Klaytn Price Prediction: KLAY Soars 23% on LINE-Based Merger as This New AI Platform Heads for Selloff.

adminJanuary 18, 2024

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Klaytn price has surged 23% in the last 24 hours. Traded for $0.235 As of 5:42 a.m. ET, trading volume had increased 1,524% to $139 million.

The surge follows the recent merger announcement between Klaytn, a layer 1 blockchain network backed by South Korean internet giant Kakao, and Finschia, a Japanese blockchain platform created by messaging giant LINE.

We weren’t kidding when we said 2024 would be a tough year. We have just submitted a governance proposal to merge 2024. #clayton and @Pinskia Creating Asia’s largest Web3 ecosystem with blockchain! More details below 🧵https://t.co/rNsqxxjBsj pic.twitter.com/mvJHPGdYof
— Klaytn (@klaytn_official) January 16, 2024

The merger of Klaytn and LINE’s public chain project, Finschia, was proposed to combine the strengths of both platforms and create a powerful blockchain ecosystem.

The goal is to provide a comprehensive suite of services and capabilities to meet the growing demand for blockchain-based solutions in the region.

According to presentationThe merger plans to build a new blockchain that supports both the EVM and CosmWasm frameworks.

two people highlighted From the statement The upcoming mainnet will succeed Klaytn’s KakaoTalk integration and Finschia’s LINE integration, serving a massive user base of over 250 million digital wallets across 420+ decentralized apps.

Klaytn price cup and handle pattern indicates continuation of a bullish trend.

Klaytn price chart analysis. Source: Tradingview.com — KLAYUSD chart analysis. Source: Tradingview.com

that much clayton price This is a sign of a continuation of the bullish trend as the price forms a cup handle pattern.

The $0.12 support zone gave bulls a platform to recover losses incurred during the price decline. Despite the pullback of the $0.27 resistance, the bulls are showing resilience and are aiming to bounce back from the $0.16 support zone and push the price up by x distance of the cup depth.

Technical indicators remain bullish as the price trades above the 50-day and 200-day simple moving averages (SMAs), confirming the bullish momentum with a golden cross occurring at the pivotal level of $0.153.

The relative strength index (RSI) rebounded from the oversold level of 30 and exceeded the midline of 50. If this momentum continues, RSI could reach the overbought level of 70.

Klaytn price prediction

KLAY’s general trend remains optimistic. The presence of the cup and handle pattern provides a better foundation for the bulls to push the price higher, targeting $0.43.

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