- Bullish PAXG price prediction for 2022 is $1756 to $1864.
- The PAXG price will also reach $2000 soon.
- Bearish PAXG price prediction for 2022 is $1726.
In PAX Gold (PAXG) price prediction 2022, we use statistics, price patterns, RSI, RVOL, and other information about PAXG to analyze the future movement of the cryptocurrency.
PAX Gold (PAXG) Current Market Status
According to CoinGecko, the price of PAX Gold (PAXG) is $1,733.75 with a 24-hour trading volume of $20,322,310 at the time of writing. However, PAXG has decreased to 0.2% in the last 24 hours.
Moreover, PAX Gold (PAXG) has a circulating supply of 337,668 PAXG. Currently, PAXG trades in cryptocurrency exchanges such as Binance, FTX, KuCoin, Kraken, Bitget, Bitrue, Pionex, Crypto.com, and MEXC.
What is PAX Gold (PAXG)?
PAX Gold (PAXG) is a traditional gold-backed cryptocurrency built on the Ethereum blockchain. It was launched as an ERC-20 token in September 2019. PAXG serves as the tokenized form of traditional gold. Each token is backed by one troy ounce of London Good Delivery Gold Bar held in secure vaults such as Brink’s.
PAX Gold (PAXG) is managed and held in custody by its manufacturer, Paxos, a state-chartered trust company. It scales the trading of traditional gold in the decentralized markets.
PAX Gold (PAXG) Price Prediction 2022
PAX Gold (PAXG) holds the 75th position on CoinGecko right now. PAXG price prediction 2022 is explained below with a daily time frame.
The above chart of PAX Gold (PAXG) laid out a descending channel pattern, also known as the falling channel. A descending channel is formed by two parallel trendlines. The upper trendline, which joins the highs, and the lower trendline, which joins the lows, run parallelly downwards. This pattern is the characteristic of a bearish market.
If the price of PAXG moves and breaches the resistance level of $1765, the pattern will be invalidated and would enter a bullish trajectory. In case, if it descends down the channel, it will continue the bearish pattern.
Currently, PAX Gold (PAXG) is at $1736. If the pattern continues, the price of PAXG might reach the resistance level of $1765, $1886, and $1994. If the trend reverses, then the price of PAXG may fall to $1687.
PAX Gold (PAXG) Support and Resistance Levels
The chart below shows the support and resistance levels of PAX Gold (PAXG).
From the above daily time frame, we can clearly interpret the following as the resistance and support levels of PAX Gold (PAXG).
| Resistance Level 1 | $1756 |
| Resistance Level 2 | $1792 |
| Resistance Level 3 | $1820 |
| Resistance Level 4 | $1842 |
| Resistance Level 5 | $1864 |
| Support Level | $1726 |
The charts show that PAXG has performed a bullish trend over the past month. If this trend continues, PAXG might run along with the bulls overtaking its resistance level at $1864.
Accordingly, if the investors turn against the crypto, the price of the PAXG might plummet to almost $1726, a bearish signal.
PAX Gold (PAXG) Price Prediction 2022 — RVOL, MA, and RSI
The Relative Volume (RVOL) of PAX Gold (PAXG) is shown in the below chart. It is an indicator of how the current trading volume has changed over a period of time from the previous volume for traders. Currently, the RVOL of PAXG lies below the cutoff line, indicating weak participants in the current trend.
Moreover, the Moving Average (MA) of PAX Gold (PAXG) is shown in the above chart. Notably, the PAXG price lies below 50 MA (short-term), so it is completely in a downward trend. Currently, PAXG is in a bearish state. There is a possibility of a reversal trend of PAXG at any time.
Meanwhile, the relative strength index (RSI) of the PAXG is at a level of 23.98. This means that PAXG is in an oversold state. However, this gives confidence to the traders to trade without any fear.
PAX Gold (PAXG) Price Prediction 2022 — ADX, RVI
Let us now look Average Directional Index (ADX) of PAX Gold (PAXG). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.
The above chart represents the ADX of PAX Gold (PAXG). Currently, PAXG lies in the range of 52, indicating a very strong trend.
