PAX Gold Price Prediction – Will PAXG Price Hit $3000 in 2022?

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 reduced by 4.8% 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, the crypto has decreased in price by 5.2% in the past 30 days. 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 67th position.. As a result, the PAXG price trades at $1,727.89 with a 24-hour trading volume of $23,739,329 and a 24-hour decrease of 0.02%. 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 67th 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.

PAXG/USDT 1Day Chart Showing Keltner Channel (Source: Tradingview)

Keltner channel is a technical analysis indicator that is used to determine trend directions by measuring the volatility above or below the candlesticks. From the Keltner Channel signals for PAXG/USDT, we can deduce that the price of Pax Gold might get bullish in some days since the price is almost breaking out at the first half of the channel from the bottom. However, in the long-term, the price might get bullish since top cryptocurrencies like Bitcoin and Ethereum are already getting bearish from the recent bullish run.

PAXG/USDT 1Day Chart Showing Relative Strength Index (Source: Tradingview)

The Relative Strength Index (RSI) measures the relative momentum in the magnitude of recent price changes so as to deduce oversold or overbought assets. The RSI value of the 1Day chart is 49.76.  This shows that Pax Gold (PAXG) is showing a neutral trend since its RSI lies between 30 and 50. This value can trigger a bullish or bearish run if investors reposition themselves either towards the buyers or sellers.

PAXG/USDT 1Day Chart Showing 200-MA and 100-MA (Source: Tradingview)

From the chart above, the 200-MA is above the 100-MA which means that long-term investors would gain. However, since the gap between the two moving averages is wide and both moving averages are above the recently formed candlesticks, the price of the coin might continue to increase.

PAX Gold (PAXG) Price Prediction 2022

The chart below shows that PAXG has shown bullish performance over the past few days and has gained 1.3% in the past 7 days. If this trend continues, PAX Gold might run along with the bulls, overtaking its resistance level at $1742 at resistance1 and surge even more to $2068 at resistance9, the 2022 bullish signal.

PAXG/USDT 1Day Chart Showing the Key Levels (Source: Tradingview)

Conversely, if the investors turn against the crypto, the bears might take over and dethrone crypto to its support level at $1685 and even lower, a bearish signal.

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

If PAXG’s bullish trend continues, PAXG will reach $2068 by the end of 2022. Moreover, in July 2022, PAXG is going to show fast growth, up to $1742. 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

If PAX Gold holds the support level around 200-MA which is the long-term moving average, buyers will then have PAXG time and stability to forge the next attack mission on the vital level at $5,000, making it not plummet but play consistently.

PAX Gold (PAXG) Price Prediction 2024

As per the latest upgrades, developments, PAX Gold price prediction, and new project forecasts of the platform, PAXG investors could expect many partnerships and integrations around 2024. 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 $7,000.

PAX Gold (PAXG) Price Prediction 2025

In the next three years, PAX Gold prices could race up to $8,000. 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. This indicates that PAXG has a high possibility of reaching a new ATH soon in the next three years as per the prediction.

PAX Gold (PAXG) Price Prediction 2026

In the next four years, PAX Gold prices could race up to $10,000. 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. This indicates that PAXG has a high possibility of reaching a new ATH soon in the next four years as per the prediction.

PAX Gold (PAXG) Price Prediction 2027

As per the latest upgrades, developments, PAX Gold price prediction, and new project forecasts of the platform, PAXG investors could expect many partnerships and integrations around 2027. 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 $12,000.

PAX Gold (PAXG) Price Prediction 2028

In the next six years, PAX Gold prices could race up to $15,000. 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. This indicates that PAXG has a high possibility of reaching a new ATH soon in the next six years as per the prediction.

PAX Gold (PAXG) Price Prediction 2029

As per the latest upgrades, developments, PAX Gold price prediction, and new project forecasts of the platform, PAXG investors could expect many partnerships and integrations around 2029. 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 $18,000.

PAX Gold (PAXG) Price Prediction 2030

In the next eight years, PAX Gold prices could race up to $20,000. 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. This indicates that PAXG has a high possibility of reaching a new ATH soon in the next eight years as per the prediction.

Conclusion

PAX Gold (PAXG) has a bright future ahead of it from 2022 to 2030. With the ongoing developments happening within the PAXG ecosystem, as well as in the overall crypto market, we may see PAXG reach new heights.

Bullish PAXG price prediction 2022 is $2068. As said above, it may even reach $3,000 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.