Gold just went through a sharp shakeout. Today, the XAU price dropped nearly $300, catching many traders off guard. But not everyone believes the move marks the start of a deeper slide.
Analyst Shirley argues that the decline may already be complete and expects a rebound into the end of the week. At the center of her view is one key area: $5,000–$5,050.
Looking at the chart, gold has been trading inside a rising channel for weeks. Each pullback has found support along the lower boundary of that channel before pushing to new highs. The recent drop sent the Gold price back toward that lower trendline again, right into the $5,000 region.
That area lines up with previous reaction zones and the lower structure of the channel. So far, buyers have stepped in there repeatedly. If this pattern continues, the latest dip could simply be another higher low within an ongoing uptrend.
Source: X/Shirley
Here’s Where Gold Price Could Go
Shirley is looking to add gold between $5,000 and $5,050.
Her thinking is clear. If buyers defend that pocket, price could work its way back toward the top of the rising channel, which comes in around $5,350 to $5,400. That’s the area gold has struggled with before.
If it breaks above that ceiling and stays there, new highs would be within reach.
But if the gold price slips under $5,000 and can’t get back above it, the setup starts to crack. In that case, a slide toward the mid-$4,800s would be on the table.
Even with the recent swings, she hasn’t changed her bigger view. She still sees gold pushing toward $6,300 this year, as long as the wider environment, rising prices, global tensions, and central bank moves, keeps supporting hard assets.
_****3 Stocks To BUY NOW In March 2026**
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Ethereum Activity at All-Time Highs Due to Mass Capitulation - U.Today
Ethereum's network shows high activity, surpassing 2021 metrics, but this surge is due to investors selling rather than genuine demand. Liquidity is declining as users withdraw capital to exchanges, signaling potential challenges ahead.
UToday2h ago
Dogecoin Tests $0.090 Support After 3.4% Drop as Traders Watch Key Price Range
Dogecoin is currently trading at $0.09061 which is a drop of 3.4 percent, and the price is close to the important level of $0.09011 support.
The chart indicates a series of tests of the support zone of $0.089-$0.090, and the closest resistance is represented by $0.09353.
A hold of
CryptoNewsLand3h ago
PEPE Price at $0.053259 as Tight Range and Falling Volume Shape Short-Term Market Activity
PEPE was traded at $0.053259 and has recorded a 3.0 percent fall in value but it is within a thin band of support and resistance.
The market exhibited a volume of 235.15M in 24 hour trading, which is a decline of 19.16% reflecting less trading activity.
Technical indicators are not
CryptoNewsLand3h ago
XRP ETF Performance Praised as 'Really Impressive' by Bloomberg - U.Today
XRP ETFs have shown resilience amid a 45% price drop, attracting significant capital despite typical market behavior. Bloomberg's Eric Balchunas highlights strong investor support. Despite recent outflows, the funds retain substantial assets, indicating community dedication.
UToday4h ago
Crypto Shines Amid Middle East Oil Shock and Market Selloff
Bitcoin remains stable amid market turmoil fueled by rising oil prices and inflation, outperforming traditional assets. Its reduced leverage limits forced selling, attracting long-term investors eyeing potential gains in a volatile landscape.
CryptoFrontNews4h ago
XRP Holds $1.34 Support While Leverage Heatmap Highlights $1.30 Risk Zone
XRP is trading at $1.36 in a tight range of support at $1.34 and resistance at $1.37.
The heatmap data indicates that there is a huge amount of long positions in the range of $1.30.
Should prices fall to around $1.30, long positions with high leverage in this region might
CryptoNewsLand4h ago
