BLUR Price Continues To Bleed! Will BLUR Token Bounce Back?

Following the bullish momentum the market has experienced during the month of November, BLUR price has displayed massive price action by adding over 125% in value this month alone. On the other hand, the price has been trading under a bearish influence for about a week, suggesting a possibility of a massive correction in the coming time.

The BLUR price constantly struggled between the consolidated range of $0.2198 and $0.3019, following which the bulls overpowered the bears and the price jumped. With the increasing bearish pressure, the price was rejected at $0.3941 after which it was seen trading sideways for a while.

As the price broke out of the resistance level, the market experienced a short relief, but the price experienced a short in its value following achieving the price tag of $0.450, indicating a liquidating zone in the space.

Following this, the price experienced a plunge of 32% over a period of one week and hovered close to its support level of $0.3019 for a while. After this, the bulls regained momentum and recorded a jump of 65% before being rejected at $0.4993.

The bulls quickly gained back momentum and recorded a jump of another 38% to $0.6880, following which the price experienced a strong bearish turnover, resulting in the price recording a loss of 28%. Presently, the price is hovering close to its level and is expected to make a move soon, of which the outcome is uncertain.

The Moving Average Convergence Divergence (MACD) displays a constant red histogram, highlighting a strong bearish influence in the market, but positively the chart shows a decline in averages, suggesting the possibility of a bullish reversal in the market.

Will BLUR Price Regain Value?

Despite the bullish sentiments the market faces a pullback, but if the bulls manage to hold the price above $0.4993, the price is expected to regain momentum and make a run to test its upper limit of $0.6561 soon.

Maintaining the price at that level will set the stage for BLUR price to attempt to test its May high of $0.6880 in the coming month.

Conversely, a drop toward the support level of $0.450 could result in the price losing momentum and if the bulls fail to hold the price, it is predicted to test its lower support level of $0.3941.