Klaytn has been gathering support in the crypto markets recently and has been steadily rising up the ranks. The price of the coin has held its ground at $1.2 USD during the last few weeks. It looks like the coin will be at $1.3 USD before the month ends. The coin has been gaining support as the market recovers from the bear market. There are a few developments that could play in the favor of klaytn, including the Japanese government’s new cryptocurrency policies, the support of the Korean government and the technology behind the coin.
As Klaytn (KBTN) continues to remain on the upswing, the SegWit2x roadmap taken in November has allowed the blockchain to reach a $1.2 price level. Given the current low price of the Klaytn token, this is a positive sign that the community believes the price will climb higher in the coming months.
TL: DR Breakdown
- The cryptocurrency heatmap signals a bearish market..
- Klaytn coin opened the daily trading chart at $0.9470.
- KLAY is down by (-11%) in the last 24 hours.
Klaytn price analysis: General price overview
Towards the closure of yesterday’s 24-hours price analysis chart, there were more red candlesticks than green ones indicating a bearish market. However, things changed in today’s chart as buyers stormed the market, forcing Klaytn’s price to surge. Sellers could not let the bulls continue dominating the market.
Therefore, supply came in large volumes and reversed the bullish momentum that sent the price to higher lows of $0.9313. The coin traded moderately for some minutes as the bulls prepared to hike.
Thirty minutes past one, the bulls had gathered more strength that facilitated its upsurge with a head and shoulder pattern recording intraday high of $0.9566. Bears could not let the uptrend continue. They came stronger, reversing the bullish momentum. The price of Klaytn recorded a sharp decline sending the price to lows of $0.9308, where it faced resistance, and the bulls took control of the market.
Buyers did not control the market for long before they were subdued by the mighty bears that caused another sharp decline to an intraday low of $0.9007. Buyers consolidated more strength and forced the price to hike to $0.9496.
The cryptocurrency heatmap signals a bearish market as almost all of it is in red. The giant virtual currency (BTC) is down by (-2%), and it is currently trading at $33,222. The second-largest digital asset (ETH) is trading at $2,027, a drop of more than (-5%). Klaytn coin is down by(-11%).
Klaytn price analysis conclusion
At the time of writing, the coin price is trading above the 50 EMA; this shows that KLAY could be set to hike to $1 in the next 24 hours.
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