Gold is approaching a decisive moment as price action nears a key resistance level, according to crypto and macro analyst Michaël van de Poppe.
In a recent update, van de Poppe said he remains focused on gold’s current structure, calling it the most important chart to watch in the near term.
New All-Time High Seen as Immediate Test
Van de Poppe expects gold to attempt a new all-time high in the coming days, framing the move as a major test for the broader market. The chart highlights price pressing into a clearly defined resistance zone, with liquidity building just above current levels.
He noted that a breakout above this area would be significant, but warned that the reaction at these highs will matter more than the move itself.
Risk of Sharp Rejection and Sell-Off
While upside momentum remains intact, van de Poppe cautioned that a liquidity sweep followed by a harsh rejection could trigger a meaningful sell-off. Such a move would suggest that buyers failed to sustain strength at elevated levels, potentially marking a local top.
The structure shown on the chart suggests that a large amount of liquidity is positioned to be tested, increasing the probability of volatility around this zone.
Timing Aligns With Macro Expectations
Van de Poppe also pointed to the broader macroeconomic context, suggesting that this month or January could represent a temporary peak for gold. He added that a major macroeconomic event typically coincides with such market highs.
According to his view, financial system liquidity is likely to expand further in the near term, which could push gold toward its peak in the coming weeks before conditions change.
Liquidity Expansion Driving the Final Phase
The analysis emphasizes that growing liquidity remains the primary force behind gold’s advance. As liquidity continues to widen across markets, van de Poppe believes gold is entering the final phase of its current move, where reactions become increasingly decisive.
Whether gold breaks cleanly higher or faces a sharp rejection at resistance is expected to set the tone for the next major directional move.
