PAX Gold Price Prediction – Will PAXG Price Hit $3000 Soon?

This PAX Gold (PAXG) Price Prediction 2022 article is based on technical analysis alone. Below, you will see the key measures that we have taken into consideration upon coming up with our price analysis and prediction.

The cryptocurrency market has started to surge again. In fact, there are many digital assets that increased to a new all-time high during the recent 2021 bull run. In contrast, PAX Gold (PAXG) retained its 2020 all-time high of $3,487.68. However, its price has risen by 7.1% in the past year.

Nevertheless, the crypto market is consolidating lately, and most cryptos are losing their previous profits. Is the scenario the same as the PAXG price? We’ll find out shortly in this PAXG price analysis 2022 article. But first, let’s have a look at what PAXG is.

What Is PAX Gold (PAXG)?

Pax Gold (PAXG) is a gold-backed cryptocurrency, launched by the creators of Paxos Standard (PAX) in September 2019. As an ERC-20 token operating on the Ethereum Blockchain Pax Gold is tradeable on a large variety of exchanges and has become an accessible way for traders to start investing in gold.

The main goal behind Pax Gold is to make gold more tradable, as the physical commodity is not easily divisible or flexible in terms of transport. This is why Paxos Standard decided to create a cryptocurrency entirely backed by gold. According to the official whitepaper, Pax Gold was created to allow investors to buy indefinitely small amounts of gold through the cryptocurrency, thus virtually eliminating minimum buy limits for the commodity. PAXG can be traded on Binance, Kraken, Kucoin, FTX, Gemini, and other exchanges.

Now that we have an idea about PAXG, do you think PAX Gold will be profitable crypto in 2022? Join me and let us see the charts in this PAXG price analysis and PAXG price prediction.

PAX Gold (PAXG) Current Market Status

PAX Gold (PAX) is one of the most aggressive cryptocurrency assets in the crypto market today. In fact, crypto was able to record a growth rate of over 5.9% in the past month. For this reason, PAXG has become one of the most talked-about digital assets in the crypto world, since some top cryptocurrencies are on the negative index in the past month.

In terms of its market standing, the crypto positions itself as one of the most prominent cryptocurrencies in CoinMarketCap, since it is in the 123^rd position.. As a result, the PAXG price trades at $1,955.85 with a 24-hour trading volume of $68,572,137 and a 24-hour increase of 2.19%. Indeed, this market status of crypto attracts global investors all around the world.

Now that you already have an idea about what PAXG cryptocurrency is, do you think PAX Gold is a good investment this year? If you are already excited to know, come, and together let us check this PAX Gold (PAXG) price prediction and price analysis article.

PAX Gold (PAXG) Price Analysis 2022

Currently, PAXG holds 123rd place on CoinMarketCap. But will the recent development and changes in the blockchain help the cryptocurrency price to reach higher? Let’s proceed to the charts in this PAXG price prediction article.

From the Keltner Channel indicator chart above for PAX Gold (PAXG) above, we can see that the price is above the first half of the curve from the top and that the present uptrend could be sustained for a while.

Since the relative strength index (RSI) value of PAX Gold (PAXG) is 75.37, it indicates that the present trend is overbought since it lies between 70 and 100. Traders should beware since a possible bearish run might emerge.

The 90-MA for PAX Gold (PAXG) is below the 30-MA, which indicates that the price of PAXG is not bullish in the long term.

PAX Gold (PAXG) Price Prediction

From the chart below, if the bears have their way, the price of PAXG might break the $1936 support1 level and plummet to $1690 at support6 level, which is the bearish price signal for 2022.

Conversely, the market might turn with crypto thereby making its recent uptrend position to be sustained, thereby making the price of PAXG to reverse and break the $2028 price at the resistance level, the bullish signal for 2022.

But, the price of PAX Gold is bullish for 2022, but it has to break many psychological resistances to push higher.

PAX Gold (PAXG) Price Prediction 2022

If PAXG’s bullish trend continues, PAXG will reach $2500 by the end of 2022. Moreover, the first half of 2022 is going to show fast growth, up to $2000. Then this rise will slow down, but no major falls are expected. With upcoming partnerships, and developments reaching $3000 is quite optimistic in the price point of view but undoubtedly feasible for the near future.

PAX Gold (PAXG) Price Prediction 2023

The price of PAXG can move even great heights, however reaching $5000. Moreover, this is possible only if the market maintains its bullish trend. In addition, only if the cryptocurrency PAXG breaks past the psychological resistance level.

PAX Gold (PAXG) Price Prediction 2024

As per the latest upgrades, developments, PAXG price prediction, and new project forecasts of the platform the price surges. Moreover, this might boost the price of PAXG in the crypto market, and it will be the best investment as the price can spike and reach around $7000.

PAX Gold (PAXG) Price Prediction 2025

In the next four years, PAXG prices could rise up to $8000. However, reaching this level could not be so difficult for PAXG as additional medium, short-term, and long-term price targets could be found to purchase or sell orders.

PAX Gold (PAXG) Price Prediction 2026

In the next five years, PAXG prices could rise up to $10000. However, reaching this level could not be so difficult for PAXG as additional medium, short-term, and long-term price targets could be found to purchase or sell orders.

Conclusion

PAXG has a great future ahead of it in 2022. With ongoing developments happening within the PAX Gold ecosystem, as well as in the overall crypto market, we may see PAXG reach new heights. The bullish price prediction of PAXG is $2500.

Meanwhile, our long-term PAXG price prediction for 2022 is bullish. It has a low possibility of surpassing its current all-time-high (ATH) at about $3,487.68 according to CoinMarketCap this year. However, that will only happen if it breaks past a number of psychological resistances.

Also, if investors have decided that PAXG is a good investment in 2022 along with mainstream cryptocurrencies like Bitcoin and Ethereum.

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Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.