KLAY Technical Analysis: Price Likely to Breakout of $2.28 and $2.41
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KLAY Technical Analysis: Price Likely to Breakout of $2.28 and $2.41

May 14, 2021      Ankita Awasthi

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:

Past Performance

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.

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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.

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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.

#KLAY #Klayton
Ankita Awasthi
Ankita Awasthi

Ankita is reading geek by birth, she loves to read and write about finance and now cryptocurrencies and blockchain since 2017. A Bitcoin enthusiast ever since, she likes to understand businesses and how they affect everything else. Ankita contributes on our news bulletin with the latest happening in blockchain, crypto and ICO market specifically.