BLUR / TetherUSLong
TradeCityPro | Blur : Dynamic Support Holding
👋 Welcome to TradeCityPro!
In this analysis, I will explore Blur, a gaming project, focusing on the daily timeframe to assess its current price action and potential scenarios.
📅 Daily Timeframe: Correction to Dynamic Support
On the daily chart, Blur has been following an ascending trendline that acts as a dynamic support, propelling the price upward after every interaction.
🔍 Recently, the price experienced a fake breakout below this dynamic support, which was quickly followed by increased buying volume and a surge in bullish momentum. As a result, Blur managed to break through the $0.2827 and $0.3314 resistance levels, climbing as high as $0.4438.
🔽 Currently, the price has corrected in two stages and returned to the $0.2827 level, which aligns with the dynamic support. The RSI, after breaking below the 50-level, has supported this deeper correction. If the dynamic support fails to hold and the price trend shifts, the primary support will be at $0.1464.
📈 If the resistance at $0.4438 is breached, the first target is $0.5539, a notable resistance level. The main target is $0.8077, the ATH, which doubles as a critical supply zone due to its significance in price history.
✨ The RSI lacks a clear bullish trigger currently, as no new structure has formed. However, if RSI confirms a bullish momentum resurgence and trading volume increases, the chances of breaking through $0.4438 will significantly improve.
🔑 Market Sentiment and Advice
The market is currently undergoing broad corrections, causing FOMO and uncertainty among traders. However, these pullbacks are natural and essential for sustaining the market’s broader uptrend.
💥 Here’s a reminder for effective trading during volatile times:
Avoid impulsive decisions driven by fear or greed.
Ensure risk and capital management is a priority. Proper management safeguards you from significant losses during corrections, preserving capital for long-term growth.
📝 Final Thoughts
This analysis reflects our opinions and is not financial advice.
Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️ above.
In this analysis, I will explore Blur, a gaming project, focusing on the daily timeframe to assess its current price action and potential scenarios.
📅 Daily Timeframe: Correction to Dynamic Support
On the daily chart, Blur has been following an ascending trendline that acts as a dynamic support, propelling the price upward after every interaction.
🔍 Recently, the price experienced a fake breakout below this dynamic support, which was quickly followed by increased buying volume and a surge in bullish momentum. As a result, Blur managed to break through the $0.2827 and $0.3314 resistance levels, climbing as high as $0.4438.
🔽 Currently, the price has corrected in two stages and returned to the $0.2827 level, which aligns with the dynamic support. The RSI, after breaking below the 50-level, has supported this deeper correction. If the dynamic support fails to hold and the price trend shifts, the primary support will be at $0.1464.
📈 If the resistance at $0.4438 is breached, the first target is $0.5539, a notable resistance level. The main target is $0.8077, the ATH, which doubles as a critical supply zone due to its significance in price history.
✨ The RSI lacks a clear bullish trigger currently, as no new structure has formed. However, if RSI confirms a bullish momentum resurgence and trading volume increases, the chances of breaking through $0.4438 will significantly improve.
🔑 Market Sentiment and Advice
The market is currently undergoing broad corrections, causing FOMO and uncertainty among traders. However, these pullbacks are natural and essential for sustaining the market’s broader uptrend.
💥 Here’s a reminder for effective trading during volatile times:
Avoid impulsive decisions driven by fear or greed.
Ensure risk and capital management is a priority. Proper management safeguards you from significant losses during corrections, preserving capital for long-term growth.
📝 Final Thoughts
This analysis reflects our opinions and is not financial advice.
Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️ above.
telegram : t.me/tradecityproint
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.