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Today Technical Analysis: Gold Prices Drop To $3,310 As the US Dollar Strengthens

August 20, 2025, 08:10

Gold Technical Analysis

After dropping to $3,311, gold is now rebounding toward $3,325. The candlesticks are forming higher lows, and the short moving averages MA(5) and MA(10) are starting to curl upward. MACD is showing a bullish crossover, which supports upward momentum. This indicates buyers are stepping back in after the recent correction.

If momentum holds, and we see 1H candles close above the 30-period moving average, gold may continue higher toward the $3,340–$3,350 zone.

Gold (XAUUSD) 1H Chart

Resistance$3,330$3,345$3,367
Support$3,317$3,308$3,292

Bitcoin Technical Analysis

Bitcoin has been under pressure for the past few days, with the hourly chart showing a clear downtrend from its recent all-time high down to the current levels below $113,000. The moving averages (MA 5, 10, 30) are all pointing downward, with price trading below these averages, confirming bearish trend.

MACD shows a slight bullish crossover beginning. This suggests that selling pressure may be easing, and a short-term bounce could occur soon. However, momentum is still weak, so more confirmation is needed.

If Bitcoin fails to close above the 30-period moving average, the bearish pressure could persist.

Bitcoin (BTCUSD) 1H Chart

Resistance$114,430$115,900$117,000
Support$112,561$111,924$110,600

Nasdaq Technical Analysis

Nasdaq has been dropping since the beginning of the week, reaching a low of 23,293, and the hourly chart shows a strong sequence of red candles with no significant reversal signal yet.

The moving averages are trending down, with prices staying below, reflecting heavy selling pressure.

MACD remains deep in bearish zone with no bullish crossover yet. Unless buyers step in soon and push prices toward the 30-period moving average, Nasdaq risks extending losses further

Nasdaq 1H Chart

Resistance23,37423,46023,507
Support23,25423,17623,083
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