10 June 2023 : In this article we will walk you through PAX Gold price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for PAX Gold, Is PAXG a good investment? PAX Gold support & resistance levels etc. But before diving deep into the PAXG technical analysis, let us talk about the current market conditions.
Over the last twenty-four hours, there was a down fall of -1.84 percent, bringing the entire cryptocurrency market to $1,044,136,575,632. The total trading volume stands at $48,548,257,055. Bitcoin shares 47.7 percent of the entrie market while Ethereum has a dominance of 16.33%.
which resulted in Bitcoin's price dropping down to $25,676.63 level after a decline of -3.56%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price decrease of -5.76 percent reaching to $1,743.38 during the previous 24 hours.
While publishing this blog, BNB traded at $235.69, following a price change of -10.29%within the same time frame. XRP the native coin of XRP is down by -7.73 and currently trading at $0.49. Additionally, Cocos-BCX reached $0.60 after seeing a decline of -0.77% in value.
These events indicate that the market is heading in a downward direction for short term. At this moment, a general negative dip can being seen throughout the crypto market.
Support and resistance are important technical indicators used to identify key price levels where the trend can change direction. Support is a level at which buyers become more active and stop the coin's price from falling any further. Similartly, Resistance is a level at which sellers become move active and stop the coin's price from moving higher.
Following are the support and resistance levels of PAX Gold (PAXG)
|PAXG Resistance Levels||PAXG Support Levels|
|Resistance Level 1||$1,673.33||Support Level 1||$1,620.10|
|Resistance Level 2||$1,701.31||Support Level 2||$1,594.85|
|Resistance Level 3||$1,726.56||Support Level 3||$1,566.87|
The price of PAX Gold (PAXG) is at $1,916.11, down -0.27% in the past 24-hours and has a price change of -1.79% over the week. One day trading volume for BTC is 15,790,696.00 USD while total marketcap reached $494,853,247.00 USD. There are almost 258,259 are in circulation out of 258259.
PAXG price analysis for 10 June 2023 within a daily time frame explained below. we use Relative Strength Index(RSI), Moving Average Convergence and Divergence (MACD), Support levels, Resistance levels, different time period moving averages including Simple Moving Average (SMA) and Exponential Moving Average (EMA) to analyze the future movement of the PAX Gold.
|Simple Moving Average (10)||1,652.64||Buy|
|Exponential Moving Average (10)||1,650.32||Buy|
|Simple Moving Average (20)||1,667.42||Buy|
|Exponential Moving Average (20)||1,664.80||Buy|
|Simple Moving Average (50)||1,674.43||Buy|
|Exponential Moving Average (50)||1,673.08||Buy|
While PAXG’s Williams %R indicator is at -82.576 for the 14-day time period indicating a oversold condition and short term trend reversal is possible. Bulls can move the market in upward direction. RSI implying oversold phase while trading at 14 and is trying to break out of the bearish zone while highlighting massive bearish strength. The PAXG/USD Moving Average Convergence and Divergence (MACD) indicator is indicating a short-term sell signal as the MACD line is moving below Signal Line Which means bears are dominating in the market.
The value of PAXG is continuously dumping but it is expected that support levels at $1,620.10 and $1,594.85 will act as crucial points and bounce the trend line in the bullish zone