.KLAY Price Analysis – Klaytn (KLAY) is in a strong uptrend since mid-February. Altcoin recently completed a minor correction as the bulls bought the 20-day EMA ($ 2.76) drop on March 26, indicating that sentiment remains positive.
The bulls are currently trying to continue the uptrend by pushing the price to an all-time high of $ 3.50. If they are successful, the KLAY / USD rate could rise to $ 4.86. The upward moving averages and the RSI in the overbought zone suggest that the path of least resistance is up.
This outlook will become invalid if the price drops and drops below the 20-day EMA. Such an act will suggest a possible change of emotion. Initial support is $ 2.58 and a break below this level could start a deeper correction.
The 4-hour chart shows that the moving averages have completed a bullish pass and the RSI has jumped into the overbought zone and the bulls are gaining the upper hand. If the bulls can push the price above and sustain the overall resistance of $ 3.50, the momentum could increase further.
Even if the price drops from $ 3.50, even if it finds support at the 20-EMA, it will show that sentiment is on the rise. A strong recovery of this support will increase the likelihood of an uptrend resumption.
Conversely, a break below the moving averages could pull the price into the critical support of $ 2.60.
