NFTs have received a lot of attention from the market lately and have gained a lot of momentum. BLUR The token became the highest-earning coin, gaining over 20% in value in the past day.
Koinfinans.com As we reported, the NFT ecosystem is up over 45%. In this context, the total NFT sales volume exceeded the $18 Million mark. This caused a significant increase in the price of the category.
Blur price has been trading in a tight range between $0.1538 and $0.1734 since September. During this time, the price fluctuated greatly and sold close to its top. After the market pump, the BLUR token gained momentum and successfully exited this pump.
The price continued to gain value but was rejected at $0.2198. The price then traded in a consolidated range between $0.1734 as support and $0.2198 as resistance. After the Golden Cross, the token gained momentum and broke out of the level. However, it was rejected again at the $0.2626 resistance level.
The bulls tried to get out of this but failed again and again. This resulted in the price forming a new closed range between $0.2198 and $0.2626. As NFTs began to gain attention, BLUR experienced a bullish impact. In this regard, after more than a week of trading, it left the spectrum.
The price continued to gain ground with minor fluctuations until recently when it was rejected at the $0.3861 resistance level. After that, the price experienced a minor correction. It is currently retesting the level where the outcome is uncertain.
Will BLUR Price Continue to Gain Value?
The RSI indicator has been trading above the midpoint for almost a month. This indicates a strong bullish sentiment for the coin in the market. Additionally, the average has recently broken out of its oversold range. This shows that there is a great purchasing power over the sale.
It is possible for the bulls to push the price above the $0.4051 resistance level. If this happens, the price will regain momentum and make a run to test the upper resistance level at $0.4500 in the coming days. Holding the price at this level will pave the way for the coin to attempt to test the key resistance level of $0.500 by the end of the month.
Conversely, it is possible for bears to beat the bulls. If this happens, the price will lose momentum and soon drop to test the support level at $0.3517. Moreover, if the bears continue to dominate the market, it will decline further in the coming weeks and test the lower support level at $0.3019.