Platinum (XPT) Rides a Tailwind

The Platinum market appears to have attracted a significant level of participation. As a result, the price of the metal has increased considerably over the week. Judging by the most recent closing session, it seems that bullish sentiment outweighs bearish sentiment.

Key Price Levels

Resistance Levels: 1,150, 1,200, 1,250

Support Levels: 1,100, 1,050, 1,000

Platinum Bulls Set Their Eyes on the 1,150 Mark

Since price action in the XPT/USDT market resurfaced above the 1,000 level, the overall trend has been more upward-focused. As a result, the market has quickly recovered to the upside. For most of the previous week, price action continued its upward climb, and momentum strengthened significantly toward the week’s close—as indicated by the last bullish price candle on the chart.

Throughout this period, the Bollinger Bands have remained well-expanded, while the indicator itself shows an upward slope, signaling strong bullish momentum. Similarly, the Smoothed Rate of Change (SROC) indicator line is also trending upward above the equilibrium level, reinforcing the idea that buying pressure remains dominant and further price increases may be on the horizon.

XPT Traders May Anticipate an Upward Rebound

The 4-hour chart of the Platinum market also confirms the bullish outlook. The latest price candle breaks above the upper limit of the Bollinger Bands, technically indicating that the final sessions of Friday’s trading were highly profitable. The metal continues to trade above key levels as a result.

Meanwhile, the SROC indicator line is climbing through the equilibrium level, with its terminal point now green—signaling growing bullish momentum. Therefore, traders can set their sights on the $1,150 mark, with subsequent targets at $1,175 and $1,200.

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