Technical analysis by TotoshkaTrades about Symbol PAXG: Sell recommendation (5/3/2025)

On the 4-hour chart, GOLD has broken below the lower boundary of a pennant pattern on increasing volume, signaling potential for continued downside. Despite this, the asset remains within the confines of a bullish megaphone structure, whose boundaries are still intact. The EMA indicators (20/50/100/200) are aligned in a bearish sequence, exerting downward pressure. The price is consolidating below the $3295 level and is approaching key demand zones.Near-Term Downside Targets:- $3177 — Intermediate demand zone- $3063 — Major support levelTechnical Highlights:- Breakdown from bearish pennant confirmed by volume- Price action continues within the bullish megaphone pattern- EMA 20/50/100/200 positioned above price, indicating overhead resistance- Volume increases observed during downward moves- Key buyer interest zone: $3060–$3080- Resistance zone: $3295–$3305Following the breakdown from the consolidation pattern, gold is exhibiting a downward trajectory targeting support zones at $3177 and $3063. The bearish scenario is technically confirmed as long as the price remains below $3295. However, the movement within the bullish megaphone structure warrants close monitoring for potential shifts in momentum.