Klayton is an open-source blockchain project that is user-friendly, enterprise-grade, and service-centric. It has features like decentralized data & control, low latency, and distributed governance. It is a hybrid network with high scalability that brings the best of both worlds – public and private blockchains. KLAY is the native token of this ecosystem. The following KLAY technical analysis will predict price movements for the next two days:
On May 7, 2021, KLAY opened at $2.26. On May 13, 2021, KLAY closed at $2.04. Thus, in the past week, the KLAY price has risen by roughly 11%. In the last 24 hours, KLAY has traded between $1.95-$2.27.
Day-Ahead and Tomorrow
Currently, KLAY is trading at $2.24. The price has increased from the day’s opening price of $2.04. Thus, the market seems to be bullish.
The MACD and signal lines have just turned positive. Moreover, a bullish crossover by the MACD line over the signal line has occurred. Thus, the overall market momentum is positive. Hence, we can expect the price to rise further.
Currently, the RSI indicator is at 52%. It faced rejection at 46% and rose to the current level. Thus, buying pressures are slowly building and may surpass selling pressures soon. In other words, like the MACD indicator, the RSI indicator is also pointing towards a further price rise.
Besides, the OBV indicator is upward sloping. Hence, buying volumes are higher than selling volumes. Thus, the OBV indicator is giving further credence to a price uptrend indicated by the other two oscillators.
KLAY Technical Analysis
Presently, the price is above the first Fibonacci pivot resistance level of $2.21. It is soon likely to break out of the subsequent resistance levels of $2.28 and $2.41, respectively.
Currently, the price has tested and broken out of the 23.6% FIB retracement level of $2.19. Thus, the price upswing seems strong and is likely to continue tomorrow as well.