Technical analysis by melikatrader94 about Symbol PAXG: Buy recommendation (8/11/2025)

Hi guys! Key Technical Points: Ascending Channel: Price action has been moving within a well-defined ascending channel. Currently, the price has pulled back and is approaching the lower boundary of this channel. This lower boundary often acts as a support area where buyers might step in. Support Zone (Red Box): The red highlighted area, around $ 3,340-$ 3,350 USD, is a key support zone. This zone aligns w ith the lower boundary of the channel , adding more weight to the support. Price is currently testing this area, which could act as a springboard for the next upward move. Resistance Zone (Blue Box): The upper resistance zone between roughly 3,425 and 3,440 USD is a major target for bulls. This is a previous high area where sellers might re-enter the market. ------------------------------------------------------- Trade Idea: Long Position: Entry could be considered near the lower boundary of the channel and the red support zone (around 3,340-3,350 USD). Stop loss placement: Just below the red support zone to limit downside risk. Target: The upper resistance zone at around 3,425-3,440 USD.