Klaytn Price Prediction 2021 – Will KLAY Hit $2 Soon?

Klaytn Price Prediction 2021 - Will KLAY Hit $2 Soon?
  • Bullish KLAY price prediction ranges from $1.05 to $1.16.
  • The KLAY price might also reach $2.
  • KLAY bearish market price prediction for 2021 is $0.95.

In KLAY price prediction 2021, we use statistics, price patterns, ADX, and much other information about KLAY to analyze the future movement of the cryptocurrency. 

Kakao, the company behind South Korea’s most popular messaging app “KakaoTalk,” created Klaytn as a native token on its own blockchain. It is an enterprise-grade, 

service-centric platform that provides millions of people with a user-friendly blockchain experience.

Klaytn’s efficient ‘hybrid’ design combines the best features of both public blockchains and private blockchains. It came into the scene in June, 2020 on the Klip wallet built into the KakaoTalk app.

Current Market Status of Klaytn (KLAY)

According to Coingecko, the price of Klaytn is $0.949 with a 24-hour trading volume of $65,157,195 at the time of writing. However, KLAY dropped to 2.01% in the last 24 hours.

Moreover, KLAY has a circulating supply of 2,484,290,316 KLAY coins. Currently, KLAY trades in cryptocurrency exchanges such as Binance, OKEx, HitBTC, BiONE and Gate.io.

Klaytn (KLAY) Price Prediction 2021

Klaytn (KLAY) holds the 46th position on CoinGecko right now. KLAY price prediction 2021 explained below with a daily time frame. 

KLAY/USDT Double Bottom Pattern (Source: TradingView)

The double bottom pattern consists of two low points forming near a similar horizontal price level which we have mentioned as “Demand Zone” and that indicates a possible bullish reversal signal. A measured price increase will occur between the two low points, indicating some support at the price lows.

The double bottom chart pattern, which depicts the letter “W,” appears at the end of a downtrend. Price falls to a new low, then rises slightly before falling back to the new low. Sellers give up after failing to push price to a new lower low to continue the downtrend, and price bounces sharply from this area.

Currently, KLAY is waving at its second low point at $0.94. After this, KLAY would continue to follow the double bottom pattern where the price will rise. If the trend reverses, then the price of KLAY may fall to $0.85.

Klayn (KLAY) Support and Resistance Level

The below chart shows the support and resistance level of Klayn (KLAY).

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

From the above chart, it is observed that the following are the resistance and support levels of KLAY.

Resistance Level 1$1.05
Resistance Level 2$1.16
Support Level 1$0.95
Support Level 2$0.85
Resistance & Support Levels

The chart depicts the bearish performance of KLAY over the previous week. However, KLAY will follow a bullish pattern and will rise. On the contrary, if the trend reversed then KLAY might fall to $0.85 presenting a bearish signal.

Klayn (KLAY) Average Directional Index (ADX)

Let us now look at KLAY’s Average Directional Index (ADX). In particular, the ADX assists traders in determining the strength of a trend rather than its direction. It can also be used to determine whether the market is changing or if a new trend is beginning. It is, however, linked to the Directional Movement Index (DMI).

Moreover, the oscillator has a range of 0 to 100. In addition, a high value represents a strong trend, while a low value represents a weak trend. Furthermore, it is frequently combined with directional indicators.

KLAY/USDT ADX (Source:Trading View)

The above chart represents the ADX of KLAY lies in the range at 40.08, so it indicates a strong trend.

Conclusion

The KLAY is one of the cryptos which is great for long-term investment. In addition, KLAY price prediction is bullish for a short term. It has a good chance of reaching $1.16 within the end of this year. However, this will only happen if many previous psychological barriers are broken.

Furthermore, with the advancements and upgrades on the KLAY ecosystem, the performance of KLAY would rise reaching $1.16 very soon. But, it might also reach $2 if the investors believe that KLAY is a good investment in 2021.

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

Recommended for you

A devoted content specialist who is inquisitive on exploring crypto and blockchain technology. She is fond of providing innovative contents that tugged her to write for NewsCrypto.