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- 1 Klaytn price prediction is bullish for the next few months.
- 2 KLAY price approaches the 50-day EMA and attempts for a breakout.
- 3 Klaytn crypto price is recovering from the yearly low.
Klaytn price prediction is bullish for the next few months and suggests that a pullback rally is possible. KLAY price recovered approximately 13% from the recent low showing that buyers are getting active.
Klaytn price is trading below the 200-day EMA; showcasing that the positional trend is in the downward direction.
However, the price is near the 50-day EMA, and if buyers succeed in sustaining above it, then the short-term trend might reverse upward.
KLAY price has not performed well in the past few months and traded with a bearish bias. It disappointed the long-term investors and underperformed the overall crypto market.
At present, the KLAY crypto price looks oversold so the possibility of continuing the recovery is high.
The trading volume of the Klaytn crypto is on the rise but the price did not show a massive surge. It indicates that some genuine buyers and crypto whales are accumulating from the lower levels. Therefore, in the coming months, the price is likely to be positively impacted.
At the time of writing, KLAY price is trading at $0.1201 with an intraday rise of 0.33%. The 24-hour volume to market cap is 2.61%.
Will Klaytn Price Continue the Recovery?
Klaytn price prediction suggests a rise in the long-term and buyers seem to be returning back on track. If the crypto leaders BTC and ETH price recovers in the coming months, then market sentiment will improve. Moreover, it may also positively affect the price of KLAY and other altcoins.
Till KLAY crypto price trades below $0.1434, it is expected to remain on the sellers’ radar. However, if the buyers succeed in breaking the $0.1434 hurdle, then a sharp rise of 10% to 20% is possible.
KLAY Price Showed Initial Signs of Reversal
KLAY price forms a bullish hammer candle on the weekly timeframe which shows initial signs of reversal. However, the confirmation of the reversal will come when buyers succeed in giving the follow-up momentum.
The RSI at 50 pointing upward denotes the strength and more upside is pending. The MACD curve is sloping upward and the histogram bar is green indicating bullish momentum might continue. The supertend says the short-term trend is down till it trades below $0.1255.
Conclusion
Klaytn price prediction is bullish for November as well as for December. The correction seems to have taken a halt and genuine buyers are accumulating from lower levels.
The technical analysis suggests that KLAY price is turning bullish but the confirmation will come when buyers are able to break the $0.1434 hurdle.
Technical Levels
- Resistance levels: $0.1434 and $0.1600
- Support levels: $0.1073 and $0.1000
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 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.
