Chart the Market (07/08/2025)

ETH, H4: 

Ethereum (ETH) traded in a relatively sideways manner following a rebound after briefly dipping below its critical support level near the $3,555 mark. The successful recovery and sustained price action above this pivotal level suggest a bullish bias, as the recent pullback appears to have completed with ETH rebounding from a three-week low.

If ETH continues to post higher highs, it would further reinforce the bullish outlook. Momentum indicators are also turning constructive—the RSI is gradually approaching the overbought zone, while the MACD is poised to cross above the zero line. Both indicators support the view that bearish momentum has faded, aligning with a potential bullish continuation for ETH.

Resistance Levels: 3760.00, 3993.00

Support Levels: 3555.00, 3373.00

XAUUSD,  H4

Gold has been lacking clear direction after rebounding from its weekly low, with prices consolidating over the past few sessions. Despite the sideways movement, the overall bias leans bullish, as the precious metal recently broke above the 68.2% Fibonacci retracement level near the $3,368 mark—signaling renewed upside interest.

Adding to the bullish case, the 20-day Simple Moving Average (SMA) has crossed above the 50-day SMA, reinforcing the potential for a bullish pivot. A breakout above the current consolidation range would confirm bullish momentum and open the door for further gains. Conversely, a break below the range could indicate a bearish reversal.

On the technical front, the RSI remains elevated, suggesting continued buying strength. However, the MACD has recently formed a bearish crossover above the zero line—a potential early warning of trend exhaustion. Traders should watch closely for a decisive breakout in either direction for clearer trend confirmation.

Resistance Levels: 3400.00, 3435.00

Support Levels: 3362.00, 3320.00