PAX Gold Price Prediction for Today, June 20 – PAXG Technical Analysis

adminJune 21, 2024

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PAX Gold price prediction shows PAXG heading towards the upper boundary of the channel as the coin reaches the $2346 level.

What you need to know about PAX Gold

PAX Gold acts as a bridge that combines the advantages of both cryptocurrency and gold. Each PAXG token is backed by at least one troy ounce (toz) of 400 ounce London Good Delivery gold bars, securely stored in a Brinks vault in London.

PAX Gold Forecast Statistical Data:

Current PAX Gold price – $2316
PAX Gold market cap – $430.3 million
PAX Gold Circulating Volume – 185.8 million
PAX Gold total supply – 185.8 billion
PAX Gold CoinMarketCap Ranking – #131

PAXG/USD Market

Main level:

Resistance levels: $2500, $2550, $2600

Support levels: $2150, $2100, $2050

PAX Gold Price Prediction for Today, June 20 – PAXG Technical Analysis — PAXGUSD – daily chart

PAXG/USD is currently trading at $2316 after hitting a daily high of $2346, with the coin likely heading towards the upper boundary of the channel. However, if buyers are able to keep the price above the 9-day and 21-day moving averages, the market price may trend upward.

PAX Gold Price Prediction: PAXG Ready to Enter Northern Markets

Looking at the daily chart, PAX Gold price is approaching the resistance level of $2350 as the coin prepares to generate further gains. The 9-day moving average may need to stay above the 21-day moving average with the line pointing upwards to indicate a buy signal.

Nevertheless, let’s assume that buyers were able to keep the price above the moving average. In this case, PAX Gold price may head towards the upper boundary of the channel to find potential resistance levels at $2500, $2550, and $2600, while a slip below the lower boundary of the channel could cause the coin to reach the support levels at $2150, $2100. and $2050.

PAXG/BTC reverts below the moving average.

Compared to Bitcoin, PAX Gold price is moving sideways below the 9-day moving average and below the 21-day moving average, but if buyers return to the market, PAXG price may rise and reach the channel upper limit. Resistance level above 4000 SAT. Meanwhile, if the market price falls below the channel lower limit, sellers may increase their selling pressure which could reach support levels below 3100 SAT.

Nonetheless, if the price heads north to confirm a bullish move, the 9-day moving average is likely to move above the 21-day mark. However, a bullish move in the upward direction can create additional profits within the channel.

Meanwhile, @cmScanner_BB informed followers of Traders should keep an eye on the next move.

Paired with BB OverBought/OverSold in the last hour$PAXG pic.twitter.com/QyWzqymszV
— cmScanner_BB (@cmScanner_BB) June 15, 2024

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