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 July 06, 2024, PAX Gold is trading at approximately 0.04114 BTC. Let’s dive into the detailed price action for PAXG-BTC:
| Metric | Value |
|---|---|
| Open (O) | 0.04159 |
| High (H) | 0.04193 |
| Low (L) | 0.0411 |
| Close (C) | 0.04114 |
| Volume (C) | 28.00 |
- Open (O): The opening price for today’s trading session was approximately 0.04159 BTC.
- High (H): PAX Gold reached a daily high of around 0.04193 BTC.
- Low (L): The daily low for PAXG-BTC was approximately 0.0411 BTC.
- Close (C): At the time of analysis, PAX Gold is trading near its daily close of 0.04114 BTC.
| Metric | Value |
|---|---|
| 1D Change (%) | -0.94% |
| 3D Change (%) | 5.92% |
| 7D Change (%) | 8.43% |
| 30D Change (%) | 23.43% |
| 90D Change (%) | 24.74% |
| YTD Change (%) | -14.18% |
Over the past three days, PAXGBTC has risen by approximately 5.92%, showcasing increased market volatility. Throughout the last week, it continued to increase, with a gain of around 8.43%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with PAXGBTC maintaining an upward trend of approximately 23.43%, despite intermittent fluctuations. Examining the last 90 days, PAXGBTC has witnessed substantial increase of approximately 24.74%, reflecting strong long-term confidence. Year-to-date, PAXGBTC has steadily dropped by around -14.18%, 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 0.33705.
- Momentum score is 0.16742.
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 28.00 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 above the 50-day SMA, indicating short-term bullish momentum.
- 200-day Simple Moving Average (SMA): PAX Gold is also trading above the 200-day SMA, indicating a positive long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for PAXG-BTC is currently in the high zone, around 63.24626. This suggests that PAX Gold is in bullish territory.
Analysis from TradingView:
Our Key Takeaways:
PAX Gold (PAXG-BTC) is currently exhibiting signs of short-term bullish 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 high RSI and insignificant trading volume are high signals for potential upward movement.
PAX Gold (PAXGBTC) poised for growth at 4.11e-02 BTC, as bullish technical analysis reveals robust support and promising indicators.
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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.