- KLIMA Coin Price is moving in a style of quick strikes.
- The technical summary suggests selling at the current trading phase.
Founded in 2021, KlimaDAO (KLIMA) accelerates climate finance on a global scale by making infrastructure for transparent, neutral, and digital carbon market. It works as a protocol to facilitate a market for real world assets (RWA) and carbon credits. KlimaDAO uses DeFi 2.0 mechanics to maintain protocol owned liquidity and providing sustainable foundation for ReFi ecosystem.
Price Movements of the KLIMA Coin
On May 5, 2023, the KLIMA coin price moved up to $9.7799 with a quick strike. As a result, it closed below the major support level of $1.8956 which became a pivotal point for the formation of a downtrend.
KLIMA coin has observed a decline of over 70% during the six month trading session. The price took immediate support on $1.5578 level after the breakdown of $1.8956 major support. In June 21, the price made a quick strike down to $0.0996.
After these quick strike shots, the buyers and sellers became more aware of the price action levels. This led the KLIMA coin price in series of these quick strikes. However, these strikes are very much similar to pump n dump technique.
Although, the KLIMA coin price has always been directed by the regular candles not by these quick strikes. So, in this case, it is moving in a downtrend while making quick strikes. At present, KlimaDAO coin price is at $0.6393.
Technical Analysis of the KLIMA Coin
The KLIMA coin price is moving below the 50-day EMA by displaying a downtrend. In a closer look, the 50-day EMA has become a trend leader for the price and is moving closer to it. Currently, the 50-day EMA is moving at the $0.7698 level.
At press time, the KLIMA coin price is sustaining above the $0.6054 support level. That level is preventing the current coin price from falling. Previously, the price made an attempt to reach above the $1.2690 quick strike level but it failed to do so. Recently, it faced resistance from the $0.7583 immediate resistance level which can led KLIMA price to fall further.
Moreover, the relative strength indexx (RSI) is showing bullish divergence in the KLIMA price momentum. However, the oscillators are indicating neutrality in signals. At present, the RSI is at 36.47 below the signal line.
Conclusion
Overall, the KLIMA coin price is moving in a downward direction. It has been making some quick strikes into both directions. The 50-day EMA is moving above the price also reflects downtrend. Therefore, the price prediction for the KLIMA coin is bearish because regular candles are forming downtrend price actions. However, for the quick strike profit booking upto $0.9433, buyers may get chance after the breakdown of $0.6054 support level.
Technical Levels
- Resistance levels: $0.7583 and $1.2690
- Support levels: $0.6054 and $0.1645
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or any other advice. Investing in or trading crypto assets comes with the risk of financial loss.