XAU/USD continues its strong rally, breaking key resistance levels
Gold (XAU/USD) surged to a new all-time high near $3,900, extending its powerful bullish momentum from September’s rally. The move highlights ongoing investor demand for safe-haven assets amid global economic uncertainty and volatile equity markets.
The chart shows gold’s sustained uptrend, with price action forming higher highs and higher lows since early September. After consolidating briefly around the $3,660 support zone, gold broke through resistance at $3,760–$3,780 before climbing to a fresh peak at $3,895.
BITX Analysts point out that this sharp rally has kept gold closely aligned with its ascending trendline, showing strong buying interest on every dip. If bulls manage to secure daily closes above $3,900, the path could open toward the next psychological milestone at $4,000.
“Gold’s momentum remains firmly intact. With support zones consistently holding, the breakout above $3,800 confirms the strength of this trend,” one of BITX market analyst explained. “Unless we see a sharp reversal, traders will likely aim for the $4,000 region in the short term.”
Key support and resistance levels
- Immediate support: $3,760–$3,780
- Stronger support zone: $3,660
- Upside target: $4,000 psychological resistance
In the event of a pullback, traders will closely watch whether gold can defend the $3,760 area, which has now flipped into support. A sustained break below this level could expose the market to a correction toward $3,660.
With gold now trading near record levels, investor sentiment remains bullish. The breakout above $3,800 confirms strong demand, while the $4,000 mark is emerging as the next critical target. Unless macroeconomic conditions shift significantly, gold’s long-term uptrend appears intact.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.