Following the news of charges against (CZ), ex-CEO of the Binance exchange, the crypto market experienced a bearish trend for two days. Positively, the market has recorded a strong uptrend today as it added over 2.5% in value within the past day.
BLUR token has claimed the spot of top gainer as the price has recorded a surge of over 23% in value. The Season 2 of Airdrop is assumed to be the prime reason for this price pump.
Despite the market surge during the month of October, the BLUR token price was seen trading in a consolidated range between $0.2198 and $0.2626 for a brief period. November started on a positive note as the price gained momentum and successfully broke out of the resistance level.
The BLUR token hovered around the level of $0.3019 for a while after which the price regained momentum and broke out. Further, the price was rejected at $0.3941, following which the price was seen trading in a narrow space between $0.3517 and $0.3941 for a period.
The market bulls then successfully broke out of the range but the rally was short-lived as the price was rejected at $0.4500. Following this, the price lost momentum and constantly lost value as it recorded a loss of approximately 32% during a period of one week.
The price made multiple attempts to break down the range, but the bulls held the price strong, resulting in the Blur token regaining momentum and successfully breaking out of its key resistance level at $0.4500.
Presently, the token is hovering close to its upper resistance level of $0.4993 and is predicted to test it soon of which the outcome is unpredictable.
The Relative Strength Index (RSI) has recently breached the overbought range and continues to trade above it, indicating a massive bullish sentiment in the crypto space. Further, the average shows a constant rise toward the upper limit, suggesting the price to continue gaining value.
If the bulls hold the price above the support level of $0.4993, the price will continue to gain momentum and make a run to test the resistance level of $0.5500 soon.
Further, if the market holds the price at that level, it will set the stage for the Blur price to attempt to test its upper resistance level of $0.600 in the coming week.
Conversely. If the bears overpower the bulls, the price will lose momentum and fall to test its support level of $0.4500. Moreover, if the bears continue to dominate the market, it will plunge further and prepare to test its lower support level of $0.3941 soon.
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