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Klaytn price analysis: Bears manage to bring the price down to $1.44 amidst bullish momentum

TL;DR Breakdown

  • The price underwent a slight decline today.
  • Klaytn price analysis shows price at $1.441.
  • Support is still strong at $0.91 position.

The price is going down once again according to the latest Klaytn price analysis. The bears are striving to make a comeback, and have caused a slight decrease in the price as well. The price has now returned to the $1.44 mark, and it is expected that it might recover back in the coming time period. The past week has seen immense improvement in the coin value because the bullish trend remained on the lead. But today a drop in price has occurred as well, which is a bearish sign.

KLAY/USD 1-day price chart: Price takes a brief stop at $1.44 before heading high

The one-day Klaytn price analysis is showing signs of bearish momentum as the price has been lowered to $1.44. The past week proved highly profitable for the bulls, but today the constant uptrend has been diverted because of the bearish interval. There is an imminent possibility that the bulls might recover back in the coming days. The moving average (MA) value is still quite low i.e. $1.22 because of the sudden increase in price during the last week.

KLAY/USD 1-day price chart. Source: TradingView

The volatility has increased at a high level, which indicates that the price might go down in the future. The Bollinger band values have changed as such that the upper value is now $1.42 whereas the lower value is $0.92. The Relative Strength Index (RSI) score is standing at 63 for the one-day price chart, the RSI is quite near the overbought limit.

Klaytn price analysis: KLAY powers through all obstacles as price crosses $1.44 hurdle

The 4-hour price chart for Klaytn price analysis shows bullish momentum is again stepping in as the price has been constantly on the rise for the past few hours. The price has now reached the $1.45 level and is expected to reach greater heights in the future. The uptrend has been quite stable and the price is leveling up every hour. Also, the moving average indicator on the four hours price chart is showing its value at $1.41, slightly lower than the price value.

KLAY/USD 4-hours price chart. Source: TradingView

The volatility has increased which is not a positive sign regarding the upcoming trends. This is why the upper Bollinger band has moved towards $1.504 whereas the lower band is now at $1.14. The RSI score is also quite high i.e. 69 and will cross the overbought threshold in the future.

KLAY/USD technical indicators chart. Source: TradingView

The technical indicators chart for Klaytn price analysis is giving out a strong bullish signal as the price reached unexpected heights during this week. There are 15 indicators standing on the buying point, seven on the neutral point, and two indicators are standing on the selling point.

The moving averages indicator is displaying favorable results for the bulls as well because of the continual rise in price. There is a total number of 12 indicators present on the buying position, one indicator on the neutral position while none is present on the selling position. The Oscillators are going quite neutral as there are six indicators found on the neutral level, three on the buying level, and only two on the selling level.

Klaytn price analysis conclusion

The one-day and four hours Klatyn price analysis is showing signs of bearish activity as the price decreased up to $1.44 during the day. The bulls have been ruling the price charts for the past week and it is expected that they will make room for recovery, as the bearish hindrance of today is not strong enough, but an indication of some selling pressure at this particular time. If the support remains stable at $0.91, the price will continue to heighten in the future.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

This post was last modified on October 6, 2021 6:35 pm

Aamir Sheikh

Amir is a media, marketing and content professional working in the digital industry. A veteran in content production Amir is now an enthusiastic cryptocurrency proponent, analyst and writer.

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