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21 July 2025,04:04
Daily Market Analysis
21 July 2025, 04:04
ETH, H4:
Ethereum (ETH), the world’s second-largest cryptocurrency by market capitalization, has surged more than 50% in July, reaffirming its position as the frontrunner among altcoins. The latest price action shows ETH continuing its strong bullish trajectory, characterized by a breakout from a consolidation range—signaling a potential continuation of its uptrend.
The bullish bias is well supported by momentum indicators. The Relative Strength Index (RSI) has remained in overbought territory for four consecutive sessions, while the MACD hovers at elevated levels, underscoring the strength of buying pressure.
With ETH now approaching its all-time high near the critical $4,000 resistance level, a decisive breakout above this threshold could serve as a powerful bullish signal. However, given the magnitude of recent gains, traders should remain cautious of a potential technical pullback, which often follows fresh highs in overheated markets.
Resistance Levels: 3978.00, 4770.00
Support Levels: 3330.00, 2812.00
EURGBP, H4
The EUR/GBP pair, which had been trading within a well-defined uptrend channel marked by a series of higher highs and higher lows, is showing signs of fatigue after testing a three-month high near the 0.8696 level.
Recent price action suggests a potential trend reversal, as the pair struggles to hold above its immediate support at 0.8650. A sustained break below this level may confirm a bearish tilt and expose the pair to further downside risk.
Momentum indicators reinforce the weakening bullish bias. The MACD is forming a lower-high structure, diverging from the higher-high price pattern, while the RSI has slipped below the midpoint—both pointing toward a possible shift in trend dynamics.
Unless the pair regains traction above key support, EUR/GBP appears increasingly vulnerable to a corrective pullback in the near term.
Resistance Levels: 0.8717, 0.8800
Support Levels: 0.8650, 0.8560
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