Market Overview for PAX Gold (PAXGUSDT)

• PAX Gold opened at $3,363.52 and closed near $3,361.37 on 24-hour data, showing a bearish drift.
• A key support at $3,356.00 and resistance at $3,363.40 defined the range with alternating bullish and bearish 15-minute candles.
• Volatility expanded during the early ET session as price broke below a key prior low.
• RSI hovered around 50, signaling neutral momentum, while MACD showed a narrowing histogram.
• Turnover spiked during a 15-minute bearish candle on 2025-08-24T19:45:00, suggesting increased distribution.

Opening to Closing Summary

PAX Gold (PAXGUSDT) opened at $3,363.52 on 2025-08-24 at 12:00 ET and closed the 24-hour period at $3,361.37. The price touched a high of $3,363.72 and a low of $3,353.14. Total volume for the day amounted to 1,126.81 units, with a notional turnover of approximately $3.84 million, calculated using the midpoint of close and open prices where needed.

Structure & Formations

The price action revealed a key support level forming at $3,356.00, where price bounced twice during the session. A bearish engulfing pattern formed at 19:45 ET, confirming bearish control. Resistance at $3,363.40 failed to hold multiple times, and a doji formed at 23:30 ET, indicating indecision. The price appears to be consolidating between these two levels, with a potential for a breakout to the downside if the support breaks.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages have been closely aligned, forming a flat trendline. The price has moved below both, indicating a short-term bearish bias. On the daily chart, the 50-period moving average remains above the 100 and 200-period lines, but the price has moved below the 50-period line, which may indicate the start of a bearish phase.

MACD & RSI

The MACD line has flattened and crossed below the signal line, indicating weakening momentum. The histogram has been shrinking, which suggests the bearish move may be losing strength. The RSI remains in the 50–60 range for most of the day, suggesting neutral conditions, but has dipped below 50 at the end of the 24-hour period, pointing to bearish pressure.

Bollinger Bands

Bollinger Bands have widened during the early part of the session, indicating increased volatility. The price has spent the majority of the day in the lower half of the bands, particularly between $3,356.00 and $3,361.00. A retest of the lower band could offer a buying opportunity, or alternatively confirm a breakdown if the support at $3,356.00 fails.

Volume & Turnover

The highest volume spike occurred at 19:45 ET with a notional turnover of $1.04 million, coinciding with a bearish candle. This indicates strong distribution at a key level. Volume has been generally light in the latter half of the day, suggesting a lack of conviction in the current price action. Price and turnover have moved in line, supporting the bearish narrative.

Fibonacci Retracements

Applying Fibonacci retracement levels to the 15-minute swing from $3,363.40 to $3,356.00, the 61.8% level sits at $3,358.65. The price has tested this area twice but has not held it. A further breakdown below the 100% retracement level at $3,354.60 could confirm a bearish bias. On the daily chart, the 38.2% retracement level of the larger swing is at $3,368.50 and appears to be a potential overhead hurdle.

Forward-Looking View:
PAX Gold may continue to trade between $3,356.00 and $3,363.40 in the next 24 hours if the support holds. A break below $3,356.00 could open the door for a retest of $3,353.00. Investors should monitor the 19:45 ET volume spike area for potential reversal signals or further distribution. As always, bear in mind that market sentiment can shift rapidly, especially in a stablecoin-backed asset like PAXG.