PAXG USDT 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-USDT. PAXG is a gold-backed stablecoin that offers the benefits of both traditional gold investing and the efficiency of digital currencies. It is collateralized by physical gold stored in secure vaults, ensuring its value remains stable and predictable. With PAXG, investors can gain exposure to the gold market without the risks and challenges associated with traditional gold investments.

PAX Gold Price Overview:

As of April 20, 2024, PAX Gold is trading at approximately 2386.0 USDT. Let’s dive into the detailed price action for PAXG-USDT:

Explore PAX Gold’s (PAXGUSDT) potential for growth at 2386.00 USDT as technical analysis leans bullish, emphasizing strong support and promising indicators.

Metric Value
Open (O) 2394.0
High (H) 2402.0
Low (L) 2375.0
Close (C) 2386.0
Volume (C) 997.08
  • Open (O): The opening price for today’s trading session was approximately 2394.0 USDT.
  • High (H): PAX Gold reached a daily high of around 2402.0 USDT.
  • Low (L): The daily low for PAXG-USDT was approximately 2375.0 USDT.
  • Close (C): At the time of analysis, PAX Gold is trading near its daily close of 2386.0 USDT.
Metric Value
1D Change (%) -0.33%
3D Change (%) -0.42%
7D Change (%) -2.69%
30D Change (%) 9.75%
90D Change (%) 18.82%
YTD Change (%) 17.71%

Over the past three days, PAXGUSDT has declined by approximately -0.42%, showcasing increased market volatility. Throughout the last week, it continued to decrease, with a loss of around -2.69%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with PAXGUSDT maintaining an upward trend of approximately 9.75%, despite intermittent fluctuations. Examining the last 90 days, PAXGUSDT has witnessed substantial increase of approximately 18.82%, reflecting strong long-term confidence. Year-to-date, PAXGUSDT has steadily increased by around 17.71%, 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 0.23228.
  • Momentum score is 0.08209.

PAXG USDT Technical Analysis

PAX Gold Trading Volume:

The trading volume for PAX Gold (PAXG) over the past 24 hours has been insignificant, with approximately 997.08 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 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-USDT is currently in the high zone, around 64.09069. This suggests that PAX Gold is in bullish territory.

Analysis from TradingView:

Our Key Takeaways:

PAX Gold (PAXG-USDT) is currently exhibiting signs of short-term bullish 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 high RSI and insignificant trading volume are high signals for potential upward movement.

Explore PAX Gold’s (PAXGUSDT) potential for growth at 2386.00 USDT as technical analysis leans bullish, emphasizing strong support and promising indicators.

Take the next step in your exploration by delving into our detailed insights on PAXG BTC PAX Gold Technical Analysis; it’s a natural 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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