- The Klaytn coin has traded higher for the last three trading sessions.
- KLAY crypto price is hovering above the resistance of the 0.0306-pivot point indicator.
- The Klaytn coin belonging to the bitcoin pair is up 12.7% at 0.00001264 Satoshis.
The klaytn coin appears to be bullish this week as the daily price candle shows a higher-low and higher-higher formation. Earlier this week, KLAY crypto was trading under a sideways trend.
The Klaytn coin has been trending bullish since last week, as buyers reversed the altoicn price near its 2022 lows. Price action is drawing a Dragonfly Doji candle near the 2022 lows on the weekly time frame. This could be one of the reasons behind the rapid rise of the KLAY coin.
At that time, KLAY Coin is resisting the 0.306 level of the Pivot Points indicator during the daily price graph. This is the most immediate resistance, buyers need to break this bullish barrier as soon as possible. Amidst the high momentum, trading volume is also gradually increasing.
At the same time, at the time of writing, the Klayton token was trading at the $0.302 mark against USDT. Thus, the coin is rising 20% higher this week. In the last 24 hours, the market cap of KLAY crypto has increased by 17% to $864 million according to CMC. Furthermore, the Klaytn coin belonging to the bitcoin pair is up 12.7% at 0.00001264 Satoshis.
The klaytn coin is looking above the green area of the super trend indicator. Similarly, the RSI indicator is staying above the semi-line on the daily price scale. Besides, the MACD is still trading below the neutral level.
Conclusion
The Klaytn coin is trading in favor of the buyers as it is looking above the green zone of the Super Trend indicator. Meanwhile, the technical indicator also indicators bullish signs.
Support level – $0.25 and $0.2
Resistance level – $0.35 and $0.5
Disclaimer
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.
Source: https://www.thecoinrepublic.com/2022/07/29/klaytn-price-analysis-klay-bulls-follow-buying-on-decline-is-it-time-to-buy-crypto/