- Gold confirmed breakout above channel, sparking rapid 550-pip rally.
- Price action aligns with 700–800 pip projection from analysts.
- $2,375 level now key focus as bullish momentum continues rising.
Gold (XAUUSD) has gained strong upward momentum after breaking out of a descending channel. The move has already delivered over 550 pips on the 1-hour timeframe. Bullish momentum continues to drive the price closer to the projected 700–800 pip target.
550-Pip Breakout Validates Bullish Chart Structure
Meanwhile, analyst Captain Faibik, gold confirmed a breakout from a descending channel, signaling a shift in the short-term trend. The breakout occurred on the 1-hour chart as XAUUSD moved above the upper trendline of the channel, which had contained the price during a prolonged downward trend.
Following the breakout, gold rallied sharply, adding over 550 pips. This price action aligns with Faibik’s earlier projection of a 700–800 pip move. The chart showed strong upward follow-through, confirming the breakout’s technical validity.
Technical momentum has remained firm since the breakout. Analysts highlight that the breakout zone now acts as a support level, with gold sustaining higher levels in the short term.
$2,375 Target in Focus as Momentum Persists
With the majority of the expected pip range already covered, the price now approaches the upper target zone near $2,375. Captain Faibik’s analysis pointed to this level as a key reversal or continuation zone following the breakout.
Price action remains bullish, but consolidation may occur near the $2,375 mark. Analysts emphasize the importance of intraday momentum and potential rejection at this level. Despite this, the strength of the breakout has reinforced bullish sentiment across short-term timeframes.
Volume patterns and momentum indicators support the move, suggesting continued interest from buyers. For now, the breakout setup continues to guide short-term trading strategies, with attention fixed on price behavior near key resistance.
Gold’s sharp reaction to the descending channel breakout confirms the importance of technical signals in identifying entry opportunities. The market continues to respect this structure, validating the breakout as a driving force behind the current rally.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