From the above chart, the Relative Volatility Index (RVI) of PAX Gold (PAXG). RVI measures the constant deviation of price changes over a period of time. The RVI of PAXG lies below 50, indicating low volatility. In fact, PAXG’s RSI is at 23.98, thus confirming a potential buy signal.
Comparison of PAXG with BTC, ETH
The below chart shows the price comparison between Bitcoin, Ethereum, and PAX Gold (PAXG).
The above chart indicates that PAXG is moving in a dissimilar trend with respect to that of BTC and ETH. The price movement of PAXG does not correlate with both the dominant cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH).
PAX Gold (PAXG) Price Prediction 2023
If the declining price action completely slows down in momentum and the trend reverses, PAX Gold (PAXG) might probably attain $2500 by 2023.
PAX Gold (PAXG) Price Prediction 2024
With several upgrades in the network, PAX Gold (PAXG) might enter a bullish trajectory. If the coin grabs the attention of major investors, PAXG might rally to hit $3500 by 2024.
PAX Gold (PAXG) Price Prediction 2025
If PAX Gold (PAXG) sustains major resistance levels and continues to be recognized as a better investment option among investors for the next 3 years, PAXG would rally to hit $4500.
PAX Gold (PAXG) Price Prediction 2026
If PAX Gold (PAXG) sustains major resistance levels and continues to be recognized as a better investment option among investors for the next 4 years, PAXG would rally to hit $5800.
PAX Gold (PAXG) Price Prediction 2027
If PAX Gold (PAXG) sustains major resistance levels and continues to be recognized as a better investment option among investors for the next 5 years, PAXG would rally to hit $6890.
PAX Gold (PAXG) Price Prediction 2028
If PAX Gold (PAXG) holds up a strong stance as a better investment option for the next 6 years, it might witness significant price rallies. Thus, by 2028, PAXG would hit $7900.
PAX Gold (PAXG) Price Prediction 2029
If investors flock in and continue to place their bets on PAX Gold (PAXG), it would witness major spikes. PAXG might hit $9000 by 2029.
PAX Gold (PAXG) Price Prediction 2030
With greater advancements in the PAX Gold ecosystem, the crypto community might continue to invest in PAX Gold (PAXG) for the next 8 years and drive significant price rallies for the token. Hence, PAX Gold (PAXG) might hit $10500 by 2030.
Conclusion
With continuous improvements in the PAX Gold network, we can say that 2022 is a good year for PAXG. For this reason, the bullish price prediction of PAX Gold (PAXG) in 2022 is $1864. On the other hand, the bearish price prediction of PAX Gold (PAXG) for 2022 is $1726.
Furthermore, with the advancements and upgrades in the PAX Gold ecosystem, the performance of PAX Gold (PAXG) might hit $2000 gaining investors’ attention. It would also rise above its all-time high (ATH) of $2,241.37 in the near future.
FAQ
PAX Gold (PAXG) is a gold-back cryptocurrency built on the Ethereum blockchain. One PAXG represents one troy ounce of a 400-ounce London Gold Bar held in secure vaults as Brink’s. It was launched as an ERC-20 token in September 2019.
PAX Gold (PAXG) has been listed on many crypto exchanges which include Binance, FTX, KuCoin, Kraken, Bitget, Bitrue, Pionex, Crypto.com, and MEXC.
With the ongoing developments and upgrades within the PAX Gold platform, PAX Gold (PAXG) has a high possibility of reaching its ATH soon.
On May 17, 2021, PAX Gold (PAXG) reached its new all-time high (ATH) of $2,241.37.
PAX Gold (PAXG) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of PAX Gold in the past few months, PAXG is considered a good investment in 2022.
PAX Gold (PAXG) is one of the active cryptos that continues to maintain its bullish state. Eventually, if this bullish trend continues, PAX Gold (PAXG) will hit $2000 soon.
PAX Gold (PAXG) price is expected to reach $2500 by 2023.
PAX Gold (PAXG) price is expected to reach $3500 by 2024.
PAX Gold (PAXG) price is expected to reach $4500 by 2025.
PAX Gold (PAXG) price is expected to reach $5800 by 2026.
Recommended For You
Source: https://thenewscrypto.com/pax-gold-paxg-price-prediction