Price explosion in $PAXG ! Is it time for harvesting or retreat?
The PAXG (Digital Gold) currency against USDT has seen a strong rise of +1.71% over the past 24 hours, reaching $3,449.77, breaking through the upper limit of the Bollinger channel with the RSI indicator in a severely overbought area. Will the upward journey continue or are we nearing a correction?
Technical analysis of PAXG/USDT movement:
Highest price in 24 hours: $3,449.80
Lowest price: $3,385.13
RSI (6): at 89.57 → above 70 = very strong overbought.
Bollinger Bands: The upper limit ($3,440.50) has been broken upward.
MACD: In a positive and strong trajectory with noticeable divergence.
Trading volume: Continuously increasing, supporting the upward momentum.
Suitable trading strategy (Short-term Scalping or Conservative Reversal):
Scenario 1 - Following the upward momentum:
Entry point (Breakout Buy): After breaking $3,450 with a confirmation candle.
First target (TP1): $3,485
Second target (TP2): $3,510
Stop loss (SL): Return below $3,420
Scenario 2 - Entry with a potential correction:
Entry point (Pullback Buy): $3,400 – $3,420
First target: $3,450
Second target: $3,480
Stop loss: Break below $3,370
Risk alert:
RSI above 85 indicates the possibility of a correction at any moment.
It is preferable to enter after confirming the close or using small-sized contracts (low leverage).
Do you think PAXG will continue its rise to new historical levels, or is a technical correction inevitable? Share your insights in the comments 👇