PAX Gold ($PAXG ) is indeed showing some bullish signs. Here's what's happening:
*Current Price:* $PAXG is trading at around $4,194.59, with a 2.29% increase in the last 24 hours. The tokenized gold asset has broken above its 7-day SMA ($3,997) and 30-day SMA ($4,089), indicating short-term momentum.
*Bullish Indicators:*
- *MACD Histogram:* Turned positive (+0.48), suggesting upward momentum.
- *RSI:* Although slightly overbought (70.45), still indicating bullish sentiment.
- *Moving Averages:* PAXG price is above key moving averages, signaling a strong buy.
- *Technical Analysis:* T
radingView shows a "buy" signal with a strong buy rating for the 1-week and 1-month periods.
*Potential Targets:*
- *Resistance Level:* $4,471 (first major resistance level)
- *Potential High:* $4,456 (predicted target if gold sustains strength above $4,100/oz)
*Caution:*
- *Overbought Conditions:* RSI warns of potential pullbacks.
- *Market Volatility:* Gold's sensitivity to Fed policy and crypto market fluctuations may impact click hare and buy$PAXG price. ¹ ²