- The KLAY coin reclaims the 50 EMA in the daily time frame chart
- The KLAY/BTC pair trades at 0.00002706 BTC with a gain of 5.8%
- The 24 hr volume for KLAY coins is $149.7 Million
After displaying an evident V-top pattern, the KLAY coin price was back to the crucial support for the $1 mark. This level indicated an intense demand pressure below it when the price bounced from this support by forming a double bottom pattern. The token sustained the breakout of this bullish pattern and is now charging higher levels of the chart.
Concerning the EMAs: The KLAY price shows a bullish outlook as its price is trading higher than the crucial EMAs 20 and 50 EMA. The coin price has recently reclaimed the 50 EMA line.
The RSI value is at 51, indicating a slightly bullish sentiment within KLAY coins. Moreover, the RSI line has shown impressive growth in its value, projecting the increasing strength of the market buyers.
The KLAY Coin In The 4hr Time Frame Chart
The KLAY coin chart shows its price is struggling to cross a minor resistance level of the $1.42 mark. At this overhead resistance level, the technical chart displayed an inside bearish candle, suggesting the price rejecting from this level. Thus, for the long traders, the nearest support in this coin will be at $1.28. Furthermore, the current price for the KLAY coin at $1.35 is with an intraday loss of 4.33%.
The moving average convergence/divergence(MACD) indicator shows the MACD and signal lines are moving higher than the neutral zone (0.00), indicating the bullish sentiment in the coin.
Conclusion: From a technical perspective, the overall trend for the KLAY coin is still bearish. However, the current price action provides a strong bullish outlook, and crypto traders can look for some quick long opportunities for them until the chart confirms a bullish rally.
Support $1.28
Resistance $1.42