Technical analysis by TopGBanks about Symbol PAXG: Buy recommendation (8/12/2024)

The 30-minute chart shows a strong upward momentum, with the price currently trading above several key support levels. The recent breakout above $2,469.76 has paved the way for further gains, and the price is now targeting the psychological resistance level of $2,500.If the price continues to follow the projected path, we could see a short-term retracement to retest the $2,474.51 or $2,482.67 levels, providing potential entry points for traders. The overall trend remains bullish, and a sustained break above $2,500 could signal a continuation towards higher levels, with $2,505 and $2,510 being the next areas of interest.Traders should monitor for potential consolidation or pullbacks near $2,485, as this could serve as a launchpad for the next leg higher.