Klaytn

The post <a href="https://coinpedia.org/price-analysis/klay-price-eyes-a-40-hike-if-this-level-breaks-today/">KLAY Price Eyes A 40% Hike If This Level Breaks Today</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
With a short pullback following the remarkable jump of more than 120% in Q4 2023, the KLAY price trend forms a bearish channel. In the long-term picture, Klaytn shows a correction to the 61.80% Fibonacci level from the height of the $0.25 mark.&nbsp; 
The bearish dominance at the psychological mark of $0.25 led to the previous downfall. However, the recent comeback shows a strong bullish momentum in action and is ready for a trend reversal.&nbsp; 
Take a look at our <a href="https://coinpedia.org/price-prediction/klaytn-klay-price-prediction/">KLAY price prediction</a> for more information on the long-term price projections. 
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 <img decoding="async" width="1600" height="768" src="https://image.coinpedia.org/wp-content/uploads/2024/01/17110434/image-72.png" alt="" class="wp-image-261888" srcset="https://image.coinpedia.org/wp-content/uploads/2024/01/17110434/image-72.png 1600w, https://image.coinpedia.org/wp-content/uploads/2024/01/17110434/image-72-300x144.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/01/17110434/image-72-1024x492.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/01/17110434/image-72-768x369.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/01/17110434/image-72-1536x737.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/01/17110434/image-72-150x72.png 150w" sizes="(max-width: 1600px) 100vw, 1600px">
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Source- <a href="https://www.tradingview.com/x/5pNrOBUC/">Tradingview</a> 
With the recent crash of 35% in KLAY price over the past few weeks, the buyers are set for a trend reversal with an overnight jump. Currently, the bullish reversal reclaims the 200-day EMA and shows an overnight jump of 17% to challenge the overhead trendline.&nbsp; 
Further, the bullish reversal crosses the 23.60% Fibonacci level and reclaims the $0.20 psychological barrier. However, the higher price rejection leading to long wicks delay the bullish breakout.&nbsp; 
Currently, the KLAY price trades at $0.226 and forms a Doji candle with minimal move except for a long wick formation. Thus, the daily candle reflects a strong overhead supply and warns of a reversal.&nbsp;&nbsp; 
Technical Indicators: 
RSI Indicator: The daily RSI line shows a bullish trend continuation, crossing the halfway line, reflecting a growth in positive momentum for Klaytn. 
EMA: The 50D EMA regains a bullish stride and restarts the positive trend. Further, this adds dynamic support in the picture to support the Klaytn price uptrend. 
<h2 class="wp-block-heading" id="h-will-the-klay-price-give-a-bullish-break">Will The KLAY Price Give A Bullish Break?</h2> 
KLAY price is showcasing a bullish trend in motion with the overnight recovery and teases a breakout shortly. However, the prominent resistance trendline may delay the breakout event. However, the recent support for increased trading volume bolsters the breakout thesis.&nbsp; 
In case the buyers manage to surpass the trendline, the breakout rally can surpass the previous swing close at $0.25. In doing so, the path to $0.30 will be clear.&nbsp;

KLAY Price Eyes A 40% Hike If This Level Breaks Today

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