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- 1 BLUR is trading below the key moving averages, showcasing a bearish outlook.
- 2 The digital asset is down by almost 35.54 %, demonstrating seller dominance.
Blur crypto price is trading below the key moving averages showcasing the bearishness on the daily technical chart. BLUR is trading at $0.3985 with a decline of 1.17, and its 24-hour trading volume is 51.68 Million. This company has a market cap of 614.61.
The crypto had a poor performance this year, as it gave a negative return since the beginning of the year. However, recently, the crypto has shown signs of reversal, as it is forming a base near $0.3588. The crypto is also trading below the key moving averages, which are bearish signals.
As per TradingView, out of 26 indicators,14 are on the sell side, 10 are on the neutral side, and 2 of them indicate a buy signal. However, the overall weightage of indicators is on the sell side.
BLUR Crypto Technical Analysis
Blur Crypto performance On The Short Time frame
On the 4-hour chart, BLUR cryptocurrency is trading within a range of $0.4469 and $0.3588. Buyers are accumulating the cryptocurrency by defending it from the support levels, which is preventing it from further decline.
Additionally, the RSI indicator shows that the cryptocurrency is currently in a neutral state. The RSI curve is floating near 48, indicating that both buyers and sellers don’t have complete control of the cryptocurrency. As the RSI is still within the neutral zone, it is too early to conclude that a breakdown is imminent.
However, the MACD indicator suggests that the momentum in the cryptocurrency is bearish. The MACD indicator is showing red bars on the histogram, indicating that the momentum is bearish. But, since the MACD is not yet in the oversold zone, it is still possible for the cryptocurrency to stage a rally before breaking down.
Conclusion
BLUR crypto is trading at $0.3985 with a decline of 1.17 and a 24-hour trading volume of 51.68 Million. It has a market cap of 614.61 and is currently trading below the key moving averages indicating bearishness on the daily chart. The crypto has shown signs of reversal, forming a base near $0.3588, but its overall weightage of indicators is on the sell side. The MACD is moving downwards, and the RSI is moving towards the oversold zone, demonstrating bearishness in the crypto.
Technical Levels
Support Levels: $0.3588.
Resistance Levels: $0.3588.
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions.
Steefan George is a crypto and blockchain enthusiast, with a remarkable grasp on market and technology. Having a graduate degree in computer science and an MBA in BFSI, he is an excellent technology writer at The Coin Republic. He is passionate about getting a billion of the human population onto Web3. His principle is to write like “explaining to a 6-year old”, so that a layman can learn the potential of, and get benefitted from this revolutionary technology.
