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- 1 Balancer price prediction stays bearish till it trades below $4.00.
- 2 BAL price is declining by facing resistance at the 50-day EMA.
- 3 Balancer crypto price is trading near the yearly low.
Balancer price prediction is bearish for the short term till BAL crypto price trades below the $4.00 level. The price pattern of the Balancer crypto is bearish and sellers dominance is visible on the higher levels.
BAL price is trading below the 200-day EMA showcase downtrend. Recently, buyers tried to push the price above the 50-day EMA to reverse the short-term trend. But the attempt was not powerful so the price faced rejection and reverted down.
In mid-August, the Balancer price broke down the crucial support of $4 which hurt the investors’ sentiment and invited further decline. Gradually, the price declined and hit a multi-year low.
In the last two months, Balance crypto price is spending time in the range between $3.000 to $3.690. If it continues to consolidate for some more time, then it might be an indication of base formation.
At the time of writing, Balancer price is trading at $3.031 with an intraday rise of 1.21%. The 24-hour volume to market cap is 2.52%. The pair of BAL/BTC is trading at 0.0001130 with an intraday rise of 1.07%.
Will Balancer Price Reach $4 By November End?
Balancer price prediction suggests more downside is possible in the coming months. The overall crypto market looks bearish which might hurt the market sentiment and may fuel the downfall in Balancer.
Till BAL price is trading below $4.00, it is expected to remain in the bear grip. Any short-term pullback will be doubtful until buyers are able to break the $4.00 hurdle.
On the lower side, $3.00 is acting as immediate support for bulls. If the bears succeed in pulling the price below $3.00, then another round of sell-off may come.
BAL Crypto Price Needs to Form a Base Before Reversal
BAL crypto price forming bearish patterns on multiple time frames. It has corrected a lot from the 2023 high but still, no signs of a downfall halt are visible. The price needs to form a strong base before reversing upward else sellers will continue to dominate.
The supertend says till the price is below $3.394 the short trend will remain down. The MACD displayed a negative crossover and the histogram bar is red indicating bearish momentum might continue. However, the RSI at 39 slopes upward denoting short-term pullback in BAL crypto is possible.
Conclusion
Balancer price prediction is bearish for the next few months. Short-term pullback is facing resistance indicating sellers are active on higher levels.
The technical analysis suggests BAL crypto price is in bears’ grip and more downside is possible.
Technical Levels
- Resistance levels: $3.690 and $4.000
- Support levels: $3.000 and $2.500
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. 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.
