Gold- and silver-linked assets are showing heavy distribution as the market adjusts to a sharp risk-off move.
XAG/USDT (Silver Perpetual)
• Price is trading around 83.65 USDT, down 28.2% on the day, reflecting aggressive sell pressure rather than orderly rotation.
• Intraday price action collapsed from 118.61 to 83.18, suggesting forced unwinds and liquidation-driven moves instead of gradual profit-taking.
• Selling intensity accelerated in a short window, indicating momentum-driven exits rather than weak liquidity conditions.
• On the 1-hour timeframe, price is well below the 9-EMA and 15-EMA, confirming strong bearish control with no immediate mean-reversion signal yet.
• Immediate support is forming near 83.00, while overhead resistance now sits much higher around 95–100, creating a wide imbalance zone.
PAXG/USDT (Tokenized Gold)
• Price is holding near 4,855.94 USDT, down 10.1%, showing relative strength compared to silver despite clear downside pressure.
• Price tested a 24h low at 4,833.33 after rejecting from 5,490.34, pointing to distribution rather than panic selling.
• On the 1-hour chart, EMA 9 has crossed below EMA 15, forming a short-term death cross and confirming bearish momentum.
• Support is attempting to build in the 4,800–4,830 zone, while resistance is now defined near 5,050–5,100.
Overall View Both assets are in a trend-reset phase, not a healthy range. Momentum has decisively flipped bearish, and recovery attempts will require time, base-building, and volume stabilization. Silver remains the higher-risk, higher-volatility leg, while gold continues to act as the relative defensive anchor.
Until price reclaims key EMAs and volatility compresses, this remains a wait-for-structure environment, not a chase.
Gold | Silver
