$XAUT is Approaching a Potential Demand Zone, is This the Opportunity?
Tether Gold is trading around $3,933 down 0.44% after sharp rejection from local high $3,962 but chart is starting to show a setup worth watching for me.
Live Bybit:
$XAUT $3,922.36 -0.84% | H $3,961.93 L $3,889.00 | Turnover $32.72M
What stands out on 1h, RSI 6 is at 57.71. Short term momentum is cooling off from overbought but still holding in bullish territory. Price is currently testing 0.236 Fib at $3,922.87 looking for a base after recent drop.
For me $3,899 is the key level buyers need to defend. It aligns with 0.618 golden pocket of recent swing. $3,951 is EMA200 on top, recovery above this would be shift in structure.
MACD is showing fresh bearish crossover with negative histogram so short term selling pressure is still present. I am not buying just because it is retracing.
My plan is simple. I am watching $3,900 to $3,920 zone for signs of buying pressure and confirmed bounce off this support cluster. If XAUT holds this area and reclaims $3,951 a short term rebound toward $3,962 high and beyond becomes possible. However clear break below $3,899 would weaken bottom buying setup and open door to deeper retest of $3,875 lows.
Opportunity is not simply buying because price is retracing. It is buying when market starts confirming sellers are losing control at key level.
Would you accumulate XAUT near $3,920 or wait for clear breakout above $3,951 EMA200?
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$XAUT to trade this demand zone
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