BLUR Coin Price: Bears Maintains Pressure at $0.783, What’s Next?

• BLUR coin price has given a breakout from a bullish flag pattern.
• Technical indicators are suggesting a buy signal in the current trading phase.
• Blur’s price has been bullish for the last three months.

Launched in October 2022, Blur (BLUR) is a unique non-fungible token (NFT) marketplace and aggregator platform. BLUR is the native governance token of this platform. Blur offers advanced features such as real-time price feeds, portfolio management, and multi-marketplace NFT comparisons. BLUR is an ERC-20 token that operates on the Ethereum blockchain, secured through a proof-of-stake (PoS) consensus mechanism.

October 2023 Became a Breakeven Point for the BLUR Coin Price

BLUR coin price experienced a massive U-turn from the $0.1512 support level in October 2023. The price increased by over 200% from the support level to the $0.4711 resistance level. BLUR created a decisional point of interest on the $0.3039 level.

Subsequently, BLUR coin price made a pullback on the decisional (POI). The buyers are aware of this level because of the previous upsurge in price. They took long positions on the $0.3039 level, leading the price toward the $0.6868 resistance.

The market sentiments have changed in the BLUR coin price. It became bullish after the second rally. Afterward, the price made a bullish correction for 44 days on the $0.3911 demand level, which got a real boost on January 8, 2024.

Consequently, BLUR coin price gave a breakout from the $0.6868 resistance and created a decisional demand level, serving the current upward rally. BLUR coin’s all-time high price is set to be $45.98, and the current price is 98.43% below it.

BLUR Coin Price Technical Analysis On Daily Timeframe

The 50-Day EMA has become a golden slope for the BLUR coin price. The price moved above the 50-Day EMA in October 2023. Since then, the price has been consistently respected by that EMA. BLUR coin price is moving above the 50 and the 200-Day EMAs, reflecting an uptrend.

BLUR coin price has given a breakout from a bullish flag pattern at $0.6480. The price surged 27% from the breakout level. Afterward, it made a bullish correction on that level, which made $0.6868 a strong support level.

The price is presently facing resistance from the $0.7837 supply level. It seems like the sellers are not willing to give up on this supply zone. However, if the BLUR coin price closes above $0.8419, it may continue its bullish rally toward $1.0406.

Moreover, the relative strength index (RSI) has been showing bearish divergence since the $0.4711 resistance level. The RSI is currently sloping in an internal bearish divergence, reflecting more strength to the sellers at the current trading phase.

Summary

BLUR coin price has been performing in an uptrend since October 2023. The price made several bullish patterns during an upward rally. Moving averages also prevent the BLUR coin price from falling. At press time, the price is moving between the $0.8419 and $0.6868 levels. Blur coin may continue moving upward if it closes above $0.8419.

Technical Levels

• Resistance Levels: $0.8419 and $0.1012
• Support Levels: $0.6480 and $0.3911

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading stocks and crypto comes with a risk of financial loss.