Gold token XAUT has been falling for weeks, but I think this area is worth watching. 👀
Look at the daily chart. Price dropped from the 4,679 high in a clear downtrend. Then it tapped 3,873 and buyers stepped in right away. That low sits inside the green box I marked: roughly 3,865 to 3,960.
It's not a random spot. Back in the summer, price bounced from around 3,960 a few times too. So the same area has now been defended more than once.
Price is around 4,037 now, just above the zone. I'm not saying it will go straight up. The bigger trend is still down, and bounces like this can fail. But if buyers keep defending this box, a move higher from here is possible, probably with a few pullbacks on the way (that's why my arrow isn't straight).
What I'm watching:
✅ Daily close above 4,113 = buyers getting stronger
❌ Daily close below 3,865 = zone broken, idea is wrong
Simple as that. If it breaks, I'm out of the idea and I'll say so.
Do you see this as a real demand zone or just a dead cat bounce?
Not financial advice.
$XAUT
Look at the daily chart. Price dropped from the 4,679 high in a clear downtrend. Then it tapped 3,873 and buyers stepped in right away. That low sits inside the green box I marked: roughly 3,865 to 3,960.
It's not a random spot. Back in the summer, price bounced from around 3,960 a few times too. So the same area has now been defended more than once.
Price is around 4,037 now, just above the zone. I'm not saying it will go straight up. The bigger trend is still down, and bounces like this can fail. But if buyers keep defending this box, a move higher from here is possible, probably with a few pullbacks on the way (that's why my arrow isn't straight).
What I'm watching:
✅ Daily close above 4,113 = buyers getting stronger
❌ Daily close below 3,865 = zone broken, idea is wrong
Simple as that. If it breaks, I'm out of the idea and I'll say so.
Do you see this as a real demand zone or just a dead cat bounce?
Not financial advice.
$XAUT
