- Blur crypto price fell by 24% in a week.
- Crypto price has dropped below the 100-Day EMA and sellers are dominating.
Blur crypto price has been in a bearish trend and has declined by 24% in the last 6 days. Since the beginning of 2024, the buyers have been in the grip and lifted the price to an all-time high of $0.834 on February 24, 2024. The price tried twice to sustain the $0.800 hurdle but sellers dominated further which led to a selling pressure.
At the beginning of this month, the (BLUR) price declined by 25% in 4 days but sudden buying was seen and the price bounced back to the same level in the next few days. But the buyers failed to hold the price for more days and bears dominated further. The BLUR coin price has slipped below the 100-Day exponential moving average which highlights the sellers’ strength.
At the time of writing, the Blur crypto price was trading at $0.549 with an intraday loss of 0.90%. The market capitalization is $816.42 Million and the 24-hour trading volume is $114.43 Million. The circulating supply of Blur coin is 1,484,541,060 BLUR and the total supply is 3,000,000,000 BLUR. The fully diluted market cap is $1.64 Billion.
Blur Crypto Price vs Volume Analysis
The volume and price graph displayed that the trading volume has decreased from $466 Million to $114 Million in the last 25 days and the price has also declined. In the last 4 days, the price has melted 20% but the trading volume has not declined more so the price is expected to bounce back in the short term.
Blur Crypto Social Dominance vs Social Volume Analysis
The graph of social dominance and social volume shows that awareness and interaction on social media like X, Instagram, and Telegram have decreased which has made a negative impact on the price. The next momentum of Blur crypto price may depend upon the social dominance and social volume.
Blur Price Is In A Bearish Trend; Will It Record A New All-time Low
BINANCE: BLUR/USD 1-Day Chart By TradingView
On a daily time frame, the Blur crypto price has performed negatively for a month and slipped below the 100-Day exponential moving average. The price is falling by taking pullbacks and currently, it has declined a lot for a pullback.
Suppose the Blur price rises and faces resistance from the 100-Day EMA, then sellers may show interest in the pullback. If the price triggers a pullback, then the price may melt to the $0.400 mark and sellers may drag down the price to a new all-time low.
Alternatively, if the Blur price manages to surpass the 100-Day EMA and sustains, then buyers may show interest and lift the price to the $0.800 hurdle. But, if the buyers manage to dominate sellers, then the coin price may record a new all-time high.
Turning to the technical indicators, the Blur crypto price is trading below the significant moving averages showcasing a bearish trend. RSI is at 31 which has declined from the overbought zone and is heading for the oversold zone. Overall, the technical indicators indicate negative momentum.
Blur Price Prediction on 4-H Timeframe
In a 4-H time frame, the Blur crypto price is trading near the $0.550 hurdle which is a strong support level. According to the technical chart, the price has witnessed selling pressure for the last few days. If the price fails to defend the $0.550 level and sustains then it may continue the bearish trend.
On the other hand, suppose the Blur price takes support on the $0.550 level and surpasses the 20-Day EMA, then buyers may lift the price to the 100-Day EMA. but if the price manages to surpass the 200-Day EMA and sustains, then a bullish momentum in the short term is likely.
Conclusion
The Blur price has performed positively from the beginning of this year and reached a new all-time high last month. However, the price has shown a negative momentum this month and declined by approximately 30%. Suppose the price fails to defend the $0.500 hurdle, then it may record a new all-time low. According to the technical indicators, the price may perform negatively for the next few days.
Technical Levels
Resistance Levels: $0.640 & $0.740
Support Levels: $0.550 & $0.440
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.