Technical analysis by Julian_Forex about Symbol PAXG: Sell recommendation (3/25/2025)

Gold (XAUUSD) continues to trade within a clear descending channel on the 1-hour chart, and bearish pressure is building once again.The EMA 34 has turned downward, acting as dynamic resistance and signaling a shift in short-term trend direction. Each time price approaches the upper boundary of the channel or the EMA zone, strong selling pressure re-emerges — keeping the dominant downtrend intact.Currently, price is hovering around $3,010, struggling to break through the key resistance zone at $3,018–3,021. This area also aligns with a supply zone and the upper trendline, making it a high-risk rejection zone.If price fails to break above and forms a lower high, the next decline could push gold toward the support area around $3,006, with a potential move down to the channel target near $2,980.As long as the channel holds and the EMA 34 continues pointing downward, selling pressure remains in control. Buyers are advised to wait for a confirmed breakout above the trendline before considering long positions.