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- Following a gradual ascent, the KLAY price is suffering from the conflict between bulls and bears for control of the daily price chart.
- The crypto asset is trading above the 20 and 50 days moving average.
- The KLAY/BTC pair is at 0.00001187 BTC which is at a small loss of 0.49%.
The KLAY price after a slow uptrend movement is suffering from the battle of bulls and bears for dominance over the daily price chart. This battle leads the price to trap in a sideways trend, in which after the bears now bulls are trying to push the price towards the resistance to register a successful breakout.
The trading volume of KLAY is still at a very small loss but needs to be focused on by the bulls as this helps in pumping the price. The coin needs to accumulate more buyers to make a breakout or else the bears are waiting for an opportunity to shatter the efforts of bulls and push for a breakdown.
The current price for one KLAY coin is moving at $0.25 which is at a loss of 7.26% in its market capitalization in the last 24 hrs. The coin has a trading volume of 84.9 million which is a small loss of 0.51% in the 24 hrs trading session and has a market cap of 772 million with a loss of 7.28%. The volume market cap ratio is .1097.
Technical Indicators’ Suggestions for KLAY
We can observe a fresh positive crossover by the multiple EMA over the daily chart, which shows the support in favor of bulls.
Looking at the Bollinger band indicator we can observe a neutral cloud, which makes prediction difficult for the next move. The MACD indicator shows the buyers’ line is moving below the seller’s signal line and we can get an idea of the domination of sellers from here which is also supported by the histograms. The relative strength index is also moving neutral showing the equality between the buyers and sellers. The RSI value is nearly equal to 55.
Conclusion
The KLAY price after a slow uptrend movement is suffering from the battle of bulls and bears for dominance over the daily price chart. The coin needs to accumulate more buyers to make a breakout or else the bears are waiting for an opportunity to shatter the efforts of the bulls. Observing the technical indicators we can observe neutrality showing the equal efforts by the bulls and bears for dominance.
Technical levels
Resistance levels: $0.33 and $0.38
Support levels: $0.28 and $0.23
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 the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.