KLAY/USDT

The bulls will try to pierce the overhead resistance at $0.34. If they do that, the KLAY/USDT pair could pick up momentum and soar to the psychological resistance at $0.50. Such a move will signal a potential trend change.

If the price turns down from $0.34, it will indicate that bears are fiercely protecting the level. That could again pull the price down to the 20-day EMA. A break below this level could indicate that the pair may spend some more time in the basing pattern.

The bulls arrested the pullback near the 61.8% Fibonacci retracement of $0.26 and started a recovery. There is a minor resistance at $0.32 but if this level is crossed, the pair could attempt a rally to $0.34 and thereafter to $0.37.

On the other hand, if the price turns down from the overhead resistance, it will suggest that bears are selling on rallies. That may enhance the prospects of a break below $0.26. If that happens, the pair may slide to $0.22.