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- 1 The PAX Gold crypto’s price took resistance and decreased by 1.11% over the last week.
- 2 The price of the PAXG crypto is trading at $1890.34 and the 52-week range is $1751 – $2056.
PAXG Gold is a crypto token that is equal to one ounce of gold in a secure vault. PAX Gold allows people to trade gold with ease and safety by using blockchain.
PAXG Gold crypto fell by 0.56% in market value and by 33.85% in trading volume in the last 24 hours, as per CoinMarketCap which is a crypto data and information website. Its market value is $470,753,872 and its trading volume is $3,956,280. There are 248,721 PAXG in circulation.
The maximum possible market cap of PAX Gold (PAXG) is $470,713,943 if all 250 thousand PAX tokens were in circulation today. This is what one calls the fully diluted valuation (FDV) of PAX.
However, the actual number of PAXG tokens in the market may be lower, depending on how they are issued over time. Therefore, it may take a long time before the FDV is reached. This data is from Coingecko, a website that provides information and analysis on cryptocurrencies.
Technical Analysis of PAXG on 1-D Timeframe
PAXG crypto price showed a downward trend for the past three months, decreasing by 1.50% during this time as the price fell by making lower lows and highs.
At the time of publication, the PAX crypto price is trading at $1890.34 and facing resistance from the downward trendline.
Therefore, the PAXG crypto price could continue to move downwards and reach the nearest support at $1881 and $1864 if PAX fails to sustain the current level.
However, if the PAX crypto price sustains the current level and rises, then it might hit the nearest resistance levels of $1911 and $1925.
At the time of publishing, the PAXG crypto price (PAX) is trading below the 20 and 50-day EMAs (exponential moving averages), which are rejecting the PAX crypto price trend.
The MACD line at 3.68 and the signal line at 1.98 are below the zero line and both lines cross each other but the gap is lean in the MACD oscillator. The current value of the RSI is 40 points and the 14-day SMA is below the median line at 48.31 points. Collectively, the indicators view has consolidation to bearish.
Conclusion
The PAXG crypto price prediction shows a neutral to negative outlook from investors and traders in the daily time frame. PAX Gold price action reveals a neutral to downward trend at the time of writing. Moreover, the daily chart shows that the price might either consolidate or keep going down, according to indicators like RSI, EMA, and MACD.
Technical Levels:
- Support levels: $1881 and $1864
- Resistance levels: $1911 and $1925
Disclaimer
In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
