KLAYUSD Potential for a strong +75% rally
Klaytn has been performing very well lately and hit this week the 1D MA200 (orange trend-line) for the first time in almost a month. It appears that its recovery can be fast-forward and the reason is that it hit and rebounded exactly on its long-term Buy Zone (green region on your chart).
Based on the RSI however it may still have a some way before registering a new All Time High (ATH) as first it needs to break above its 2.600 Resistance. That is based on a similar fractal from September 2020 - January 2021. It was when KLAY broke above its Resistance that rallied to its ATH. Until then, it gave trade opportunities for great short-term profit on its Buy Zone.
Such an opportunity for a major rally is approaching, as if the Lower Highs trend-line from the ATH breaks, most likely will target the 2.600 Resistance. That represents a +75% profit opportunity from the current levels.
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Based on the RSI however it may still have a some way before registering a new All Time High (ATH) as first it needs to break above its 2.600 Resistance. That is based on a similar fractal from September 2020 - January 2021. It was when KLAY broke above its Resistance that rallied to its ATH. Until then, it gave trade opportunities for great short-term profit on its Buy Zone.
Such an opportunity for a major rally is approaching, as if the Lower Highs trend-line from the ATH breaks, most likely will target the 2.600 Resistance. That represents a +75% profit opportunity from the current levels.
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** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **
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