- The trading volume has dropped by 54% in the last 24 hours.
- Pax Gold price has been ranging by 2% for the last 2 weeks.
According to the technical chart, the PAXG price has been in a bullish trend and recently recorded an all-time high. On April 13, 2024, the PAX Gold price was pumped by 39.90%, reaching an all-time high of $3289.06 and in a few hours it was dumped. The trading volume jumped by approximately 1700% as compared to previous days.
PAX Gold crypto price has risen by 20% since March and the trading volume has also increased. The price has been rising by taking support on the 20-day exponential moving average and trying to trigger a pullback near the $2400 level.
Current Price – $2391.99 Fear & Greed Index – 66 (greed)
Market cap – $438.65 million Green Days – 16/30 (53%)
Volume – $12.51 million Price Prediction – $2452 (2.77%)
Sentiment – Bullish RSI – 61.35
Volatility – 4.07% 200-day EMA – $2080
Based on our technical analysis, the PAX Gold price is forecasted to gain 2.77% to reach $2452 in the next 5 days. The PAXG has performed positively for 16 days in the past 30 days. The fear and greed index is 66 (greed) and the volatility is 4.07%.
PAX Gold price is trading at $2391.99 with an intraday fall of 0.36%. The market capitalization is $438.65 Million and the trading volume is $12.51 Million. The circulating supply and total supply is 183,447 PAXG.
PAXG Price Is In Bullish Trend; How Long Will The Surge Last?
On a daily time frame, the PAX Gold price has been in a bullish trend and showing a directional move. Currently, the asset price is holding near the $2400 hurdle and sustaining over the 20-day exponential moving average.
Suppose the PAX Gold price starts trading below the 20-day EMA and sustains, panic selling can be initiated by the buyers. If the price drops and takes support on the $2300 level, it may trigger a pullback and continue the bullish trend for some more time.
Alternatively, if the digital asset price bounces back from the recent level then it may record a new all-time high. Moreover, the rise in trading volume may lead to a strong bullish momentum for the long term.
Turning to the technical indicators, the PAXG crypto price is trading over the significant moving averages indicating strong buying momentum. RSI is 61 and has been consolidating in the overbought zone for the last few weeks indicating the buyers’ strength. RSI suggests that profit booking can be initiated at any time.
Sharp Fall in Trading Volume Has Detected
The graph of volume and price displays that the trading volume has fallen by approximately 95% in a week but the price hasn’t declined accordingly. Due to the huge change in trading volume, the PAX Gold price may react negatively in the next few days.
Conclusion
Based on technical analysis, the PAX Gold price is currently in a bullish trend and has recently recorded an all-time high. The price has been fluctuating slightly over the last two weeks and is currently trading around the $2400 level. The fear and greed index is currently indicating greed, and the volatility is at 4.07%. The trading volume has dropped significantly in the last 24 hours, which may concern some traders. However, the overall sentiment is bullish, and the RSI is in the overbought zone.
Technical Levels
Resistance Levels: $2458 & $2600
Support Levels: $2365 & $2200
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.