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Published: 30 June 2026,06:06
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XAGUSD, H4:
Silver has been trading with limited directional conviction in recent sessions, with the metal largely moving sideways since last Thursday. The consolidation phase suggests that both buyers and sellers are currently waiting for a fresh catalyst before committing to the next significant move.
Despite the lack of clear price direction, momentum indicators are beginning to show early signs of improvement. The Moving Average Convergence Divergence (MACD) has formed a bullish crossover, or “golden cross,” which is often viewed as an early indication that bearish momentum is fading and that a potential trend reversal may be developing.
However, the bullish signal from the MACD has yet to be fully confirmed by other momentum indicators. The Relative Strength Index (RSI) remains below its midpoint level, suggesting that buying momentum is still relatively weak and that sellers continue to maintain a degree of control over the market. This divergence between the MACD and RSI indicates that the recovery remains tentative and requires further confirmation.
From a technical perspective, the key level to watch is the psychological resistance zone at $60.00. This level represents a significant hurdle for the bulls and is likely to determine whether the current consolidation phase evolves into a broader recovery.
A decisive break above $60.00 would strengthen the bullish case, confirming that buyers have regained momentum and validating the trend reversal signal generated by the MACD. Such a move could encourage further buying interest and pave the way for an extended recovery.
Conversely, failure to overcome the $60.00 resistance level would suggest that the broader bearish pressure remains intact, potentially keeping silver trapped within its current consolidation range or exposing it to renewed downside risks.
Resistance Levels: 61.60, 65.30
Support Levels: 56.70, 52.80
ETH, H4
Ethereum previously broke above its descending channel, signaling a potential trend reversal and raising expectations that the prolonged bearish phase could be coming to an end. The breakout initially attracted buying interest and suggested that bullish momentum was beginning to build.
However, the recovery has since encountered a significant obstacle near the $1,650 resistance zone. Repeated failures to overcome this key resistance level have limited the upside potential and prevented ETH from establishing a more convincing bullish trend. The rejection from this area indicates that sellers remain active and continue to defend higher price levels.
Recent price action suggests that Ethereum is now struggling to maintain support above its short-term ascending trendline. This development is noteworthy, as the uptrend support line has been a key pillar supporting the recent recovery. A break below this trendline would signal that bullish momentum is weakening and could mark the beginning of a broader corrective move.
Should ETH fall below the short-term uptrend support, it would provide an early bearish signal and increase the likelihood of renewed selling pressure. Such a move would suggest that the breakout above the descending channel may have failed to generate sufficient follow-through buying momentum.
Further confirmation of the bearish outlook would come from a decisive break below the immediate support level at 1,535.45. A move beneath this support zone would reinforce the negative bias, confirm a deterioration in market structure, and potentially expose Ethereum to a deeper decline.
Resistance Levels: 1825.00, 2132.05
Support Levels:1250.00, 993.00
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