$XPT USDT (Platinum) Technical Analysis
#Platinum is currently in a corrective phase after its early-year rally. The daily chart shows it is testing critical long-term support levels.
Current Price: ~$2,649
1D Trend: Bearish/Consolidating. The price is trading below its 50-day EMA ($2,683), which is now acting as immediate overhead resistance.
Indicators:
RSI (14): 37.5 (approaching the oversold zone of 30). This suggests the selling pressure is reaching a climax, and a relief bounce could be imminent.
MACD: The histogram is negative, showing bearish momentum, but the lines are starting to flatten—a sign that the downward trend is losing steam.
Key Levels:
Immediate Support: $2,600 (psychological level and confluence with the 200-day SMA).
Major Resistance: $2,683 (50-EMA) and $2,713 (100-EMA).
4H Outlook: Look for a "Double Bottom" formation near $2,600. If the 4H RSI diverges (makes a higher low while price makes a lower low), it’s a strong signal for a long entry targeting $2,750.
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