Ever since the Blur Marketplace launched its own native BLUR token and awarded users with token allocations via an airdrop, the price has skyrocketed to new highs. Along with this, Blur’s Total Value Locked (TVL) also saw a massive increase reaching over $121.42 million, making it the most dominant market.
Additionally, Blur has overtaken NFT market leader, Opensea by generating $460 million from Ethereum NFT with an upside of over 360%. Meanwhile, Opensea was only up 12% with a volume of $107 million over the same period.
With the growing adoption and global attention on the token, what can we expect from the BLUR price in the coming days?
Fuzzy Token Price Analysis
- BLUR price after hitting the mid highs saw a slight pullback but held in the bullish regions
- However, the price after a slight pullback is trading inside a symmetrical triangle about to break the lower support of the triangle.
- The bulls are using all resources to hold the price above in the triangle. A rebound from these levels may trigger a rally towards upper resistance
- As price tests one of the pivotal levels that can be termed as a “trend reversal” zone, a bounce from here is paramount
- With a bounce, price may find itself at the edge of consolidation which may rise further high to test immediate resistance.
Considering the indicators, the RSI is testing the lower support and may soon rebound, lifting the price near $1.5. Additionally, the MACD is showing cumulative selling volume due to which the short-term price may see a slight pullback, a position at which a notable price rise may be imminent.