$PAXG /USDT Showing Downward Trend After Testing Highs
Hey everyone,
Let's take a look at the $PAXG /USDT chart. The current price of PAX Gold is at $3,289, showing a decrease of -0.75% recently.
Looking at the last 24 hours, PAXG reached a High of $3,331 and a Low of $3,280. The 24h Volume stands at 3,758.68 PAXG, which is equivalent to 12.42M in USDT.
The chart shows that after testing the $3,331 high, the price has been trending downwards. We can see a series of red candles indicating selling pressure. The price is currently near the 24-hour low, suggesting potential for further bearish movement if this level is broken.
Traders will likely be watching the $3,280 level closely as a key support. If the price breaks below this, we might see a further decline. On the upside, a break above the recent highs would be needed to signal a potential trend reversal.
Key points to observe:
Resistance: The recent high of $3,331 is acting as a significant resistance level.
Support: The 24-hour low of $3,280 is a crucial support level to monitor.
Trend: The short-term trend appears to be bearish after the rejection at the high.
What are your thoughts on PAXG's current price action? Do you anticipate a break below the support, or do you see a potential for a bounce back up? Share your analysis!
