- Klaytn price increased by 13% in the last 24-hours while the price is trading at the mark of $0.1885.
- KLAY crypto remains above the middle band of the bollinger band indicators on the daily chart.
- Trading volume suddenly increased by 170% overnight, to a reported $74 million.
Klaytn crypto price is reaching towards the buyers’ safe zone after the consolidation phase. KLAY price was declining steadily after it retook the $0.32 resistance level. This major bullish hurdle has more than doubled the bearish trend over the last four months. If the bulls maintain stability in the ongoing trend, there is a possibility of more than 60% rally.
Amidst the downtrend, KLAY crypto reached a yearly low of $0.12 on October 21 and was the lowest bottom. Later, the bears again tried to drag the price of the cryptocurrency, but only met with disappointment. Thus, buyers reversed the downtrend above the previous swing low and attracted a higher-low formation on the daily price scale.
At the time of writing, the Klaytn coin is trading at $0.1883 mark along with 3.13% intraday gain. The market capitalization reached $571 Million as per overnight data of CMC, up 13%. Amid higher-low formation buyers are drawing a third continuous bullish candle this week, meanwhile weekly gain spotted by 13.3% at the time.
Till last week, trading volume was low compared to other trading sessions, but suddenly volume suddenly increased 170% overnight, reported at $74 Million. Therefore, KLAY crypto stays above the mid band of bollinger band indicators over the daily chart. And this bullish rally may continue until the upper band of the BB indicator.
Daily RSI just escaped the semi-line of it and now it’s present at 51.5 mark. This soft bullish sign may help buyers make more profit from the monthly low. Moreover, the MACD line has overlapped the signal line (Blue) and now it favors bulls.
Conclusion
This three days constant bullish gain provides support to new long-position makers. Trading volume increases during higher-low formation, a good sign for a healthy trend. Buyers must maintain the Klaytn price above the mid-band Bollinger Band indicator.
Support level – $0.15 and $0.10
Resistance level – $0.30 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.
Source: https://www.thecoinrepublic.com/2022/11/24/klaytn-price-prediction-klay-crypto-needs-more-hasten-to-hit-60-days-high/