Klaytn Price Prediction 2021 – Will KLAY Hit $2 Soon?

This Klaytn (KLAY) Price Prediction 2021 article is based on technical analysis alone. Below, you will see the key metrics that we have taken into consideration upon coming up with our KLAY price analysis and prediction.

Among the cryptocurrencies that are rallying this year, KLAY is perhaps one of the most surprising for some. It is not directly related to Bitcoin, nor is it the most hyped cryptocurrency today. But for those that are aware, KLAY has been around since 2019.

Can KLAY reach $2 in 2021? We will find out shortly. But before we proceed to our KLAY analysis, let us first answer the question “What is KLAY?” in this KLAY prediction 2021 article.

What is Klaytn (KLAY)?

Klaytn launched in June 2019. It is a public blockchain firm offering an accessible user experience and development environment in order to convey the blockchain technology value. Moreover, the platform combines the best features of both private and public blockchains.

More so, Klaytn aims to bring blockchain technology to all types of users, from micro startups to enterprise divisions. In addition, the company’s mission is to ensure decentralization via blockchain present on a global scale. In addition, the project has already secured interest from many highly reputable brands over the world.

Now that we are clear about KLAY do you think KLAY will be beneficial crypto in 2021? Join me and let us see the charts in this KLAY price analysis and KLAY price prediction.

Klaytn (KLAY) Current Market Status

As of the time of writing this KLAY price analysis, KLAY trades at $1.07 with a 24-hour trading volume of $85,408,604. The price of KLAY has increased by 2.4% in the last 24 hours.

Furthermore, KLAY has a current circulating supply of 2.48B KLAY. Currently, the top cryptocurrency exchanges for KLAY are Binance, OKEx, HitBTC, BiONE, and Hoo.

Now, let’s proceed to the next part of this KLAY technical analysis for 2021.

Klaytn (KLAY) Price Analysis

Currently, KLAY holds 35th place on CoinMarketCap. But will the latest upgrades, development, and changes in the KLAY blockchain help the cryptocurrency price to reach higher? Let’s proceed to the charts in this KLAY price prediction article.

In the hourly time frame chart shown above, we can see the Cup with handle Pattern. Moreover, the pattern represents a period of consolidation which might result and reach an immediate price breakout or breakdown. A breakdown from the upper trendline indicates the start of a new bullish trend, while a breakout from the lower trendline represents the start of a new bearish trend.

In the foreseeable future, we can say that KLAY has a higher chance of going bullish than bearish. As shown above, at the beginning of this month, KLAY turned from its bear to bull trend. This is the result of the high trade volume that happened in that period.

The Relative Strength Index (RSI) is above 42.79, which means that KLAY is in a neither overbought nor oversold state. With this traders need to stay cautious while trading, turning away from further losses.

Let us also look at the Simple Moving Average (SMA) and the Exponential Moving Average (EMA) of KLAY

Since the start of 2021, KLAY’s price has seen many bullish moves which are higher than the previous one. More so, these are followed by fluctuations, consolidation, and corrections right away. Taking this into consideration, KLAY has a competitive market this 2021.

Klaytn (KLAY) Price Prediction

The chart below shows that KLAY has performed great over the past few days. Moreover, the KLAY price shows a bullish trend. If this trend continues, KLAY might run along with the bulls, overtaking its $1.1 resistance level and move higher.

Conversely, if the investors turn towards crypto, the bears might take over and push KLAY from its uptrend position. In simpler terms, the price of KLAY might plummet to almost $0.97, a bearish signal.

Meanwhile, our long-term KLAY price prediction for 2021 is bullish. It has a high possibility of reaching new heights. However, that will only happen if it breaks many past psychological resistances.

Conclusion

KLAY has a bright future ahead of it in 2021. With the ongoing developments happening within the KLAY ecosystem, as well as in the overall crypto market, we may see KLAY reach new heights.

Bullish KLAY price prediction 2021 is $2. As said above, it may even reach its new ATH if investors have decided that KLAY is a good investment in 2021, along with mainstream cryptocurrencies like Bitcoin and Ethereum.

FAQ

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.

Source: https://coinquora.com/klaytn-klay-price-prediction/