In this PAX Gold technical analysis, we will examine the current price action, trading volume, key levels and indicators for PAXG-USDT. PAX Gold (PAXG) is a cryptocurrency that is backed by physical gold, providing a stable store of value and a hedge against inflation. It is built on the Ethereum blockchain and is fully collateralized by gold held in secure vaults. PAXG offers investors a way to gain exposure to the price of gold without the risks associated with traditional gold investments.
PAX Gold Price Overview:
As of October 02, 2023, PAX Gold is trading at approximately 1845.0 USDT. Let’s dive into the detailed price action for PAXG-USDT:
| Metric | Value |
|---|---|
| Open (O) | 1865.0 |
| High (H) | 1870.0 |
| Low (L) | 1841.0 |
| Close (C) | 1845.0 |
| Volume (C) | 996.33 |
- Open (O): The opening price for today’s trading session was approximately 1865.0 USDT.
- High (H): PAX Gold reached a daily high of around 1870.0 USDT.
- Low (L): The daily low for PAXG-USDT was approximately 1841.0 USDT.
- Close (C): At the time of analysis, PAX Gold is trading near its daily close of 1845.0 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | -1.07% |
| 3D Change (%) | -1.02% |
| 7D Change (%) | -3.30% |
| 30D Change (%) | -3.61% |
| 90D Change (%) | -2.79% |
| YTD Change (%) | 1.26% |
Over the past three days, PAXGUSDT has declined by approximately -1.02%, showcasing increased market volatility. Throughout the last week, it continued to decrease, with a loss of around -3.30%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with PAXGUSDT maintaining a downward trend of approximately -3.61%, despite intermittent fluctuations. Examining the last 90 days, PAXGUSDT has witnessed substantial drop of approximately -2.79%, reflecting strong long-term confidence. Year-to-date, PAXGUSDT has steadily increased by around 1.26%, 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-USDT 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 0.06918.
- Momentum score is -0.03605.
PAXG USDT Technical Analysis
PAX Gold Trading Volume:
The trading volume for PAX Gold (PAXG) over the past 24 hours has been significant, with approximately 996.33 USDT 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-USDT is currently in the low zone, around 35.02263. This suggests that PAX Gold is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
PAX Gold (PAXG-USDT) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the USDT monthly resistance level and the USDT support level for potential trading opportunities. Additionally, the low RSI and significant trading volume are low signals for potential downward movement.
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.
