Klaytn Price Analysis: KLAY Price Slumped -1.05% in 24-hours


  • Klaytn price analysis is bearish today.
  • KLAY/USD medium term support stood at $0.18.
  • The EMA(50) is currently at $0.23.
  • Klaytn shows bearish momentum over the weekend.

03 October 2022 : In this article we will walk you through Klaytn price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for Klaytn, Is KLAY a good investment? Klaytn support & resistance levels etc. But before diving deep into the KLAY technical analysis, let us talk about the current market conditions.

Market Analysis

Over the last twenty-four hours, there was a down fall of -1.34 percent, bringing the entire cryptocurrency market to $729,661,588,345. The total trading volume stands at $45,441,080,186. Bitcoin shares 51.47 percent of the entrie market while Ethereum has a dominance of 16.12%.
which resulted in Bitcoin's price rising to $19,590.97 level after an upward movement of 2.17%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price increase of 2.38 percent reaching to $1,324.81 during the previous 24 hours.
While publishing this blog, BNB traded at $288.15, following a price change of 1.67% within the same time frame. XRP the native coin of XRP is down by -0.23 and currently trading at $0.46. Additionally, Cardano reached $0.43 after seeing a uplift of 0.59% in value.
These events indicate that the market is heading in a downward direction for short term. At this moment, a general negative dip can being seen throughout the crypto market.

Klaytn Support and Resistance

Support and resistance are important technical indicators used to identify key price levels where the trend can change direction. Support is a level at which buyers become more active and stop the coin's price from falling any further. Similartly, Resistance is a level at which sellers become move active and stop the coin's price from moving higher.
Following are the support and resistance levels of Klaytn (KLAY)

KLAY Resistance Levels KLAY Support Levels
Resistance Level 1 $0.21 Support Level 1 $0.19
Resistance Level 2 $0.22 Support Level 2 $0.18
Resistance Level 3 $0.23 Support Level 3 $0.17

Klaytn Performance

According to Price Analysis Market Index, Klaytn (KLAY) is trading at $0.19 with a trading volume of $22,802,634.00. However,KLAY has a price decline of -1.05% in the last 24 hours.KLAY price changes -7.35% over the week with a total market capitalization of $575,858,664.00 USD.

Klaytn Price Analysis

KLAY price analysis for 03 October 2022 within a daily time frame explained below. we use Relative Strength Index(RSI), Moving Average Convergence and Divergence (MACD), Support levels, Resistance levels, different time period moving averages including Simple Moving Average (SMA) and Exponential Moving Average (EMA) to analyze the future movement of the Klaytn.

Moving Averages Price Indicator
Simple Moving Average (10) 0.20 Sell
Exponential Moving Average (10) 0.20 Sell
Simple Moving Average (20) 0.20 Sell
Exponential Moving Average (20) 0.20 Sell
Simple Moving Average (50) 0.23 Sell
Exponential Moving Average (50) 0.23 Sell

The Relative strength index (RSI) for KLAY Coin is currently hovering at 48 for 14-days average line, which means KLAY is in consolidation zone right now. While KLAY’s Williams %R indicator is at -88.983 for the 14-day time period indicating a oversold condition and short term trend reversal is possible. Bulls can move the market in upward direction. The KLAY/USD Moving Average Convergence and Divergence (MACD) indicator is indicating a short-term buy signal as the MACD line is moving above Signal Line Which means bulls are dominating in the market. Klaytn is moving in downward direction as bears successfully take the coin below immediate support level of $0.19. Now KLAY should find a support at $0.18 or else the sellers could then target the crucial support level placed at $0.23.

Conclusions

As of now, Klaytn is not doing well and is trading in reddish zone. In order to invest in the digital currency, crypto investors want to see the KLAY move into the positive zone. In 2022 and beyond, the Klaytn price has a significant likelihood of rising. It's important that you do your own research before making a decision on whether or not this is a smart investment for you.