Market Analysis of XAUUSDT:
It has transitioned from a strong uptrend to a correction phase following the blow-off top at 5,625. The strong decline indicates trend exhaustion, and currently, price is consolidating at 4,900, common during a distribution phase following a parabolic move.
The resistance levels are at 4,950-5,000 and 5,100+, while the major support is at 4,720; a break below will provide opportunities for a move to 4,540.
XAUUSDT
Διην.
4,684.83
-3.04%
