- A decrease of 22.71% has been observed in the BLUR price during the monthly trading session.
- Moving averages show bearish signals, while the oscillators reflect positive signals in the current phase.
- The trading volume has increased by over 20% in the last 24 hours.
Blur (BLUR) is a non-fungible token (NFT) marketplace and an aggregator platform. The platform offers multi-marketplace NFT comparisons, portfolio management, and real-time price feeds. Compared to other similar platforms, Blur claims to have faster NFT sweeps and a more intuitive interface. BLUR is an ERC-20 token secured through a proof-of-stake (PoS) consensus mechanism.
BLUR Crypto Price Performance 2024, Supply, & Valuation
Blur Crypto experienced a positive surge in price in January 2024, after a bullish correction period that ended in December 2023. The price reflected over 30% positive returns during the January trading session. The positive start of 2024 intrigued many crypto traders and cruisers to take long positions.
Consequently, the cryptocurrency did as expected, and the price reflected 19.66% positive returns in February 2024. It also reflected a 40% bullish rally during that month and reached the $0.833 supply level. Afterward, the initial profit bookings happened, shifting market sentiments to bearishness to date.
Cryptocurrency has an uncapped maximum supply, which can be an inflation issue in the future. The total supply of BLUR tokens is at 3 billion, of which 1.55 billion are currently in circulation. The current market capitalization is $673 million, and Blur’s total diluted valuation is assumed to be $1.29 billion.
Price-to-Volume and Social Dominance Analysis
The social hike of tweets after January 9, 2024, reflected a positive effect on the BLUR crypto price. The social buzz covered almost 0.30% dominance across social platforms. Since then, the price has been experiencing constant uprises without any social buzz. Conversely, social dominance has been fading since then, currently covering 0.02%.
Technical Analysis of the Blur (BLUR) Price
The Blur crypto price slipped below the critical exponential moving averages, indicating bearish sentiments in technical terms. The current price is bouncing back toward the 50-day and 200-day EMAs. A bullish trend can be expected if the price rebounds both the EMAs.
BLUR price made an opposing movement from the $0.783 supply level. The price reached the $0.303 major demand level. The current price is moving upward toward the $0.500 resistance level. The price can retest that resistance and fall back to the major demand level. Or if the BLUR price crosses above $0.648, the price can attain the $0.841 mark.
The relative strength index (RSI) shows a strong bullish momentum from the 30-mark lower band. The golden crossover between RSI and signal lines indicates a reversal in strength.
Summary
Since 25 February 2 Since February 25, 2024, the Blur crypto price has witnessed a solid bearish trend. However, the cryptocurrency has secured 93.49% six-month positive returns to date. At press time, BLUR price is trading at $0.431. The price can retest the $0.500 resistance and fall back to the $0.303 primary demand level. Or if the BLUR price crosses above $0.648, the price can attain the $0.841 mark.
Technical Levels
- Resistance Levels: $0.500 and $0.6448
- Support Levels: $0.391 and $0.303
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 any other advice. Investing in or trading crypto or stock comes with a risk of financial loss.