- The Klaytn coin traders are in the retracement phase and are about to display a breakout.
- The RSI indicator suggests an uptrend for the KLAY coin over the daily price scale.
- The KLAY coin belonging to the Bitcoin pair is 1.4% down at 0.0000126 Satoshis.
The Klaytn coin is facing a retracement phase nowadays. Although, altcoin shows an uptrend on a higher time frame as price action draws higher-lows formation. Recently, KLAY crypto has broken the narrow horizontal range, which was valid for over 40 days.
At the time of writing, the KLAY coin is trading at the $0.292 mark. In late July, buyers saw a rapid rally, which led the altcoin price to 40 days high at $0.335 Mark on 29 July. After an uptrend, buyers struggle with the retracement phase for past seven days.
In the 4-hour time frame, the KLAY coin moves lower below the falling trendline (above the chart). It seems a bullish breakout may occur soon as bulls aim to break this bullish hurdle. Buyers may see more uptrend toward the $0.50 -resistance level ahead.
The Market Cap continues getting rejected to cross the $1 Billion worth, in fact, it’s slightly down at $872 Million as per the last 24-hours data of CMC. Moreover, the KLAY coin belonging to the Bitcoin pair is 1.4% down at 0.0000126 Satoshis.
RSI Indicator Headed Towards the Overbought Zone
The RSI indicator favors the uptrend sign for Klaytn coin as its peak remains above the semi-line. Recently, the given indicator reversed from the previous swing high. Similarly, the MACD indicator increases higher in the positive region regarding the daily price scale.
ALSO READ – South Korean Banks On Radar As Regulator Investigates Kimchi Premium Bitcoin ‘Irregularities’
The Klaytn coin is about to reflect the bullish breakout above the bearish trendline. Amid the uptrend, buyers may see a pullback near the previous weekly swing high before hitting the key resistance level of $0.50.
Support level – $0.25 and $0.2
Resistance level – $0.35 and $0.5
The views and opinions stated by the author, or any people named in this article, are for informational ideas only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
- Polkadot Price Prediction: Will the Buyer’s Accumulation Maintain? - March 21, 2023 7:30 pm EDT
- NFT Wash Trading Sees an Incredible Surge in Volume by 126% - March 21, 2023 5:30 pm EDT
- GMX Deploying Protocol on Coinbase’s Base Affirms Community - March 21, 2023 4:30 pm EDT