- KLAY token price rises higher to grow 50% in the past three weeks.
- The token price trends lower below the 200-day EMA with a recent bearish crossover.
- The KLAY/BTC pair is trading close to 0.00002807 BTC with an intraday gain of 5.45%
KLAYTN coin price rises higher than 50% in the past three weeks; however, the sloping 100-day Exponential Moving Average gave a bearish crossover with 200-days EMA projecting a rise in underlying bearishness.
Some Analysts can consider this price jump a retest of crossover, and the price may soon reverse back from the 200-day exponential moving average.
The coin price is trading at $1.25 with a gain of +7.78% in the last 24-hour. With an increase in the buying pressure, the intraday trading volume of the token has increased by 14.78%.
The coin indicates that the bulls are overpowering bears, with the recently made strong bullish engulfing candlesticks with tremendous buying volume.
KLAY Token Grows In An Expanding Channel
KLAYTN coin had made an expanding channel pattern in the 4-hour timeframe after a bullish reversal from the $0.86 mark. A short-term pullback might occur to continue the price resonance within the pattern.
The coin price is trading below all the crucial EMAs. The 200 EMA (white) has given a Golden Bearish Crossover with the 50 EMA (red). On the other hand, the 20 EMA(yellow) is above the 100 EMA(blue) in the 4-hour timeframe indicating an uptrend.
The RSI (Bullish) indicates bullish momentum in KLAYTN as the RSI slope moves towards the overbought zone.
The ADX indicates a gaining momentum as the spike in ADX increases, implying a positive growth of momentum.
Conclusion: KLAYTN coin price has lately displayed a growing uptrend within an expanding parallel channel pattern, implying a beginning of an uptrend. A short-term pullback may cause the continued resonance within the pattern.
A boost in the momentum of the uptrend might drive the price above the many key resistance levels.
Support- $1.20 and $1.00
Resistance- $1.35 and $1.5