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16 July 2025,09:00

Chart The Market

Chart the Market (16/07/2025)

16 July 2025, 09:00

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XAUUSD, H4: 

Gold extended gains after breaking out of its downtrend channel near the $3,325 level, climbing roughly 1.5% to post its highest price in July. However, signs of fading bullish momentum are beginning to emerge, with recent price action forming a lower-high pattern—raising concerns over the sustainability of the uptrend.

The precious metal is now testing a critical support level near $3,320. A failure to hold above this threshold could break the current bullish structure and trigger a potential bearish reversal.

Momentum indicators are also flashing early warning signs. The Relative Strength Index (RSI) has retreated below the midline without breaching the overbought zone, while the MACD has formed a bearish crossover and is trending toward the zero line. This confluence suggests a weakening bullish bias and the risk of a deeper pullback if support fails to hold.

Gold traders will closely monitor price behavior around the $3,320 zone for confirmation of trend continuation or reversal.

Resistance Levels: 3390.55, 3443.60

Support Levels: 3298.45, 3242.00

ETH,  H4

Ethereum extended its rally, decisively breaking above the key psychological resistance at $3,000 and reaching a multi-month high of $3,151.30—its highest level since February. The breakout, followed by the formation of a higher-low price pattern, underscores a continued bullish bias for the second-largest cryptocurrency.

Technical support is now being closely watched near the $3,040 level. A sustained hold above this level would reinforce the bullish outlook and could pave the way for a fresh leg higher.

While the RSI has pulled back from overbought territory, it remains firmly above the midline, indicating ongoing positive momentum. Meanwhile, the MACD, although edging lower, is showing signs of a potential golden cross while staying above the zero line—suggesting that bullish momentum is still intact.

ETH bulls will look for consolidation above $3,040 to confirm the breakout, with eyes set on the next resistance levels in the $3,200–$3,300 zone.

Resistance Levels: 3510.20, 4017.80

Support Levels: 2724.00, 2481.85

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