TL; DR Breakdown
- Klaytn was in a bearish trend at the begining of the week.
- A wide Bollinger band marked the opening of the daily price analysis.
- KLAY/USD is generaly bullish on the daily Klaytn price analysis chart.
Klaytn price analysis: General price overview
Klaytn was in a bearish trend at the start of the week. However, bulls took control of the market at the end of yesterday’s price analysis chart, sending prices upwards in rising wedge streaks. The upswing in momentum continued into today’s Klaytn price analysis chart. Today’s price analysis features a brief positive trend that lasts only 30 minutes before plummeting drastically.
The sellers could not keep track while the market moved in a negative direction, so they assembled in large numbers and created a pool of energy that kept the bearish trend from gaining momentum after it broke support at $1.3. Since then, the market has traded modestly as the number of buyers and sellers has been nearly equal.
The 50-day moving average breached the 100-day moving average, revealing a strong bullish signal. The Moving Average indicators tested at $1.2 as a minor resistance before retreating to their former position.
The overall cryptocurrency market is optimistic, as shown by the heat map. BTC, the most well-known digital currency, has increased by 0.43 percent and is trading at slightly less than $46K, whereas the second-largest digital asset has also recorded a 3% increase and is currently trading at $3.4K.With the market continuing to strengthen, there are signs that altcoins are gaining ground as well. DOT is the top gainer of the day, with more than a 10 percent rise in price. Klaytn, like other cryptocurrencies, is trading up strongly with a 2% price increase; it’s currently priced at $1.4.
Klaytn price movement in the last 24 hours: High volatile market
A wide Bollinger band marked the opening of the daily price analysis. The wideness of the Bollinger band indicated high volatility. The KLAY/USD pair generally trades in a bullish trend, with most indicators suggesting a price surge.
Klaytn four-hour price analysis chart: price upsurge
The RSI indicator is currently leaning above 50, signifying that buying demand is more significant. It’s not likely to reverse soon because buyers keep entering the market.
On the four-hour price analysis chart, the green candlesticks outnumber red ones, meaning buyers control the market.
The BoP indicator is at 0.7, implying that the market is trading in a bullish trend as the buyers have outnumbered the sellers leading to a bullish trend.
Klaytn price analysis chart: Conclusion
On the one-hour price analysis chart, the coin has been trading in bulish solid momentum. KLAY/USD is expected to surge to 1.5 in the next 24 hours.
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