Technical analysis by LygridTrading about Symbol PAXG: Buy recommendation (6/5/2025)

Dear friends,To begin this post, I want you to understand why I want to connect with the global TradingView community. Simply put, I want to share the value I have and listen to more perspectives from all of you. This helps build a stronger, more united community. And what about you. What do you think of XAUUSD hovering around 3,370 USD?Let’s explore it together! XAUUSD is moving within a very clear ascending channel, with price action consistently respecting both the upper and lower boundaries. This indicates that the bullish structure is still being maintained and the buyers remain in control. The recent upward momentum further reinforces the belief that this trend could continue.The price is currently approaching a key support zone, marked by the lower boundary of the channel and a previous demand area. If this zone holds, it could offer a strong re-entry opportunity for buyers. The projected bullish target is 3,485 USD, which aligns with the upper boundary of the channel and represents a reasonable upside objective. This is the area I will closely monitor to find a trend-following buy entry, as long as bullish momentum remains intact.Of course, I do not dismiss the opposite scenario. Failure to hold this dynamic support may suggest that bullish momentum is weakening and could shift the short-term trend to neutral or bearish.Let me know your thoughts or if you see it differently!Good luck everyone