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BLUR Looking For A Breakout: Can BLUR Spray Bullish Waves Ahead?

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The Blur token has witnessed a significant recovery from the bottom mark of $0.3300 and surged over by 30% this week. However, the token still trades in a range and might replicate a breakout ahead.

In addition, the BLUR token has crossed the 20 and 50 day EMAs and gained momentum over the last few trading sessions. The selloff has eased now, and bullish accumulation was noted.

A break and close above the $0.4700 mark would sprinkle fresh bullish momentum and the token might surge over 5-10% in the upcoming sessions.

At press time, Blur token (BLUR) price traded at $0.4265 with an intraday surge of 2.10%, reflecting neutrality on the chart. It has a monthly return ratio of 1.20% and 17.29% yearly, depicting short-term consolidation on the chart.

Blur (BLUR) Price Action and Projections

The Blur token price action revealed the buying interest at the lows and has pumped from the bottom. However, due to the lack of buying momentum, BLUR token is still hovering in the downside trajectory.

Until the token crossed $0.5000, sellers persisted in dominating the battle as the selling pressure remained intact.

Source: Santiment

For weeks, the token endured in delivering the lower low swings and stayed in the downside region. Amidst the market correction, the token has corrected over 22% last month.

Despite the range bound moves, the trading volume significantly increased and surged over 121.90% to $198.99 Million. Ranked at 117, BLUR token has a total supply value of 3 billion. The RSI curve spiked to the overbought zone and a positive crossover was noted.

Per the tweet on X, analysts explained that BLUR exited from the falling wedge breakout and is ready to shine gains ahead.

Source: Twitter

Weighted Sentiment Improves, Bull Run Incoming?

This week, the weighted sentiment data flipped from the downside and approached the midline region, signifying the positive outlook.

Surge In Futures OI Data 

Following the price spike, the futures derivative data of the BLUR token revealed the long buildup activity. The OI data rose over 2.58% to $67.23 Million in the last 24 hrs, revealing the potential upsurge of the token.

Source: Santiment

Moreover, the total amount of holders data signifies a consistent rise and reached the top mark of 56.3k. The immediate support levels for the BLUR token is $0.4000 and $0.3870 whereas the key upside hurdle is around $0.4360, followed by $0.4500.

Conclusion

BLUR spiked to the upper neckline range hurdle close to $0.4300 and might register a sharp breakout soon. For weeks, the token was in a consolidation phase and has gained momentum now.

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