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- Klaytn’s price continued to rally on Saturday, rallying over 24% in a single day.
- The digital asset halted near the 200-day moving average during the rally.
- On Balance Volume (OBV) reaches its 6 month high of 972.5M.
Klaytn crypto is maintaining its all-high momentum this week. This consistent price rally shows that the bears have already covered their shorts near the monthly lows. It provides fuel to investors, so buyers increase their stake in this cryptocurrency.
Klaytn crypto’s market cap is slowly increasing due to huge buyer participation. Last night, it was reported at $929 million, an increase of 21.2% over the past 24 hours. Buyers need another $71 million to celebrate a $1 billion market cap. It looks like this could be a celebration in November if buyers retain some bullish odds.
Against the USDT pair, the Klaytn price faced a retracement phase in intraday trading. Thus it is down 5.28% today, while it is trading at $0.3013 mark. The trading volume appears higher compared to previous weeks. Meanwhile, speculators saw a 100% hike in trading volume overnight, reached at $353 Million. As a result, On Balance Volume (OBV) reached its 6 months highest level of 972.5 M, suggesting a highly volatile market nowadays.
Over dailly chart, buyers maintain crypto value above 20,50 and 100 days moving average, but price takes a pause close to 200 day moving average during rally. This can make selling pressure for a couple of days. Besides, the ideological round level of $0.10 has a key support level of bulls.
RSI reached an extreme overbought zone. Now its peak stays at 72 level, but shows a trend reversal sign as the peak turned down. On the flip side, there is no any weak sign from the MACD indicator, showing a continuous uptrend.
Conclusion
The Klaytn price is taking pause just below the 200 day moving average after a continuous rally. Above this bullish hurdle, the $0.50 level is observed as a next stop.
Support level – $0.2 and $0.1
Resistance level – $0.35 and $0.50
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
