5.22 Early Ze Gold Morning Analysis

Last night, the downtrend intensified, breaking through key support levels one after another. After the low touched around 4488, the bulls began to stage a rebound, and the high reached 4559. Then, price began to trade sideways and drift lower.

From the technical chart perspective, yesterday’s candlestick printed a bullish long lower shadow. After the price probed down and found stability, the bottoming-out and stabilization signals were clear. On the daily timeframe, the trend of the short-term moving averages is gradually shifting; bearish sell-off pressure continues to weaken. MACD bearish momentum keeps shrinking, and the fast and slow lines are about to form a golden cross, while bearish strength continues to fade. On the four-hour chart, price made a new recent low, yet the technical indicators did not move down in parallel, forming a bottom divergence pattern.

The short-term moving-average combination shows a bullish alignment. The gold price is steadily supported by the moving averages. The RSI indicator has moved out of the oversold zone and is recovering steadily, with bullish strength gradually strengthening. The market has the potential to continue rebounding and rising.

Buy around 4495-4510, aiming higher for 4540-4560.
#HYPE再度领涨 $BTC $ETH