$PAXG is currently undergoing a strong 4H correction after failing to sustain the rally toward the $4,640–$4,680 region. The rejection was aggressive, with a large bearish move sending price from above $4,600 back toward $4,460 in a relatively short sequence.
That reaction shows clear profit-taking and renewed selling pressure near the recent highs. However, the current decline is bringing PAXG closer to a much more important technical area.
The $4,360–$4,380 region stands out as the key demand zone on the chart. This is where the previous expansion began, meaning buyers have already demonstrated their willingness to defend this area. A return into the zone followed by a strong reaction could create the base for another recovery.
The first confirmation would be a reclaim of $4,500. If momentum continues from there, PAXG could move back toward $4,600 before challenging the $4,680 target marked on the chart.
The bearish alternative is straightforward: if the demand zone breaks cleanly, the current structure loses its bullish foundation and further downside becomes more likely.
Right now, $PAXG is approaching its most important test of the correction. #PAXG #YenPasses160PerDollarToOneMonthLow
That reaction shows clear profit-taking and renewed selling pressure near the recent highs. However, the current decline is bringing PAXG closer to a much more important technical area.
The $4,360–$4,380 region stands out as the key demand zone on the chart. This is where the previous expansion began, meaning buyers have already demonstrated their willingness to defend this area. A return into the zone followed by a strong reaction could create the base for another recovery.
The first confirmation would be a reclaim of $4,500. If momentum continues from there, PAXG could move back toward $4,600 before challenging the $4,680 target marked on the chart.
The bearish alternative is straightforward: if the demand zone breaks cleanly, the current structure loses its bullish foundation and further downside becomes more likely.
Right now, $PAXG is approaching its most important test of the correction. #PAXG #YenPasses160PerDollarToOneMonthLow
