binanance

$PAXG (PAX Gold) is a unique asset in the crypto market, backed by physical gold, making it a digital asset. As a result, its price movement tends to directly follow the gold market.
Looking at the current chart (1D), the market structure has a bearish bias. The price is forming a lower high and lower low pattern, and it's trading below all the EMAs (7, 25, 99). In this kind of alignment, we can determine that sellers are in control of the market.