#DanielNadem That screenshot is the Binance spot chart for **PAXG/USDT** — Pax Gold paired against Tether. PAXG is a tokenized gold asset where each token is backed 1:1 by one fine troy ounce of physical gold stored in vaults (Paxos Trust handles the custody, with regular audits). So the price basically tracks the spot gold price in USD, with a tiny premium/discount sometimes from trading dynamics.
Price has been grinding higher lately, pushing from around 4,000-4,100 earlier in the month to test highs near 4,572. We've seen steady buying pressure with green candles stacking up, holding above the rising MAs (7, 25, 99 all sloping up nicely). Volume's decent for this pair, and the move feels like accumulation as gold itself pushes to new levels amid macro uncertainty.
**Market Read**
Watching the 4,550-4,570 supply zone right now—price just tagged the 24h high there and pulled back a bit. Momentum still favors buyers with higher lows intact and price respecting the shorter MAs as support. No real distribution signs yet; this looks like continuation if we hold above 4,500 cleanly.
Entry Point: 4,530 - 4,550 (long)
Target Points: TP1 4,600, TP2 4,650, TP3 4,720
Stop Loss: 4,480
**How it’s possible**
Gold's been strong, and PAXG follows it tightly without the wild swings of pure crypto. The recent sweep below 4,500 flushed some weak hands, but buyers stepped in quickly to reclaim structure—classic liquidity grab before continuation. As long as we don't lose the daily uptrend, these dips are just fuel for the next leg higher.
Trade the price action in front of you, not the headlines—patience pays.