KLAY shines above $1 support with bulls consolidating momentum for next $1.5 target
After a stellar run over the past 24 hours, KuCoin has finally found a strong support zone at $1. The most commonly recommended trade for now is to go long pending a breakout above the $1.5 psychological resistance.
After breaking through $1.00 resistance just minutes ago, the price of KLAY has consolidated and has moved closer to further gains. This is a new series of key support where the bulls are fighting for the price to rise above $1.00. The key resistance is $1.25, which was recently crossed with a buy volume of 1.15M. If the bulls can move the price above this key resistance level, there is a better chance of a $1.50-1.75 extension setup.
Heres to another week of bitcoin price action, as the price of BTC seems to be consolidating near support. All of the major cryptocurrencies are moving sideways in a consolidation pattern, as all of the bigger digital currencies are getting ready to make their next move.
Summary of the situation
At the time of writing this analysis, Klaytn prices are still around EMA 20.
Bearish indicators are the MACD and the narrowed Bollinger Bands.
The Klaytn is expected to exceed its all-time high in the near future.
Price analysis on clay: General price analysis
Klaytn (KLAY) has gone from being the crypto-currency of the day to closing around the $1 support level. Within 24 hours of listing on Binance, the currency rose 21%. The Klaytn team recently announced that Korea’s Shinhan Bank has joined the blockchain board of directors.
At the time of writing this price analysis of Klaytn, KLAY is still around its 20-day exponential moving average and a long low candlestick of $0.98.
Bulls can overcome price resistance and begin one of two recovery phases: Lure buyers to upper resistance and mark the 200-day simple moving average at $1.51 or initiate a rally from $0.98 to $1.29. The currency should then build significant accumulation towards $1.29 and challenge the following price barriers.
Today’s Klaytn price analysis is bullish as the bears desperately try to push the currency below $1. The currency broke out of yesterday’s uptrend and peaked below $1,003 per ounce, indicating the start of selling pressure above psychological support. The hourly chart shows a bullish cross on the convergence-divergence moving averages, indicating that buyers are optimistic and ready to tackle the $1.2 level.
Klaytn price changes in the last 24 hours
Shares of Klaytn (KLAY) did not start the day well, slipping to an early morning low of $0.97. The bears failed to push the price lower, however, as it only briefly hovered around the lows before climbing back above the critical $1 support level. The model is trying to complete the head and handle pattern on the 4 o’clock chart. Its completion could lead to price consolidation above $1.1 and $1.50.
Klaytn began trading on the daily chart with an opening price of $1.028, formed a daily low of $0.97 and a daily high of $1.0300. The intraday spread is quite low, indicating low volatility. The RSI has been in the neutral zone since the beginning of the day. Other bearish indicators are the MACD and the narrowed Bollinger Bands.
At the time of writing, the exchange rate of the Klaytn (KLAY) to the US dollar is $1.0053. There are signs of a breakout on the 4-hour chart as the sleeping bears signal the end of a downward correction. The one dollar price serves as a support and rallying point for new Klay buyers. The currency has yet to reach its all-time high of $4.35 in April, after which it lost more than 75% of its market price.
Conclusion on price analysis Kleitn: What can you expect?
Klaytn stock is expected to cross its all-time high in the near future. Analysts believe that the coin has not completed its bull market before facing a general bearish cycle in the crypto-currency market. At the next rally, the coin could hit targets above $5 and begin its journey to $10.
Denial. The information provided does not constitute commercial advice. .com accepts no responsibility for investments made on the basis of information provided on this site. We strongly recommend that you conduct independent research and/or consult a qualified expert before making any investment decision.For the last four days, BTC/USD has been consolidating sideways above a major support area at $1,400.00, with a few minor fluctuations. 1-hr chart: As we can see, the price has made it back above this support level, but is currently failing to breakout. The price remains trapped in a range of $1,400. There is a lot of consolidation going on with the top 10% of bulls in action, as this consolidation could last for a few days, or it could be the start of a new uptrend.. Read more about klaytn crypto where to buy and let us know what you think.
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