Following a recent bounce off a key level, Klay increased by 17% today and slightly reclaimed its previous high. It has similarly joined in the latest recovery amongst the low-cap altcoins.
Klay halted buying at $0.278 last month and went through a broad correction two weeks ago. It ended that correction phase at around $0.153 last week and slowly bounced back.
It consolidated and gathered momentum for a week and resumed buying at full speed. The latest price increase has brought a full recovery back to the price as it pushed slightly above the monthly high.
The crypto faced rejection and sharply pulled back. Despite that, the price is still looking strong on a daily scale. It may resume positive actions soon. In the course of that, it must flip the recent high to confirm more upward rally.
If by any chance Klay loses the monthly low, the price will most likely collapse to the bottom, where a fresh buy could take place.
Regardless of the above, Klay currently looks poise for a bigger price movement on the daily graph. A continuous price rejection could result in a drop and at the same time invalidate this bullish signal with a downward rally.
Klay’s Key Levels To Watch
Klay has retraced briefly from its current daily high of $0.264. If it retakes this high, the price could advance to the $0.330 level – marked as resistance last month. The $0.376 level would be the next resistance to keep in mind if the price breaks higher.
There’s close support at the $0.21 level. A drop below this level could bring the price back to the monthly low of $0.15 before dipping to the $0.117 level.
Key Resistance Levels: $0.279, $0.330, $0.376
Key Support Levels: $0.21, $0.153, $0.117
- Spot Price: $0.22
- Trend: Bullish
- Volatility: Moderate
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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