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- BLUR token beats OpenSea in daily ethereum trading volume
- OpenSea a NFT marketplace drops creator royalty for competing with Blur
- Blur token price forming fresh higher high swings
Blur token prices are trading with bullish cues and bulls are trying to show its dominance by creating fresh higher high swings. However, the prices are near to the overbought zone and likely to see some consolidation in the coming days.
On February 15, non-fungible token(NFT) marketplace Blur had overtaken OpenSea in the daily ethereum trading volume which indicates that the competition for OpenSea will surely increase in the coming months. On the other hand, due to rising competition with blur, leading NFT marketplace OpenSea had announced that it will temporarily eliminate 2.5% fee on sales as well as cut down the creator royalty.
BLUR token investors seem confident about its future?
BLUR token prices had surprised its investors by generating more than 1300% returns in a week and still continuing the upward momentum by forming fresh higher high swings which shows that the investors are turning bullish and seem confident about the future outlook of Blur NFT marketplace. Recently, Blur token came into the spotlight when it surpassed the trading volume of OpenSea which triggered the positive sentiment in the prices and investors as well as traders rushed to buy the token at any price available in the market.
BLUR token had succeeded to push the price above the $1.00 which is quite interesting and clearly shows that investors are looking for a better alternative than OpenSea to invest their money in the NFT marketplace. However, the prices are overextended and likely to enter into the consolidation before deciding the further direction.On the higher side $1.5000 will be act as a immediate resistance for the bulls followed by next hurdle will be at $2.000 level
The technical indicators of the BLUR token like MACD had generated a positive crossover and sloping upward indicating bullishness to continue for the coming days whereas the RSI at 74 sloping sideways denotes that the prices are overbought and lacking momentum on the higher levels. On the other hand, if prices face rejection from higher levels then $1.0000 and $0.8000 will act as the demand zone for the bulls.
Summary
BLUR token prices have rewarded its investors with the massive gains of 1300% in the short period of time which shows that Blur NFT marketplace and aggregator platform has a huge potential in the future and token prices are expected to outperform as compared to its peers. The technical analysis suggests that the token prices seem to be overextended and likely to enter into consolidation before deciding the further direction.
Technical levels
Resistance levels : $1.5000 and $2.0000
Support levels : $1.0000 and $0.8000
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
