price action has formed a consolidative triangle pattern, suggesting a period of equilibrium between buyers and sellers.
A decisive breakout above the upper boundary of this triangle is the critical technical development to watch, as it would signal a potential reversal of the recent bearish bias and open the door for a new leg higher.
The momentum landscape is at an inflection point, reinforcing the pivotal nature of the current price level. Both the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) are testing key thresholds—the mid-level and zero line, respectively. A concerted bullish break by both indicators above these levels would provide strong confirmation that momentum is shifting in favor of the buyers, aligning with a bullish price breakout to solidify a trend reversal signal. The near-term trajectory for ETH therefore hinges on a conclusive move that synchronizes both price and momentum.
Resistance Levels: 4073.00, 4268.60
Support Levels: 3857.00, 3596.20
GBPUSD, H4
The GBPUSD pair has established a significant technical foundation for a bullish reversal, forming a clear double-bottom pattern at the 1.3250 support level. This “W” pattern suggests that the prior downtrend has exhausted itself and indicates a potential shift in market structure.
However, the nascent bullish move now confronts a critical test as it approaches a substantial liquidity zone, which is expected to pose strong resistance. The pair’s ability to break through and sustain gains above this zone is paramount; a failure to do so could reactivate the bearish bias and lead to a re-test of lower support levels.
Momentum indicators currently bolster the case for upward movement. The Relative Strength Index (RSI) is climbing towards overbought territory, reflecting strong buying pressure, while the Moving Average Convergence Divergence (MACD) is poised for a bullish crossover above its zero line. This alignment suggests building bullish momentum. The immediate directional bias will be determined by the upcoming battle at the resistance zone, making it a critical make-or-break level for the bulls.
Resistance Levels: 1.3535, 1.3650
Support Levels:1.3290, 1.3160
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