$PAXG is a gold-backed cryptocurrency that follows the market price of physical gold. Recently, $PAXG has experienced selling pressure due to weakness in the gold market. Buyers are waiting for strong support before entering new positions.
Key technical levels:
Support 1: $3,850
Support 2: $3,800
Resistance 1: $3,950
Resistance 2: $4,000
Bullish scenario: If $PAXG holds above $3,850 and breaks $3,950, a recovery toward $4,000 may follow.
Bearish scenario: A breakdown below $3,850 could push the price toward $3,800.
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