Klaytn (KLAY) Price Prediction 2023 – Will KLAY Hit $1 Soon?
- Bullish KLAY price prediction for 2023 is $0.3356 to $0.6336.
- Klaytn (KLAY) price might also reach $1 soon.
- Bearish KLAY price prediction for 2023 is $0.1212.
In Klaytn (KLAY) price prediction 2022, we use statistics, price patterns, RSI, RVOL, and other information about KLAY to analyze the future movement of the cryptocurrency.
Klaytn (KLAY) Current Market Status
| Current Price | $0.211456 |
| 24 – Hour Trading Volume | $70,021,372 |
| 24 – Hour Price Change | 6.3% low |
| Circulating Supply | 3,078,313,173 |
| All – Time High | $4.34 (On March 30, 2021) |
What is Klaytn (KLAY)?
Klaytn (KLAY) is the native cryptocurrency of the Klaytn blockchain. Klaytn is an open-source, EVM-compatible blockchain that launched in 2019. This layer-1 blockchain aims to focus on aiding the creation and development of metaverses.
Klaytn is secured by the Istanbul Byzantine Fault Tolerance (IBFT) consensus as a hybrid alternative to the traditional PoW and PoS models. IBFT offers more scalability to Klaytn. The business-focused blockchain serves as a launchpad for several blockchain apps (BApps).
The Klaytn (KLAY) token is used for the transaction fees. Users deploy KLAY as a payment option for building BApps on Klaytn.
Klaytn (KLAY) Price Prediction 2023
Klaytn (KLAY) holds the 62nd position on CoinGecko right now. KLAY price prediction 2023 is explained below with a daily time frame.
The above chart of KLAY laid out the horizontal channel pattern. A horizontal channel or sideways trend has the appearance of a rectangle pattern. It consists of at least four contact points. This is because it needs at least two lows to connect, as well as two highs. Buying and selling pressure is equal, and the prevailing direction of price action is sideways. Horizontal channels provide a clear and systematic way to trade by providing buy and sell points. When the price hits the top of the channel, sell your existing long position or take a short position. The difference between the other two is that a horizontal channel is characterized as having equal highs and lows.
Currently, Klaytn (KLAY) is at the range of $0.211456. If the pattern continues, the price of KLAY might reach the resistance level of $0.2224, $0.3382, and $0.7746. If the trend reverses, then the price of KLAY may fall to $0.1470.
Klaytn (KLAY) Support and Resistance Levels
The chart below shows the support and resistance levels of Klaytn (KLAY).
From the above daily time frame, we can clearly interpret the following as the resistance and support levels of Klaytn (KLAY).
| Resistance Level 1 | $0.3356 |
| Resistance Level 2 | $0.6336 |
| Support Level 1 | $0.2107 |
| Support Level 2 | $0.1212 |
The charts show that KLAY has performed a bullish trend over the past month. If this trend continues, KLAY might run along with the bulls overtaking its resistance level at $0.6336.
Accordingly, if the investors turn against the crypto, the price of the KLAY might plummet to almost $0.1212, a bearish signal.
Klaytn (KLAY) Price Prediction 2023 — RVOL, MA, and RSI
The Relative Volume (RVOL) of Klaytn (KLAY) is shown in the below chart. It is an indicator of how the current trading volume has changed over a period of time from the previous volume for traders. Currently, the RVOL of KLAY lies below the cutoff line, indicating weak participants in the current trend.
Moreover, the Moving Average (MA) of Klaytn (KLAY) is shown in the above chart. Notably, the KLAY price lies below 50 MA (short-term), so it is completely in a downtrend. Currently, KLAY is in a bearish state. There is a possibility of a reversal trend of KLAY at any time.
Meanwhile, the relative strength index (RSI) of the KLAY is at a level of 41.30. This means that KLAY is nearly in an oversold state. However, this means a major price reversal of KLAY may occur in the upcoming days. So, traders need to trade carefully.
Klaytn (KLAY) Price Prediction 2023 — ADX, RVI
Let us now look at the Average Directional Index (ADX) of Klaytn (KLAY). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.
The above chart represents the ADX of Klaytn (KLAY). Currently, KLAY lies in the range of 26.9278, indicating a strong trend.
The above chart also represents the Relative Volatility Index (RVI) of Klaytn (KLAY). RVI measures the constant deviation of price changes over a period of time. The RVI of KLAY lies below 50, indicating low volatility. In fact, KLAY’s RSI is at 41.03, thus confirming a potential sell signal.
