In this Pax Dollar technical analysis, we will examine the current price action, trading volume, key levels and indicators for USDP-USDT. Pax Dollar (USDP) is a stablecoin designed to provide a stable and secure means of exchange within the digital asset market. USDP is collateralized by a reserve fund that ensures its value remains consistent with the US dollar, offering a more predictable and less volatile alternative to other cryptocurrencies. With its focus on stability and security, Pax Dollar has gained popularity among institutional investors and individuals seeking a reliable store of value within the digital asset space.
Pax Dollar Price Overview:
As of July 06, 2024, Pax Dollar is trading at approximately 1.0007 USDT. Let’s dive into the detailed price action for USDP-USDT:
| Metric | Value |
|---|---|
| Open (O) | 1.0007 |
| High (H) | 1.0009 |
| Low (L) | 1.0005 |
| Close (C) | 1.0007 |
| Volume (C) | 81,797.00 |
- Open (O): The opening price for today’s trading session was approximately 1.0007 USDT.
- High (H): Pax Dollar reached a daily high of around 1.0009 USDT.
- Low (L): The daily low for USDP-USDT was approximately 1.0005 USDT.
- Close (C): At the time of analysis, Pax Dollar is trading near its daily close of 1.0007 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | 0.01% |
| 3D Change (%) | -0.08% |
| 7D Change (%) | -0.07% |
| 30D Change (%) | -0.03% |
| 90D Change (%) | 0.07% |
| YTD Change (%) | 0.04% |
Over the past three days, USDPUSDT has dropped by approximately -0.08%, showcasing increased market volatility. Throughout the last week, it continued to fall, with a loss of around -0.07%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with USDPUSDT maintaining a downward trend of approximately -0.03%, despite intermittent fluctuations. Examining the last 90 days, USDPUSDT has witnessed substantial rise of approximately 0.07%, reflecting strong long-term confidence. Year-to-date, USDPUSDT has steadily appreciated by around 0.04%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
Pax Dollar Live Chart:
You can access a live price chart for USDP-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 0.01146.
- Momentum score is 0.0002.
USDP USDT Technical Analysis
Pax Dollar Trading Volume:
The trading volume for Pax Dollar (USDP) over the past 24 hours has been insignificant, with approximately 81,797.00 USDT traded against USDP. 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): USDP is currently trading below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): Pax Dollar is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for USDP-USDT is currently in the neutral zone, around 48.95722. This suggests that Pax Dollar is in range-bound territory.
Analysis from TradingView:
Our Key Takeaways:
Pax Dollar (USDP-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 neutral RSI and insignificant trading volume are neutral signals for potential sideways movement.
Explore Pax Dollar’s (USDPUSDT) potential setbacks at 1.00 USDT through bearish technical analysis, emphasizing weakened support and cautionary indicators.
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.