🚀 Update on PAXG Analysis: The Strength Lies in the Momentum!
By taking a deeper look at the technical indicators for PAXG, we find strong signals supporting the current rise:
1️⃣ Relative Strength Index (RSI):
The indicator shows a clear upward trend that aligns with the price. As long as it remains above the 50 level and moves toward the "overbought" area, this means that the bulls (buyers) are still in control of the market.
2️⃣ MACD Indicator:
We observe a positive crossover and an expansion in the histogram bars above the zero line, confirming the strength of the upward momentum and indicating that the current trend still has energy to continue.
3️⃣ Volume:
An increase in volume with long green candles (as shown in the chart) gives great credibility to breaking previous resistance levels.
In summary:
The technical indicators give a green light for the upward trend, but always monitor the support levels at the moving average (MA7) in anticipation of any quick profit-taking.
What are your upcoming targets for PAXG? 🎯
