MEXCBLUR Price Prediction: Will Steady Recovery In Blur Token Surpass $1.5 Mark?
The formation of a famous bullish pattern called ascending triangle has created a sense of prolonged bullish rally in the Blur token price. Under the influence of this pattern, the coin price shows a series of new higher highs and higher lows indicating a steady uptrend. Here’s how this pattern may further influence the future of the Blur coin.
Key Points:
- An ascending triangle pattern is considered bullish as reaching a higher low indicates the growth in underlying bullishness
- Blur holders can maintain a bullish sentiment the support trendline is intact
- The intraday trading volume in Blur is $487.2 Million, indicating a 22.3% loss.
Source- Tradingview
In the four-hour time frame chart, the Blur token showed the formation of an ascending triangle pattern. This pattern is formed when a coin price reaches a resistance level and forms a series of higher lows, which create a diagonal trendline that converges with the horizontal resistance level.
Thus, under the influence of this pattern Blur coin price gave a massive breakout from the $1.21 neckline resistance of this pattern on November 19th. This breakout is possible to give buyers a significant footing to bolster further rally.
Also Read- Explained: What is Physical NFT? and How to Sell Physical Items as NFT
However, since yesterday, the coin price is hovering above the breached resistance trying to check stability at the new reclaimed levels. If the Blur price shows sustainability above the $1.21 mark, the buyers could drive the price 52% up to hit $1.82.
However, on a contrary note, a 4-hour candle closing below the rising trendline could invalidate the bullish thesis. This support breakdown could trigger a correction phase and plunge prices to the $1.03 mark.
Technical Indicator
EMAs: the 20 EMA support offers additional support to Blur’s price to maintain above $1.21 support.
RSI: The downsloping RSI slope indicates weakness in bullish momentum and a higher possibility for support breakdown.
Blur Coin Price Intraday Levels
- Spot rate: $1.21
- Trend: Bearish
- Volatility: Medium
- Resistance level- $1.38 and $1.6
- Support level- $1.2 and $1.03
- Bitcoin, Ethereum Continue Slide as U.S. Government Shutdown Continues
- U.S. Sanctions North Korea’s Crypto Network Funding Nuclear Programs
- Bitcoin Price Crashes Below $100K Even as Trade Tensions Subside
- FTX Collapse: SBF Claims Trial Was Biased and Unfair, Appeals FTX Fraud Conviction
- Unlock $16T RWA Market: BitFrac Makes Bitcoin Mining Accessible Now
- Dogecoin Price Risks 20% Crash as Death Cross Aligns With Falling DOGE ETF Inflows
- Will Bitcoin Price Recover When US Govt. Opens? On-chain Data Shows Recovery Might Take a While
- XRP Price Forecast as Price Nears a Death Cross Formation- Is a Crash Below $2 Inevitable?
- Why These Crypto Coins Are Soaring Today: DASH, ZEC, and ICP
- Is a Pi Coin Price Meltdown Ahead? November’s 2.4% Supply Unlock Sparks Warnings
- Solana Price Eyes Rebound as Institutional Demand Tops $3.2B YTD
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
