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•KLAY/USD is currently priced at $0.458 and has decreased by 0.83% over the past day
•The technical indicators suggest a bearish outlook for the near term
•The trading volumes have decreased by 1.18% over the past day
Short Term View: Klaytn Coin Price stuck in a bearish trend
The Klaytn Coin price today is $0.458126 USD with a 24-hour trading volume of $83,708,867 USD. Klaytn is down 0.83% in the last 24 hours. The trading volumes have decreased slightly over the past day whereas the Volume to Market Cap Ratio stands at 0.06432 for the altcoin.
Klaytn clocked it’s all-time high of $4.38 on Apr 02, 2021, and has been struggling to reclaim those levels ever since. Currently it is in the middle of a downtrend as is indicated by the technical indicators. The altcoin trades below the 20 and 50 SMA on the 4 hour chart, indicative of the indecision amongst the bears. The support for the coin is placed at $0.37, while the resistance is placed at $0.50 in the event of a breakout. A sustained momentum would push the altcoin to the brink of the next resistance placed at $0.60.
Long Term View for Klaytn
Klaytn Coin Price is stuck in a rut today, with the altcoin struggling to attract buyers. The RSI is transacting in the neutral territory, placed at 37.77. This is an improvement upon the oversold levels Klaytn Coin was trading in the past few days. The histograms on the MACD indicator are positive, and are showing signs of growth on the daily chart. The altcoin is however, struggling to gather momentum for an upswing, which has led to a period of inactivity.
Conclusion
If buyers keep the current Klaytn Coin price intact,we will expect a strong growth impulse both in the pair to BTC and in the pair to USD. Otherwise, a protracted correction of the global growth trend will begin.
Support: $0.37-$0.30
Resistance: $0.50-$0.60
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
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