- The KLAY coin shows the 20-and-50-day EMAs bullish crossover
- The KLAY/BTC pair trades at 0.00003268 BTC with a loss of 6.08%
- The 24-hr trading volume for the KLAY coin is $486.4 Million, indicating a 302.6% gain
As mentioned in my previous article on Klaytn, the coin price showed a remarkable V-shaped recovery in its technical chart, indicating the bulls are back in business. On October 9th, the coin price was able to reach the ATH high of $2, encouraging the crypto traders for a bullish breakout. However, what happened was wilder than any KLAY coin trader would have expected, as the price tasted the high of $4.38 that day.
Concerning the EMAs: The KLAY price shows a strong bullish outlook as its price is trading high above the crucial EMAs 20, 50, and 100 EMA. Moreover, the chart shows the 20 and 50 EMA can soon provide a bullish crossover, attracting more buyers to the coin.
The RSI value is at 71, indicating a bullish sentiment in KLAY coins.
The KLAY Coin Displays A Fakeout From The $2 Mark.
Even after displaying such intense buying pressure that the KLAY coin price reached a peak of $3.8, theand the seller immediately neutralized the price as the daily candle closedgave it closing below the $2 mark. The current price for the KLAY coin is $1.8at $1.8, with an intraday loss of 4.5%.
The MACD indicator shows the MACD and signal lines movinglines are moving above the neutral zone (0.00), indicating the bullish sentiment in the coin. However, these lines are also on the verge of giving a bearish crossover, projecting a sell signal for traders.
Conclusion: From a technical perspective, the overall trend of the KLAY token is still bullish. However, with all the chaos the coin experienced that day, it seems better to let the coin price stabilize and decide which it wants to go, before thinking for a newfor new position in this coin.
Support $1.67
Traditional pivot levels
Resistance $2