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Selfkey Price Prediction 2021 – Will KEY Hit $0.05 Soon?


thenewscrypto.com 23 June 2021 19:02, UTC
Reading time: ~4 m

  • Bullish KEY price prediction ranges from $0.0123 to $0.03
  • The KEY price might also reach $0.05 soon.
  • KEY bearish market price prediction for 2021 is $0.005.

In Selfkey (KEY) price prediction 2021, we use statistics, price patterns, RSI, and much other information about KEY to analyze the future movement of the cryptocurrency.

A blockchain-based identity platform is Selfkey. Selfkey provides individuals, companies, exchanges, fintech startups, and banks. The Selfkey (KEY) is used in the ecosystem to manage the events happening inside of it and to ensure fluid transaction procedures.

According to CoinGecko, the KEY price is trading at $0.008369 with a 24-hour trading volume of $7,944,182 at the time of writing. However, Selfkey has increased by 26.79% in the last 24 hours.

Moreover, Selfkey has a circulating supply of 4.61B KEY. Currently, KEY trades in cryptocurrency exchanges such as Binance, CoinTiger, KuCoin, HitBTC, and ExMarkets.

Selfkey (KEY) Price Prediction 2021

Selfkey (KEY) holds the 573rd position on Coingecko right now. Selfkey price prediction 2021 is explained below with a daily time frame.

KEY/USDT Symmetric Triangle Pattern(Source: TradingView)

The above chart shows the Symmetrical Triangle patterns. Generally, a symmetrical triangle is made of a downward diagonal upward trend line and an upward diagonal downward trend line. When there is a price increase, it will inevitably break through the upper trend line to break, and in an uptrend, the price will increase or break. A lower trend line develops a breakthrough and a downward trend in which prices drop.

In the daily time frame chart, the KEY can reach $0.034 if the bull trend continues. Else, if the price of the KEY breaks the support level of $0.0068, it will fall to the next support level at $0.0033. So, the trend of the KEY is based on the breakout.

KEY Support and Resistance Level

The below chart shows the support and resistance level of KEY.

KEY/USDT Support and Resistance Level (Source: TradingView)

From the above daily time frames, it is clear the following are the resistance and support levels of KEY.

  • Resistance Level 1 – $0.012845
  • Resistance Level 2 – $0.019397
  • Resistance Level 3 – $0.034443
  • Support Level 1 – $0.007157
  • Support Level 2 – $0.004938
  • Support Level 3 – $0.003184

The charts show that KEY has performed a bullish trend over the past month. If this trend continues, XDC might run along with the bulls overtaking its resistance level at $0.034

Conversely, if the investors turn against the crypto, the price of KEY might plummet to almost $0.005, a bearish signal.

Selfkey (KEY) Average Directional Index (ADX)

Now let’s look at the average directional index (ADX) of KEY. Generally, the Average Directional Index (ADX) helps crypto traders identify the strength of a trend, instead of its actual direction. It can use to check whether the market is changing or it initiating a new trend. It is associated with the Directional Movement Index (DMI) and includes the ADX line.

The range of the oscillator is from 0 to 100. A high value represents a strong trend, and a low value represents a weak trend. It is often combined with the directional indicators.

KEY/USDT ADX(Source: TradingView)

The above chart shows the ADX of KEY stays above the range of 23, so it indicates a weak trend. Major price reversal could happen soon.

Conclusion

The KEY is one of the cryptos that keeps its ground against the bearish market. Furthermore, our long-term KEY price prediction for 2021 is bullish. It has a huge possibility of overtaking its current all-time high of $0.043 this year. However, this happens only if it breaks many past psychological resistances.

Furthermore, with the ongoing developments and upgrades within the KEY ecosystem, it could experience a great future ahead in 2021. It may reach $0.03 soon and it might even reach high heights, however reaching $0.05, if investors have planned that KEY is a good investment in 2021.

Disclaimer: The opinion expressed in this chart solely the author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.


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