Klaytn price analysis: Klay rejected at $1.91 all-time high resistance as correction looms

Klaytn’s price analysis shows that after retesting, Klaytn adjusted to its all-time high stability of USD 1.91. Yesterday KLAY/USD hit $4.37, a very high position, but soon returned to $1.91. Today the price fell at the beginning of the session because the bears took over the price function.

The KLAY/USD pair has been in bullish mode since September 29 when the price started an uptrend and since then the price has been rising, bringing significant symbolic gains to retesting to retesting of record resistance levels, however the token has not crossed the barrier again.

KLAY/USD 1-day price chart: Bears cut price to USD 1.84
Klaytn’s one-day price chart for price analysis shows that the bears have lowered prices, covering a downside range from $1.91 to $1.84 as KLAY/USD is trading at $1.842 at the time of writing. Despite the downtrend, the KLAY/USD pair is still up more than 12 percent in the last 24 hours, and the pair is up 52 percent in the last seven days. Trading volume has increased by 259% in the last 24 hours, which is a very striking figure.

Volatility for KLAY/USD is high and increases over time; the price is trading above the Bollinger upper band, which is at $1.8, despite the decline. The bar value that is below the price level acts as the first price support level. The lower band is at $0.75 which is the lowest support, while the average $1.27 is the support at the average level for KLAY/USD.

The Relative Strength Index (RSI) is in a downtrend at 73.8, but still in overbought territory. The RSI entered the overbought zone on October 8 and reached 78.7 yesterday, where the return journey began. The indicator assumes the growth of commercial activity in the market.

Klaytn price analysis: Latest developments and additional technical information
The Klaytn 4 Hours Price Analysis chart shows the support that will save the KLAY/USD price from sinking as can be seen when a green candle appears on the chart. However, the price is likely to drop even lower, as the technical indications show.

Volatility is high and Bollinger Bands also show a slight upward curve, indicating that the price will continue to rise in the coming days, but if the RSI re-enters the neutral zone and moves straight ahead with no signs of rising. a downward movement indicates a movement that indicates a competition between buyers and sellers that cancels out profits or losses.

The moving average (MA) is moving towards the price level and is below $1.82; If the price drops, a bearish crossover occurs, which further indicates a decline in the price in the following hours.

Klaytn price analysis: conclusion
Clayton’s price analysis shows that KLAY/USD will correct after retesting the unbreakable high resistance all the time. The general mood is bullish for the KLAY/USD pair as most of the short, medium and long term technical evidence suggests that today’s adjustments will provide a starting point for further advances in the coming days as KLAY continues to consolidate. Despite today’s downtrend, the recent uptrend should help the token maintain its price in a higher price pack above $1.5 in the coming days. Over the next 24 hours, we expect the price of KLAY to stay above $1.6.