![IMG_20241214_110926.jpg](https://images.hive.blog/DQmeWeQFF9ZyAQL58XJV1cLX2khoLRswLQKDMD8rULTvdhi/IMG_20241214_110926.jpg)

Technical analysis for PAXG/USDT  on 14 Dec 2024 using the visible indicators and chart patterns:

### 1. **Price Action:**
   - **Current Price:** $2,674.
   - **Recent High:** $2,786, indicating resistance at this level.
   - **Recent Low:** $2,473, indicating support at this level.
   - The price is currently in a slight consolidation phase after a dip and a recovery, trading near the **EMA(25)**.

### 2. **Moving Averages:**
   - **EMA(7) (Yellow Line):** $2,660 — Tracks short-term trends and reflects that the price is marginally above it, suggesting weak bullish momentum.
   - **EMA(25) (Pink Line):** $2,647 — The price is slightly above this level, indicating medium-term support.
   - **EMA(99) (Purple Line):** $2,456 — Acts as a long-term support level. The price remains significantly above it, implying an overall bullish trend in the long run.

   **Analysis:** The alignment of the EMAs (7 > 25 > 99) suggests the trend is generally bullish, though recent price action shows a weakening momentum.

### 3. **Volume Analysis:**
   - Recent trading volume spikes suggest increased market activity, possibly linked to news or major moves. 
   - **Volume is higher during sell-offs**, hinting at bearish pressure during corrections.

### 4. **Relative Strength Index (RSI):**
   - **RSI(6):** 55 — This value is near the midpoint, indicating neutral momentum. Neither overbought nor oversold conditions are present, which supports the consolidation thesis.

### 5. **Support and Resistance Levels:**
   - **Support Levels:**
     - $2,647 (EMA 25 and recent price cluster).
     - $2,456 (EMA 99 and historical support zone).
   - **Resistance Levels:**
     - $2,786 (Recent high).
     - $2,802 (Major psychological level and prior resistance).

### 6. **Trend Outlook:**
   - The upward trend since September 21, 2024, has seen a correction around November 5, 2024, with recovery towards the current level.
   - Price action near $2,674 is forming a potential higher low if bullish momentum persists.

### 7. **Market Sentiment:**
   - **Short-Term Sentiment:** Mildly bullish as price trades above the EMA(7).
   - **Medium-Term Sentiment:** Consolidation; watch for breakout signals near $2,786 or breakdown below $2,647.
   - **Long-Term Sentiment:** Bullish trend intact, given price remains above the EMA(99).

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### **Possible Strategies:**
1. **For Buyers:**
   - Enter near the support zone ($2,647) with a target of $2,786.
   - Place stop-loss below $2,647 to minimize risk.

2. **For Sellers:**
   - Watch for rejection near $2,786 to enter short positions with a target of $2,647 or $2,456.

3. **Neutral Approach:**
   - Await a clear breakout above $2,786 for confirmation of bullish continuation.
   - Monitor for breakdown below $2,647 for potential bearish movement.