Could KLAY Fly Higher After Hitting ATL Ever?
The Klaytn (KLAY) has gained 32.69% this week, and after a long wait, the asset has responded to buyers. The resulting pattern was a falling wedge pattern of its price action.
At press time, it ranks 95th in terms of market cap amounts to $647.454 Million. Recently, on X, they shared that they have geared for the Kaia mainnet launch on August 29th from the merger of Klaytn and Finschia. This optimism could be one of the many reasons, responsible for witnessed growth in the asset price.
If the optimism continues the price could continue rallying higher. As of writing, the intraday some bears activity was noticed with an intraday dip of 1%, where it tradaed at $0.1705. The spot volume inflow has taken a hit, too, by 36.31%, which could be a probability that KLAY could make a pullback or some consolidation for rally continuation.
KLAYUSD trade ideas
Klaytn (KLAY)Klaytn (KLAY)
Klaytn has emerged as a standout performer among the top gainers capturing the interest of investors. with a nearly 20% rise, Klaytn claimed the third spot among all beating several altcoins.
From a technical standpoint, KLAY price has surpassed the 20 and 50 day Exponential moving average indicating a positive trend in the short term. However, the price still lags 9.2% from the 200 days indicating a bearish trend prevailing in the long term.
Moreover, the bulls are dominating in the short term which if resumed may result in a bullish reversal above the 20o day EMA at $0.18 level. However, if KLAY price loses momentum and slips below $0.14 level, it may invalidate any bullish reversal and the price may drop more.
