- The KLAY coin shows the 20-and-100-day EMAs are on the verge of giving a bullish crossover
- The KLAY/BTC pair trades at 0.00002794 BTC with a loss of 2.53%
- The 24 hr volume for KLAY coins is $149.7 Million
As mentioned in my previous article on Klaytn, the coin price bounced from the $1 support by displying a double bottom pattern. The token price sustained the breakout of this bullish pattern and started climbing towards the higher levels of the chart. Furthermore, the price again gave a breakout from a minor resistance level of $1.42, which can provide another quick entry opportunity for crypto traders.
about the EMAs: The KLAY price shows a strong bullish outlook as its price is trading higher than the crucial EMAs 20, 50, and 100 EMA. Moreover, the chart shows the 20 and 100 EMA can soon provide a bullish crossover, encouraging the ongoing rally.
The RSI value is at 62, indicating a bullish sentiment in KLAY coins. In addition , the RSI line has shown impressive growth in its value, projecting the growing strength of the market buyers.
The KLAY Coin In The 4hr Time Frame Chart
The KLAY coin chart shows its price has provided a candle closing above the resistance level of $1.42 and is currently trying to retest this level and give a positive outlook with a long lower price rejection candle. Furthermore, the next strong resistance this coin will face will be at $1.54. The current price for the KLAY coin at $1.43 is with an intraday loss of 0.56%.
The MACD indicator shows the MACD and signal lines are moving above the neutral zone (0.00), indicating the bullish sentiment in the coin.
Conclusion: From a technical perspective, the KLAY coin provides a strong bullish outlook for its price action and indicators, suggesting the start of a new rally. Thus, the crypto traders can look for some quick long opportunities when the price gives a breakout from such resistance levels.
Support $1.42
Resistance $1.54