Is it dinner at dawn for Klaytn (KLAY)? Or the intraday gains are set to continue?

Klayton (KLAY) may be a lesser-known cryptocurrency. However, it has made a name for itself in the early metaverse sector. This is after the native token KLAY more than doubled in value in a day after a community suggestion.

KLAY surged to $0.28 on Oct. 23 from a low of $0.13. Spot checks show the token has been in a bear market since October 2021. Can Tokens Keep Soaring?

As shown earlier, Clayton is metaverse sector The SandBox and Decentraland dominate. However, this is a publicly owned blockchain with forays into non-fungible tokens, games, and entertainment. The blockchain will be rebuilt into the metaverse scope, allowing users to build, play, and work in virtual environments.

On top of that, Clayton is lining up milestones for the next two years. This includes ensuring blockchain he Ethereum compatibility and bringing changes to developer updates and governance. The latest gains on Native His Token reflect new updates to the network’s tokennomics.

According to an October 23 announcement, Klaytn will cut block rewards by a third. The block reward is now 6.4 KLAY, up from 9.6 KLAY previously. The team attributes this shift to global macroeconomic conditions. The move will therefore build sustained growth and attract demand for clay. This announcement has increased interest in the token.

KLAY surges above moving averages as price rises

Source TradingView

From a technical lens, KLAY has broken above the moving averages amid significant buyer interest. The cryptocurrency has approached overbought levels as the price has doubled.

However, the bullish momentum has since stalled and KLAY is trading at $0.196. From a technical perspective, resistance is near $0.25 to $0.30. So the price is below it.

Should I buy clay?

we think buy clay Now may be a premature decision. No bullish momentum has been confirmed to indicate that the rally is sustainable. If the momentum continues and the token successfully settles his $0.30, it could attract buyers.

Where to buy clay

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