KLAY Price Analysis: KLAY/USD set to break above the $1.6 resistance

TL;DR Breakdown Klay price analysis is bullish today.The overall cryptocurrency market is bullish for the next 24 hours.Klay is currently trading at $1.1. KLAY Price Analysis: General price overview KLAY/USD picked off the five-day price analysis chart while the bulls had taken control of the market. The coin traded in a rising wedge forming several triangles. KLAY recorded a 25% gain last week. On the 5-day price analysis chart, the green bars seem to be more than the red ones. This is a good indication that the KLAY/USD market is trading in bullish momentum. On the daily chart, the KLAY/USD has formed a triangle descending channel, which has been developing since October. If we assume that this trend continues and we see a break into the upside of the channel’s resistance at $1.6, we can see another strong run-up in prices. At this point in time (and for quite some time now), there is simply too much uncertainty across the globe for solid investment decisions like these – so proceed with caution when investing in KLAY or any other coin/asset. Don’t bet more than you are prepared to lose. Our forecast foresees a consolidation in the price for the KLAY/USD pair, with potential support at $1.20 and resistance at $1.5. On the other hand, we expect the token to consolidate or retrace down and test $1.80 on the upswing, although retreating downwards is less likely to happen. The chances the price will break belo...