Chart the Market (02/04/2026)
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Chart the Market (02/04/2026)

Published: 2 April 2026,01:47

Published: 2 April 2026,01:47

Chart The Market

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ETH, H4:                                                               

Ethereum is showing signs of a short-term bullish reversal after a sharp decline in late March 2026. Following a steep sell-off that took price down to the 1,970 level, the pair has staged a strong recovery, climbing steadily with a series of higher highs and higher lows. Price is currently trading near 2,136, having broken above the key 2,000 psychological level and the blue horizontal support-turned-resistance at 2,015. The latest green candles indicate sustained buying momentum in the very short term.

Momentum indicators are supportive of the ongoing recovery. The RSI stands at 65, comfortably in bullish territory and trending higher, showing that buyers are gaining strength without yet reaching overbought conditions. The MACD has crossed bullishly, with the histogram expanding positively and both the MACD line and signal line pointing upward, confirming building bullish momentum. This positive divergence from the March lows adds confidence to the current up-move.

Overall, the 4H technical outlook for ETH/USD is bullish with positive momentum. The pair has broken out of its recent downtrend and is now in a clear short-term uptrend. Crypto-specific news flow, Bitcoin correlation, and broader risk sentiment remain important catalysts to watch in the coming sessions.

Resistance Levels: 2165.00, 2390.00

Support Levels: 2015.00, 1905.00

USDCAD,  H4

USDCAD pair has been in a strong uptrend since mid-March 2026, climbing steadily from the lows near 1.3595 to a recent high of approximately 1.3985. Price action shows a series of higher highs and higher lows, with a particularly sharp rally between March 11 and March 31. However, the latest candles indicate a short-term pullback, with USDCAD retreating from the 1.3985 peak and currently trading near 1.3875.

Momentum indicators are mixed but leaning slightly bearish in the very short term. The RSI stands at 47, having declined from overbought levels above 70 in late March and now sitting near the neutral 50 level. This suggests that upward momentum has cooled off after the extended rally. The MACD remains positive overall, with the histogram still above zero, but it has started to flatten and shows early signs of contraction, indicating that bullish momentum is losing steam.

Overall, the 4H technical outlook for USDCAD is bullish but overextended, with signs of a healthy corrective pause developing. Canadian economic data and USD strength will be key drivers for the next directional move.

Resistance Levels: 1.3910, 1.3985

Support Levels: 1.3780, 1.3730

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