- Klaytn price analysis is indicating bullish signals on the daily chart
- KLAY/USD build support below $1.30
- KLAY saw retracement to $1.35 earlier today
Klaytn price analysis is bullish for today as both a higher high and low was set over the last 24 hours. Therefore, as long as the $1.20 support holds, we expect KLAY/USD to increase and move towards further highs.
The cryptocurrency market traded in the red over the last 24 hours as bears took over the market momentum overnight. The market leader, Bitcoin, has declined by 3 percent, while Ethereum remains shed 6 percent. Solana (SOL) is among the worst performers, with a loss of 8.42 percent.
Klaytn price movement in the last 24 hours: Klaytn retraces to $1.20
KLAY/USD traded in a range of $1.2978 – $1.3390, indicating strong volatility over the last 24 hours. Trading volume has decreased by 2.32 percent and totals $105 million, while the total market cap stands at $3.64 billion, ranking the coin in 48th place overall.
KLAY/USD 4-hour chart: KLAY prepares for another rally?
On the 4-hour Klaytn price analysis chart, KLAY/USD looks to close bullish in preparation for further upside over the next 24 hours.
Klaytn price prediction is bullish today as a slightly higher low was set over the last 24 hours. Overall, KLAY/USD has gained more than 100 percent over the past month after a new swing low was set around $0.950 on the 20th of July.
Since the previous major swing high was broken earlier this month, the overall market structure has turned bullish again, and we can expect a lot more upside past the current high that was set yesterday.
However, after a strong rally early yesterday, the bulls were exhausted, failing to see much further upside above the $1.40 mark. Over the past few days, Klaytn’s price has established strong support, from which we should see a rally higher over the next 24 hours, with the $1.45 resistance as the next target.
Klaytn Price Analysis: Conclusion
Klaytn price analysis is bullish for today as a slightly higher low was set overnight after a brief spike higher. Since bulls have regained control today, we expect KLAY/USD to continue moving higher and try to reach the next resistance at $1.45 next.
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