Technical analysis by MrHenryFx about Symbol PAXG: Buy recommendation (3/13/2025)

This 1-hour chart of Gold (XAU/USD) illustrates a successful breakout above a key resistance zone, now acting as support. The price has formed an upward channel, confirming bullish momentum. A recent breakout from the resistance area (marked in red) has been retested as support, reinforcing the uptrend. The chart suggests potential price targets at $2,950 and $2,960, aligning with the current bullish structure. Traders should watch for sustained support above the breakout level to confirm further upside movement.✅ Breakout & Retest: Gold broke above $2,930 resistance, retested it as new support, and continues upward.📈 Uptrend: The price is moving in a rising channel, showing strong bullish momentum.🎯 Targets:$2,950 (First target)$2,960 (Next target)🔎 Key Support: $2,930 – If price stays above, the uptrend remains strong.⚠️ Risk: A drop below $2,930 could lead to a pullback towards $2,900.👉 Conclusion: Bulls are in control. As long as $2,930 holds, the price could reach $2,950-$2,960.NOTEWrite a comment with your altcoin + hit the like button, and I will make an analysis for you in response. Trading is not hard if you have a good coach! This is not a trade setup, as there is no stop-loss or profit target. I share my trades privately. Thank you, and I wish you successful trades!trade activeCongratulation Target reached Successfully