Klaytn is an open-source blockchain project that aims to provide a high-quality user experience to users across the globe. Decentralized data, distributed governance, data controls, high scalability, and minimal latency are some striking features of this network that make it a perfect blend of public and private blockchains. KLAY is the in-house token of this network. The following KLAY technical analysis will predict the price trends for the next two days: Past Performance On May 29, 2021, KLAY opened at $1.45. On Jun 4, 2021, KLAY closed at $1.30. Thus, in the past week, the KLAY price has decreased by approximately 10%. In the last 24 hours, KLAY has traded between $1.29-$1.34. https://ift.tt/3ipphDP Day-Ahead and Tomorrow Currently, KLAY is trading at $1.32. The price has increased slightly from the day’s opening price of $1.30. Thus, the market seems bullish. The MACD and signal lines have converged at the zero line and may turn negative soon. Moreover, a bearish crossover by the MACD line over the signal line has occurred. Thus, the overall market momentum is all set to turn bearish. Hence, we can expect the KLAY price to start declining soon. Currently, the RSI indicator is at 43%. It faced rejection at 66% and fell to the current level. Thus, selling pressures are high. The RSI oscillator is, thus, giving further credence to the impending bearish momentum indicated by the MACD oscillator. But, the OBV indicator is upward sloping. Thus, buying volumes are higher than selling volumes. High buying activity will exert upward pressure on the KLAY price. In short, when we look at all three oscillators together, we can say that the bearish trend may continue for some time. We have to wait and watch if the intermittent price rises are temporary or the beginning of a strong price uptrend. KLAY Technical Analysis Currently, the price is below the first Fibonacci pivot resistance level of $1.33. The price may soon fall below the Fibonacci pivot point of $1.31. Thereafter, we have to wait and watch if the price starts rising or continues to fall further. The price has tested and fallen below the 23.6% FIB retracement level of $1.33. The price is soon likely to test and fall further below the 38.2% FIB retracement level of $1.32. If the price retests and breaks out of these levels in some time, then probably a price uptrend has set in. In that case, the price may upswing tomorrow as well.
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