Comparison of KLAY with BTC, ETH
The below chart shows the price comparison between Bitcoin, Ethereum, and Klaytn (KLAY).
From the above chart, we can interpret that the price action of KLAY is dissimilar to BTC and ETH. This indicates that when the price of BTC and ETH increases, the price of KLAY decreases. Also, when the price of BTC and ETH decreases, the price of KLAY increases
Klaytn (KLAY) Price Prediction 2024-2030
Numerous factors are taken into account when forecasting prices including volume changes, price variations, market cycles, and similar coins. Let’s predict the price of Klaytn (KLAY) between 2024 and 2030.
Klaytn (KLAY) Price Prediction 2024
If the declining price action completely slows down in momentum and the trend reverses, Klaytn (KLAY) might probably attain $1.5 by 2024.
Klaytn (KLAY) Price Prediction 2025
With several upgrades in the network, Klaytn (KLAY) might enter a bullish trajectory. If the coin grabs the attention of major investors, KLAY might rally to hit $2 by 2025.
Klaytn (KLAY) Price Prediction 2026
If Klaytn (KLAY) sustains major resistance levels and continues to be recognized as a better investment option among investors for the next 3 years, KLAY would rally to hit $3.
Klaytn (KLAY) Price Prediction 2027
If Klaytn (KLAY) sustains major resistance levels and continues to be recognized as a better investment option among investors for the next 4 years, KLAY would rally to hit $4.
Klaytn (KLAY) Price Prediction 2028
If Klaytn (KLAY) sustains major resistance levels and continues to be recognized as a better investment option among investors for the next 5 years, KLAY would rally to hit $5.
Klaytn (KLAY) Price Prediction 2029
If Klaytn (KLAY) holds up a strong stance as a better investment option for the next 6 years, it might witness significant price rallies. Thus, by 2029, KLAY would hit $6.
Klaytn (KLAY) Price Prediction 2030
If investors flock in and continue to place their bets on Klaytn (KLAY), it would witness major spikes. KLAY might hit $7 by 2030.
Conclusion
With continuous improvements in the Klaytn network, we can say that 2022 is a good year for KLAY. For this reason, the bullish price prediction of Klaytn (KLAY) in 2022 is $0.6336. On the other hand, the bearish price prediction of Klaytn (KLAY) for 2022 is $0.1215.
Furthermore, with the advancements and upgrades in the Klaytn ecosystem, the performance of Klaytn (KLAY) might hit $0.5 gaining investors’ attention. It would also rise above its all-time high (ATH) of $4.34 in the near future.
FAQ
1. What is Klaytn (KLAY)?
Klaytn (KLAY) is the utility token of the Klaytn blockchain that was launched in 2019. Klaytn is an open-source EVM-compatible blockchain meant for the development of metaverses.
2. Where can you purchase Klaytn (KLAY)?
Klaytn (KLAY) has been listed on many crypto exchanges which include Binance, LBank, OKX, MEXC, Coinone and DigiFinex.
3. Will Klaytn (KLAY) reach a new ATH soon?
With the ongoing developments and upgrades within the Klaytn platform, Klaytn (KLAY) has a high possibility of reaching its ATH soon.
4. What is the current all-time high (ATH) of Klaytn (KLAY)?
On March 30, 2021, Klaytn (KLAY) reached its new all-time high (ATH) of $4.34.
5. Is Klaytn (KLAY) a good investment in 2023?
Klaytn (KLAY) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of Klaytn in the past few months, KLAY is considered a good investment in 2023.
6. Can Klaytn (KLAY) reach $1?
Klaytn (KLAY) is one of the active cryptos that continues to maintain its bullish state. Eventually, if this bullish trend continues, Klaytn (KLAY) will hit $1 soon.
7. What will be Klaytn (KLAY) price by 2024?
Klaytn (KLAY) price is expected to reach $1.5 by 2024.
8. What will be Klaytn (KLAY) price by 2025?
Klaytn (KLAY) price is expected to reach $2 by 2025.
9. What will be Klaytn (KLAY) price by 2026?
Klaytn (KLAY) price is expected to reach $3 by 2026.
10. What will be Klaytn (KLAY) price by 2027?Klaytn (KLAY) price is expected to reach $4 by 2027.
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Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.
Read more: https://thenewscrypto.com/klaytn-klay-price-prediction
Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
