Klaytn price analysis: KLAY/USD to hit $1.75 before midnight

TL; DR Breakdown

• KLAY/USD price seems to be stretching towards the upper band of the Bollinger indicator, suggesting a possible bull run.
• On the five-day Klaytn price analysis chart, KLAY/USD has been in a moderate trend for most of the time.
• The green dominance on the heatmap is an indication that the market is bullish. 

Klaytn price analysis: General price overview

On the five-day price analysis chart, KLAY/USD has been in a moderate trend for most of the time. Both buyers and sellers were controlling the KLAY/USD market hence the moderate trend. The short-term Moving Average crossed over the long-term MA, meaning that the bulls have more strength than the sellers.

Yesterday KLAY/USD traded positively as the chart was in its final trading hours, sending the prices to the intraday high of $1.6. Today bears had consolidated much strength and stormed the market as soon as it started making KLAY/USD price dip, triggering an inverted triangle price pattern. The bulls got support at $1.56, sending prices upwards to the highest of the day at $1.65. The bears came in again, intending to reverse the bull trend. Sellers created strong resistance at the intraday high, cutting short the bull trend and began a downtrend. The bears pulled down the KLAY/USD price to the lowest of the day at $1.62.

The Bollinger bands are very narrow, suggesting that few activities are taking place in the market hence the low volatility. Also, the KLAY/USD price seems to be stretching towards the upper band, which is the overbought region.

Most parts of the cryptocurrency heat map are green. The green dominance on the heat map is an indication that the market is bullish. Bitcoin is trading at $51K, a three percent increment, ETH trades in the same trend with less than one percent price surge making its price add to $3.9K.

KLAY/USD price movement in the last 24 hours: Positive price movement

On the 24-hours Klaytn price analysis chart, the KLAY/USD pair had been trading in a bullish trend. The RSI has been in the neutral zone and shows a possibility of moving towards the overbought region. The bears are unwilling to let the bulls go to the overbought region.

The market choppiness index is moving towards the zero mark, meaning the market is less choppy; hence KLAY/USD is not trading sideways.

KLAY/USD Four-hour price analysis chart: Buyers controls the Klaytn market

Source: Tradingview

On the four-hour rice analysis chart, the KLAY/USD began with a bull momentum, which was cut short by the bears. The market traded in moderate momentum from 01:35 to 02:45, where the bulls made the price rise before reaching resistance at $1.63.

The RSI has touched the overbought region two times. Currently, the RSI stands at 67, possibly crossing over to the overbought region; this signal indicates that bulls are planning something big. 

Klaytn price analysis: Conclusion

The MACD signals a possible KLAY/USD bull run as the MACD line has crossed above the red signal line indicating the trend market is on the way. Also, the histograms favor the Bull run, and the short green bars are more than the red one signaling a possible bull run. Klatn price analysis suggests that the coin is aiming to hit $1.75 before midnight.

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.

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