Blur (BLUR) is gaining traction among crypto investors due to its recent impressive growth trend. With the increase in demand, Blur has shown a bullish trend over the last 24 hours, making gains of 3%, Currently trading at $0.72.
In the daily timeframe, the Blur token has been performing well, showing an upward price movement in the last 24 hours. The Relative Strength Index (RSI) is indicating the token’s buying strength is increasing, and the Moving Average Convergence Divergence (MACD) also points toward a bullish trend.
The Blur-USD pair’s immediate resistance is $0.86, and if the bullish momentum persists, it might move towards the next resistance at the $1.00 level. On the other hand, if the momentum falls, the price might re-test the previous support at the $0.66 level.
The coin is currently trading above its 50-day moving average with a MACD indicator that is suggesting the potential onset of bullish momentum. With a bullish sentiment from the broader market, a move to the next resistance level of $1.00 could be achievable in the short term.
The RSI currently sits at 46.88%, which suggests that buying pressure could still gain momentum, but may see resistance at the current price level of $0.72.
In a short-term price reversal, the first level of support is found at the 50-day SMA of $0.63. A break of this level could lead to a test of the next support level at the previous resistance of $0.45. On the other hand, if the coin continues the upward momentum, it could face a resistance at $0.84, which was the previous three-month high.
Conclusion
In conclusion, Blur has seen a bullish increase in the past few days, with the potential to continue this trend in the short term. The support levels for the coin are found at $0.63 and $0.45, while resistance levels for Blur are present at $0.84 and $1.00. However, with the cryptocurrency market being volatile, it is important to keep a close eye on the coin’s price changes and news developments.
