• Home
  • About Us
  • Terms and Conditions
  • Privacy Policy
  • Disclaimer
  • Contact
7 June Wednesday, 2023
TurkishNY Radio
  • Home
  • Business
  • Economy
  • Cryptocurrency
No Result
View All Result
  • Home
  • Business
  • Economy
  • Cryptocurrency
No Result
View All Result
TurkishNY Radio
No Result
View All Result
Home Cryptocurrency

PAXG Token Weekly Analysis And Price Prediction

The biggest obstacle in front of PAXG is $ 2101- support and resistance points.

Lois Zaytsaw by Lois Zaytsaw
11 April 2023
in Cryptocurrency
Reading Time: 3 mins read
0
What is PAXG Token?

This article will analyze the PAXG token according to coinmarketcap data. First, we will discuss the PAXG token and its projects and make technical and graphic analyses. The analysis we will do in the weekly period will help the investors to take risks and manage their portfolios.

What is PAXG Token?

PAXG is a cryptocurrency token representing physical gold held in custody by the Paxos Trust Company, a regulated financial institution. Each PAXG token is backed by one fine troy ounce of a 400-ounce London Good Delivery gold bar.

YOU MAY BE INTERESTED

Rabby-Wallet-Your-Ethereum-Compatible-Wallet-Alternative

Rabby Wallet: Your Ethereum-Compatible Wallet Alternative

7 June 2023
Binance-Facial-Verification-Troubleshooting-Guide-for-Failed-or-Not-Working-Issues-2

Binance Facial Verification: Troubleshooting Guide for Failed or Not Working Issues

5 June 2023

PAXG offers the benefits of owning physical gold, such as being a stable store of value and a hedge against inflation, with the convenience and accessibility of a digital asset. PAXG can be traded on cryptocurrency exchanges and used for payments or transfers like any other cryptocurrency.

What are the projects of PAXG?

As for projects related to PAXG, the main focus is its use as a stable and reliable store of value; the token is designed to expose investors to the value of physical gold without needing to hold or store the metal themselves.

PAXG Token Weekly Analysis And Price Prediction

Factors Influencing PAXG Price

Factors that can influence the price of PAXG include:

Gold prices: Since PAXG tokens are backed by physical gold, changes in the price of gold can affect the price of PAXG.

Cryptocurrency market trends: As with other cryptocurrencies, PAXG can be influenced by market sentiment and trends within the broader cryptocurrency ecosystem.

Supply and demand: As the supply of PAXG is limited by the amount of physical gold held in custody, changes in demand for PAXG can impact its price.

Regulatory environment: Any changes in regulations or legal issues related to cryptocurrency or gold ownership could impact the price of PAXG.

Investor sentiment: As with any investment, the perception of PAXG by investors can impact its price, with positive news or sentiment leading to increased demand and higher prices, while negative news or sentiment can lead to decreased demand and lower prices.

PAXG TOKEN TECHNICAL ANALYSIS

PAXG, which tested the highest value of $ 2101 in 2021, dropped to $ 1610 by the end of 2022. From a technical point of view, PAXG moves within the channel formed between $ 1718-2101. PAXG is currently trading at $2025. According to coinmarketcap data, PAXG, which has a size of $549,225,575, has had a volume of $11,369,128 in the last twenty-four hours.

paxg token analysis

PAXG Chart Analysis

After seeing the highest value of $2101, PAXG, which showed a bearish trend, fell to the $1610 support by the end of 2022. PAXG, which has formed an uptrend with purchases from this support zone, will maintain its uptrend unless this trend is broken down. PAXG, which has a resistance of $ 2101 in front of it, can decline to $ 1718 support in possible pullbacks.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their research when deciding. This article does not include investment advice or suggestions. Every investment and trading move involves risk, and readers should perform their analysis when determining.

It may get your attention:
  • Two Employees Of The Crypto Firm Braiscompany Are At The Middle Of A Scandal
  • Properly Structured Whole Life Insurance: Everything You Need to Know
  • How to Build a Strong Team in Network Marketing: A Step-by-Step Approach
ShareTweetSharePinSend
Previous Post

RUNE Coin Weekly Analysis And Price Prediction

Next Post

Alexandre Dreyfus’ Net Worth: A Look into This French Entrepreneur

Lois Zaytsaw

Lois Zaytsaw

Content Editor, News Meet Lois, a dynamic Crypto, Blockchain, and Finance Writer/Journalist based in the bustling metropolis of New York City. With a passion for technology and a keen understanding of finance, Lois has been covering the latest developments in the world of cryptocurrency and blockchain for several years. Her insightful articles have been featured in numerous leading publications, including The Wall Street Journal, Bloomberg, and CryptoBriefing. Lois' fascination with blockchain and cryptocurrency began during her time as a student at university, where she studied economics and computer science. She was drawn to the disruptive potential of blockchain technology to revolutionize the traditional financial industry, and since then, she has been following the latest trends and innovations in the space.

SIMILAR NEWS

Rabby-Wallet-Your-Ethereum-Compatible-Wallet-Alternative
Cryptocurrency

Rabby Wallet: Your Ethereum-Compatible Wallet Alternative

7 June 2023
Binance-Facial-Verification-Troubleshooting-Guide-for-Failed-or-Not-Working-Issues-2
Cryptocurrency

Binance Facial Verification: Troubleshooting Guide for Failed or Not Working Issues

5 June 2023
Best-Crypto-Exchange-in-the-UK-for-2023-Crypto-Landscape
Cryptocurrency

Best Crypto Exchange in the UK for 2023: Crypto Landscape

5 June 2023

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

NEWS FEED

Rabby-Wallet-Your-Ethereum-Compatible-Wallet-Alternative
Cryptocurrency

Rabby Wallet: Your Ethereum-Compatible Wallet Alternative

7 June 2023
Binance-Facial-Verification-Troubleshooting-Guide-for-Failed-or-Not-Working-Issues-2
Cryptocurrency

Binance Facial Verification: Troubleshooting Guide for Failed or Not Working Issues

5 June 2023
Best-Crypto-Exchange-in-the-UK-for-2023-Crypto-Landscape
Cryptocurrency

Best Crypto Exchange in the UK for 2023: Crypto Landscape

5 June 2023
Koinly-vs-TaxBit-A-Detailed-2023-Comparison
Economy

Koinly vs . TaxBit: A Detailed 2023 Comparison

5 June 2023
DMCA
PROTECTED
TurkishNY Radio

Site Navigation

  • Home
  • About Us
  • Terms and Conditions
  • Privacy Policy
  • Disclaimer
  • Contact

TurkishNY Radio

No Result
View All Result
  • Home
  • Business
  • Economy
  • Cryptocurrency

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.