PAXG BTC PAX Gold Technical Analysis

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By Frans van Elst

PAX Gold logo In this PAX Gold technical analysis, we will examine the current price action, trading volume, key levels and indicators for PAXG-BTC. PAX Gold (PAXG) is a digital asset that offers investors exposure to gold without the risks and challenges associated with traditional gold ownership. It is built on the Ethereum blockchain and is backed by physical gold stored in secure vaults, providing a unique way for investors to gain exposure to the precious metal. With PAXG, investors can easily buy, sell, and store gold within a decentralized and secure platform.

PAX Gold Price Overview:

As of May 27, 2024, PAX Gold is trading at approximately 0.03366 BTC. Let’s dive into the detailed price action for PAXG-BTC:

Receive signals of caution for potential PAX Gold (PAXGBTC) downturns at 3.37e-02 BTC through bearish technical analysis, accompanied by weakened support and cautionary indicators.

Metric Value
Open (O) 0.03427
High (H) 0.03445
Low (L) 0.03344
Close (C) 0.03366
Volume (C) 23.54
  • Open (O): The opening price for today’s trading session was approximately 0.03427 BTC.
  • High (H): PAX Gold reached a daily high of around 0.03445 BTC.
  • Low (L): The daily low for PAXG-BTC was approximately 0.03344 BTC.
  • Close (C): At the time of analysis, PAX Gold is trading near its daily close of 0.03366 BTC.
Metric Value
1D Change (%) -1.92%
3D Change (%) -1.72%
7D Change (%) -0.50%
30D Change (%) -9.49%
90D Change (%) -4.18%
YTD Change (%) -29.79%

Over the past three days, PAXGBTC has declined by approximately -1.72%, showcasing increased market volatility. Throughout the last week, it continued to decrease, with a loss of around -0.50%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with PAXGBTC maintaining a downward trend of approximately -9.49%, despite intermittent fluctuations. Examining the last 90 days, PAXGBTC has witnessed substantial decrease of approximately -4.18%, reflecting strong long-term confidence. Year-to-date, PAXGBTC has steadily decreased by around -29.79%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.

PAX Gold Live Chart:

You can access a live price chart for PAXG-BTC on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.

Price Volatility and Momentum:

  • Volatility score is 0.3993.
  • Momentum score is -0.07654.

PAXG BTC Technical Analysis

PAX Gold Trading Volume:

The trading volume for PAX Gold (PAXG) over the past 24 hours has been insignificant, with approximately 23.54 BTC traded against PAXG. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.

Moving Averages:

  • 50-day Simple Moving Average (SMA): PAXG is currently trading below the 50-day SMA, indicating short-term bearish momentum.
  • 200-day Simple Moving Average (SMA): PAX Gold is also trading below the 200-day SMA, indicating a negative long-term outlook.

Relative Strength Index (RSI):

  • The RSI30 for PAXG-BTC is currently in the neutral zone, around 45.21089. This suggests that PAX Gold is in range-bound territory.

Analysis from TradingView:

Our Key Takeaways:

PAX Gold (PAXG-BTC) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the BTC monthly resistance level and the BTC support level for potential trading opportunities. Additionally, the neutral RSI and insignificant trading volume are neutral signals for potential sideways movement.

Receive signals of caution for potential PAX Gold (PAXGBTC) downturns at 3.37e-02 BTC through bearish technical analysis, accompanied by weakened support and cautionary indicators.

Discover even more by checking out our comprehensive analysis on PAXG USDT PAX Gold Technical Analysis — a perfect follow-up if you enjoyed this post.

Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.

Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.

Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.

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