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Klaytn price analysis: KLAY upholds above $1.33 as bullish momentum provide backup

Klaytn price analysis KLAY upholds above as bullish momentum provide backup

TL;DR Breakdown

  • The Klaytn price analysis is bullish today.
  • Resistance for KLAY is present at $1.36.
  • Support is present at $1.29.

The most recent Klaytn price analysis is dictating a rise in price as the bulls have returned to the price charts and the bullish momentum is gaining strength. Green candlesticks have reappeared on the price chart and the price has reached the $1.34 level after a sudden upturn. The bearish momentum was at its peak in the past days, but now the bulls have been able to bring the cryptocurrency out of the danger zone.

KLAY/USD 1-day price chart: Bullish momentum aggravates price flow above $1.33

The one-day Klaytn price analysis is indicating a bullish trend for the day as the price has heightened up to the $1.34 level today. The bullish activity has been intensifying since yesterday and we can expect that an upswing is on its way. Although the price underwent a rapid decline on 5th and 7th January, but the past two days have proved highly favorable for the buyers. The moving average (MA) value in the one-day price chart is also standing at $1.35 just above the price level.

Klaytn price analysis: KLAY upholds above $1.33 as bullish momentum provide backup 1
KLAY/USD 1-day price chart. Source: TradingView

The SMA20 curve has been trading above the SMA50 curve, which is a huge bullish sign. The upper Bollinger band is showing a $1.41 value representing resistance for KLAY/USD while the lower Bollinger band is showing a $1.23 value also representing the support. The Relative Strength Index (RSI) indicator is showing the RSI score at the center of the neutral zone at index 50. The curve of the indicator is upwards indicating the buying activity in the market.

Klaytn price analysis: Latest developments and further technical indications

The 4-hours Klaytn price analysis is confirming that an uptrend has been taking place for the past few hours. There have been instances where the bulls have encountered bearish resistance, but nonetheless, the upward trend has been maintained. However, recently some selling pressure has also been observed as the price has decreased slightly to $1.33 level. Overall the price has been able to cross the moving average (MA) value as well which is going at $1.31 in the four hours price chart. Whereas the Bollinger bands average is at $1.31 below the MA value at the time of writing.

Klaytn price analysis: KLAY upholds above $1.33 as bullish momentum provide backup 2
KLAY/USD 4-hours price chart. Source: TradingView

The SMA 20 curve is moving high once again after going below the SMA 50 curve in the previous weeks as a crossover has been observed four hours back, which is a bullish indication. The volatility is mils and now the upper Bollinger band is at $1.35 and the lower Bollinger band is at the $1.27 mark. The RSI score has reached index 51 as a result of the uptrend but the curve has flattened due to recent market pressure.

Klaytn price analysis conclusion

The uptrend has been going strong since yesterday and even today a rise in price has been detected. The bullish momentum has helped in taking the price to the $1.33 level after finding recovery. If the support present at $1.29 remains unchanged, the price can remain stable above its current level of $1.33, even we expect KLAY to continue upside for the coming hours and break above $1.34 later today.

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.
Aamir Sheikh

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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