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

The PAX Gold price prediction shows that PAXG heads toward the channel’s upper boundary as the coin touches the $2346 level.

What You Need to Know About PAX Gold

PAX Gold serves as a bridge between cryptocurrency and gold, combining the best features of both. Each PAXG token is backed by at least one troy ounce (t oz) of a 400-ounce London Good Delivery gold bar, securely stored in Brinks vaults in London.

PAX Gold Prediction Statistics Data:

• PAX Gold price now – $2316
• PAX Gold market cap – $430.3 million
• PAX Gold circulating supply – 185.8 million
• PAX Gold total supply – 185.8 billion
• PAX Gold CoinMarketCap ranking – #131

PAXG/USD Market

Key Levels:

Resistance levels: $2500, $2550, $2600

Support levels: $2150, $2100, $2050

PAXG/USD is currently trading at $2316 after touching the daily high of $2346 and it is likely that the coin heads toward the upper boundary of the channel. However, if the buyers were able to keep the price above the 9-day and 21-day moving averages, the market price could rally toward the upside.

PAX Gold Price Prediction: PAXG Gets Ready for the North

Looking at the daily chart, the PAX Gold price is moving close to the resistance level of $2350 as the coin prepares to create an additional gain. The 9-day MA may need to stay above the 21-day MA with the line pointing up to indicate a buy signal.

Nevertheless, suppose the buyers were able to keep the price above the moving averages. In that case, the PAX Gold price may head toward the upper boundary of the channel to locate the potential resistance levels of $2500, $2550, and $2600 while sliding below the lower boundary of the channel could bring the coin to the supports at $2150, $2100, and $2050 respectively.

PAXG/BTC Retraces Below the Moving Averages

Against Bitcoin, the PAX Gold price is moving sideways below the 9-day and 21-day moving averages, but if the buyers resume back into the market, the PAXG price could swing high to reach the upper boundary of the channel which could hit the resistance level of 4000 SAT and above. Meanwhile, if the market price slides below the lower boundary of the channel, the sellers may increase the selling pressure which could reach the support level of 3100 SAT and below.

Nonetheless, the 9-day moving average is likely to cross above the 21-day if the price heads to the north to confirm the bullish movement. However, any bullish movement toward the upside may create additional gains within the channel.

Meanwhile, @cmScanner_BB informed his followers on X (formerly Twitter) that PAXG is one of the coins showing BB OverBought/OverSold signals in the last hour. Traders should keep an eye on the next move.

Pairs with BB OverBought/OverSold in the last 1h$PAXG pic.twitter.com/QyWzqymszV

— cmScanner_BB (@cmScanner_BB) June 15, 2024

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