KLAY trading is within the channel at 64%
On a 3-day timeframe chart:
0.3190 - This level is formed by the stoppage of a downward trend and currently serves as resistance, hence its mirror-like nature. Also, from this level, the local upward trend has shifted to a downward one three times, thus making this a trend-breaking level. If this level is breached a fourth time, it could lead to a rally in the asset.
0.1901 - This is a correction level in the local upward trend, very important when the local downward trend is reversing, as is currently happening. It serves as support for the channel with a 64% step.
0.1404 - This is a global support level.
Take note: a rising channel is potentially forming, as the minimums and maximums are increasing.
0.3190 - This level is formed by the stoppage of a downward trend and currently serves as resistance, hence its mirror-like nature. Also, from this level, the local upward trend has shifted to a downward one three times, thus making this a trend-breaking level. If this level is breached a fourth time, it could lead to a rally in the asset.
0.1901 - This is a correction level in the local upward trend, very important when the local downward trend is reversing, as is currently happening. It serves as support for the channel with a 64% step.
0.1404 - This is a global support level.
Take note: a rising channel is potentially forming, as the minimums and maximums are increasing.
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