Chart the Market (05/06/2025)

ETH, H4: 

Ethereum (ETH) has broken out decisively from its recent consolidation range, which had previously held near the $2,500 support level. The sustained move above the pivotal $2,580 mark suggests a potential trend reversal, reinforcing the case for renewed upward momentum. This breakout gains further credibility from improving technical indicators, signaling a shift in market structure.

The Relative Strength Index (RSI) has climbed above the 50 midline, demonstrating strengthening buying pressure after a period of equilibrium. Meanwhile, the Moving Average Convergence Divergence (MACD) has completed a bullish crossover above the zero line, confirming that positive momentum is accelerating. These developments collectively suggest that ETH may be transitioning from consolidation to a new bullish phase.

Resistance Levels: 2750.00, 3050.00

Support Levels: 2455.00, 2080.00

Nasdaq, H4

The Nasdaq Composite has delivered a decisive technical breakout, surpassing its consolidation range of 21,100 to 21,650 to reach a fresh three-month high. This upward resolution suggests a resumption of the index’s broader bullish trend, reinforced by its established pattern of higher lows—a classic characteristic of a healthy uptrend.

The momentum indicators further validate this constructive outlook. The Relative Strength Index (RSI) has maintained its position above the 50 midline, demonstrating sustained buying pressure without yet reaching overbought territory. Meanwhile, the Moving Average Convergence Divergence (MACD) has successfully defended its position above the zero line after a brief test lower, confirming that bullish momentum remains intact.

The Nasdaq’s ability to sustain this breakout could set the stage for an extended rally, particularly if supported by forthcoming earnings reports and stable macroeconomic conditions. However, given recent volatility, prudent risk management remains essential even in this bullish setup.

Resistance Levels: 22,200.00, 23,550.00

Support Levels: 21,000.00, 20,180.00