Resistance

Million

Klaytn

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Klaytn price (KLAY) is down by 3.07% in the last 24 hours and is currently trading at $0.12.</a> </li> 
 <li> <span>2</span> <a>Klaytn price (KLAY) price consolidated near the support zone and made a breakdown to the downside.&nbsp;</a> </li> 
</ul> 
<p>KLAY price has been continuously declining, losing most of the gains and forming new all-time lows. The price is in a continuous declining trend suffering multiple rejections from the key moving average of 50 EMA. The price is already below the 200 EMA indicating selling prevailed in the long-term trend.</p> 
<p>The daily chart shows that a strong bearish trend prevailing in the crypto as the price hit a new swing low a few days ago. Thereafter, the price tried to surge but got detained from the 50-EMA and consolidated near the low.&nbsp;&nbsp;</p> 
<p>The price prediction of the weekly chart shows that the price is trading in a parallel channel pattern and trading at the lower trendline of the wedge which might halt the price decline.&nbsp;</p> 
<p>The year 2023 has not been a profitable year for KLAY investors as the crypto has experienced strong selling after the breakdown of the $0.15 level and thereafter, the sellers took total control. Since then, the price has lost more than 50% of its market capitalization and still declining to thirst for more.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-klaytn-price-prediction-using-price-action-strategy-strong"><strong>Klaytn Price Prediction Using Price Action Strategy</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large"> 
  <img decoding="async" loading="lazy" width="1024" height="478" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-265-1024x478.png" alt="Klaytn Price Prediction: KLAY Crypto Is In a Descending Channel" class="wp-image-166895" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-265-1024x478.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-265-300x140.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-265-768x359.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-265-1536x717.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-265-750x350.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-265-1140x532.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-265.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px"> 
  <figcaption class="wp-element-caption">
    Source: KLAY/USD By <a href="https://www.tradingview.com/x/E9ff22G1/" target="_blank" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p>The analysts observe that the trend may remain on the bearish side until it remains below the upper boundary of the channel pattern. The KLAY price consolidated near the swing low and showed no signs of recovery.&nbsp;</p> 
<p>The price made a breakdown after the consolidation indicating a lack of buyers at the support and the trend is totally in the control of bears. The KLAY price may expect some buyers at the lower levels.&nbsp;</p> 
<p>The volume analysis shows that the volume received is less than the average volume indicating weakness in the market. The <a href="https://www.thecoinrepublic.com/2023/06/16/bittorrent-price-prediction-btt-price-shatters-recent-support/" target="_blank" rel="noopener noreferrer nofollow">KLAY token</a> has received a $7.6 Million volume in the past 24 hours which is nearly 61% more than the past day.&nbsp;</p> 
<h3 class="wp-block-heading" id="strong-klay-price-forecast-indicator-watch-strong"><strong>KLAY Price Forecast: Indicator Watch</strong></h3> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large"> 
  <img decoding="async" loading="lazy" width="1024" height="478" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-266-1024x478.png" alt="Klaytn Price Prediction: KLAY Crypto Is In a Descending Channel" class="wp-image-166896" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-266-1024x478.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-266-300x140.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-266-768x359.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-266-1536x717.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-266-750x350.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-266-1140x532.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-266.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px"> 
  <figcaption class="wp-element-caption">
    Source: KLAY/USD By <a href="https://www.tradingview.com/x/E9ff22G1/" target="_blank" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p>As per the EMA analysis, the <a href="https://www.thecoinrepublic.com/2023/07/20/klaytn-price-prediction-klay-price-in-a-narrow-channel/" target="_blank" rel="noopener noreferrer nofollow">KLAY price</a> is trading below the 50 and 200-day EMA indicating weakness over the charts. The EMAs are acting as a dynamic resistance for the price. The price may need to surpass the EMA to make a trend change.&nbsp;</p> 
<p>MACD lines have made a bearish crossover. Histogram bars are also being formed above the mean line with decreasing height indicating the bears losing momentum which might be a bullish sign for the buyers.&nbsp;</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>Klaytn is a cryptocurrency, falling steadily since the breakdown of the $0.15 level. The price is below the 50 and 200 EMA and shows a strong bearish trend. The price is trading in a parallel channel pattern and is at the lower trendline of the wedge. The price broke down after consolidating near the swing low, indicating a lack of buyers. The volume is low, which shows weakness in the market. The KLAY price is $0.07 with a drop of 4.2% in the last 24 hours.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<ul> 
 <li><strong>Support levels:</strong> $0.13 and $0.12.</li> 
 <li><strong>Resistance levels:</strong> $0.157 and $0.175.</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.&nbsp;</p>

Klaytn Price Prediction: KLAY Crypto Is In a Descending Channel

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