By Curtis Dye
Blur’s price forecast shows the market has been tumultuous this week as bulls and bears show their strengths and weaknesses. Hence, the BLUR/USDT currency pair hit weekly highs of $1.3801 and $1.3548 and lows of $0.8748 and $0.8997.
Nevertheless, throughout the last twenty-four hours, bulls have gotten the upper hand in the market mood, contributing to an increase in the price of BLUR/USDT. As a result, the price range for trading the BLUR/USDT pair is between $1.07 and $0.9149, with $1.07 acting as a resistance level and $0.9149 acting as a support level.
At the time of writing, the BLUR/USDT pair has risen by 7.13% to $1.03. In the previous 24 hours, the market capitalization climbed by 7.77% to $400 million, but trading volume declined by 45.96% to 318 million.
BLUR/USDT 24-hour chart (source: Tradingview)
According to the BLUR/USDT 1-hour chart, the uptrend momentum is robust, as evidenced by the Relative Strength Index (RSI), which has risen to 51.90, showing that the bulls are in charge of the market. Furthermore, the Moving Average Convergence Divergence (MACD) demonstrates a bullish crossover, with the MACD line crossing over the signal line, suggesting that momentum is rising.
Also read:As the Bollinger bands are linear, the market’s volatility has been relatively low and is now trading inside a predetermined range. The fact that the upper band is located at 1.0850 and the lower band is located at 0.9420 indicates that there is constant buying pressure in the market and that it may move in the near term.
Overall, these indicators point to a high buying urge in the market, and minimal volatility, which suggests that now would be a good time to make a purchase.
BLUR/USDT 2-hour chart (source: Tradingview)
The Bollinger bands on the 4-hour chart show that the market has been relatively stable and will likely stay so in the short term. Also, the BLUR/USDT price is toward the lower arm of the Bollinger band, indicating that selling pressure may prevail in the immediate term. The upper Bollinger band is $1.3321, and the lower band is $0.8744.
On the other hand, the Relative Strength Index (RSI) is at 43.72, suggesting a balanced market in terms of buyers and sellers. Yet, the RSI is presently going toward the oversold territory, telling that bears are taking control of market sentiment in the near term.
Meanwhile, the Moving Average Convergence Divergence (MACD) line is at -0.0288, indicating a short-term bearish bias since the MACD signal line is below the MACD line. Ultimately, the 4-hour chart indications suggest that the present market attitude is negative in the short term.
BLUR/USDT 4-hour chart (source: Tradingview)
Sentiment for BLUR/USDT tokens is mixed, with short-term signs indicating bearishness and long-term indicators indicating bullishness.
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