$PAXG Long Liquidation Update

Gold-backed crypto PAX Gold (PAXG) witnessed a long liquidation worth $9.96K at $4,092.82, marking a moment of pressure for bullish traders. This move aligns with the recent dip in spot gold prices, showing the token’s strong correlation to macro sentiment.

Currently, PAXG is testing its immediate support around $4,080, with resistance sitting near $4,145. The liquidation zone could attract opportunistic buyers looking for discounted entries.

Technical Outlook:

Support: $4,080

Resistance: $4,145

Buy Entry: $4,085–$4,100

Sell Target: $4,140–$4,160

Stop Loss: Below $4,065

Market View:

Despite short-term selling pressure, the broader trend remains stable as long as PAXG holds above $4,050. A decisive break above $4,145 could reignite bullish momentum toward $4,200.

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