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Published: 18 June 2026,06:12
Chart The Market
ETH, H4:
Ethereum saw its recent bullish rally lose momentum after approaching the 61.8% Fibonacci retracement level near $1,830, a key technical resistance zone that often acts as a barrier during corrective recoveries within a broader downtrend. The rejection from this level suggests that sellers remain active at higher prices, limiting ETH’s ability to extend its rebound.
Following the rejection, Ethereum has begun to form a lower-high price pattern, indicating that buying momentum is weakening and reinforcing the view that the cryptocurrency remains within its long-term bearish trajectory. The inability to break above the Fibonacci resistance level suggests that the recent recovery may have been a corrective move rather than the start of a sustained bullish reversal.
Momentum indicators are also aligning with the bearish outlook. The Relative Strength Index (RSI) has retreated from overbought territory, signaling that the strong buying pressure seen during the rebound is fading. This development suggests that bullish momentum is no longer as dominant as it was during the initial recovery phase.
Meanwhile, the Moving Average Convergence Divergence (MACD) has formed a bearish crossover at elevated levels and is now trending lower toward the zero line. This “death cross” is often viewed as an early indication that momentum is shifting in favor of the bears. Should the MACD continue its decline and move below the zero line, it would provide further confirmation that bearish momentum is strengthening.
Resistance Levels: 1826.00, 2132.00
Support Levels: 1535.45, 1258.60
XAGUSD, H4
Silver staged a strong technical rebound from its recent low near the $61.50 level, with the metal rallying sharply and breaking above the key psychological resistance level at $70.00. The move signaled a notable improvement in market sentiment and suggested that buyers had regained control following an extended period of weakness.
However, the bullish momentum appears to have eased after reaching the $70.00 region. Recent price action shows that silver has retreated by more than 4%, giving back part of its gains and filling the price gap that was created during the rapid advance. Gap-filling behavior is often considered a healthy corrective process, allowing the market to absorb previous excesses before establishing its next directional move.
From a technical perspective, the next key level to watch on the upside is the previous swing high at $71.52. A decisive break above this resistance would confirm renewed buying momentum and suggest that the current recovery remains intact. Such a breakout could pave the way for a continuation of the bullish rally and potentially expose higher resistance levels in the near term.
On the downside, the liquidity zone around $67.85 has become an important support area. As long as silver remains above this level, the broader recovery structure remains constructive. However, a failure to hold above this support zone would indicate that sellers are regaining control and could trigger a deeper correction.
Should silver break below $67.85, the metal may come under renewed selling pressure and decline toward its next key support level near $65.35. This area could serve as a potential stabilization zone for buyers and will likely be closely monitored by market participants.
Resistance Levels: 69.75, 73.70
Support Levels:65.35, 61.60
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