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- 1 Blur price dragged to the 52 week low mark of $0.4000, displaying a selloff.
- 2 Technical indicators suggest a pullback lay ahead.
The Blur token has retested its crucial demand zone trajectory of $0.4000 and is anticipating a rebound for the short term. Moreover, the token has settled the selloff and witnessed a rebound over 6% in the intraday session. This pullback is an early indication that the token has bottomed out and is ready for a sharp recovery in the upcoming sessions.
At press time, the Blur token (BLUR) price traded at $0.4035 with an intraday gain of 5.46%, reflecting neutrality on the charts. It has a monthly return ratio of -24.77% and -0.71% on a yearly basis. The pair of BLUR/BTC is at 0.00000622 BTC, and the market cap is $620.19 Million. Analysts are neutral and suggest that the Blur token may regain momentum and will retain the upside of $0.4500 soon.
Blur Price Volume Profile On Daily Charts
The daily charts of Blur token showcases a follow-on decline over the past few trading sessions, and sellers have dominated the battle. Moreover, the price action replicates a notable selloff over 45% in the last month. The intraday trading volume dropped over 4.35% to $54.56 Million.
Price Volatility and Weighted Sentiment Outlook
Following the price rebound in the intraday session, the token displayed a spike over 15.44% in the price volatility curve and reached 0.023%. Similarly, the weighted sentiment data witnessed an intense bounce over 54.89% and reached the positive trajectory near 0.723.
Social Dominance & “X” Followers Overview
Social dominance data noted a drop and rolled over 3.40% to 0.003%, noting a decrease in the discussion reports. Similarly, the X followers’ data replicated a decline and dropped over 63.20% to -805.
Total Open Interest and Holders Data Insights
The derivative data signifies long buildup activity and is reflecting a pullback in the intraday session; the open interest surged over by 2.79% to $105.03 Million in the last 24 hrs. Similarly, the total amount of holders data noted a consistent up move and reached 55.1k witnessing a positive outlook.
Per the Fib levels, the Blur price has retested the 23.6% zone and is trading in the bearish trajectory. Similarly, the RSI curve stays in the oversold region, and a convergence of the RSI line with the signal line was noted on the charts.
The total supply of the Blur token is 3 Billion, whereas the volume-to-market cap ratio is 0.0885, and it is ranked 122 in terms of market cap in the global crypto market.
Summary
The Blur token price has retested the 52 week low mark of $0.4000 and has taken support on it. Moreover, the bulls have gained momentum and are willing for a recovery ahead. The price action shows that the token has witnessed consolidation throughout the week and has indulged in base formation.
Technical Levels
Support Levels: $0.3930 and $0.3800
Resistance Levels: $0.4150 and $0.4300
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice.
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.
