Technical analysis by Rahmatullayev_Halilulloh about Symbol PAXG: Sell recommendation (3/13/2025)

XAUUSD XAU/USD is currently trading within a descending channel, showing a clear downtrend. The price has been respecting the channel boundaries, and we are now approaching the upper limit of this channel.The upper boundary of the channel is near the 3000 level, which is often considered a psychological resistance zone by many traders. This level is significant because it tends to attract market reactions, either causing the price to reverse or break through.If the price tests this level and shows signs of resistance, a potential reversal may be expected, with the downtrend continuing. However, if the price breaks above 3000, it could signal a shift in momentum and lead to further upside movement.Key Points to Monitor: • 3000 level as psychological resistance. • Watch for signs of rejection or a breakout above this level. • Closely observe price action for potential entry points based on the reaction to this level.⸻P.S. If you found this analysis helpful, don’t forget to subscribe for more updates and insights. Stay informed, stay ahead!