SNEAK PEEK
- Blur (BLUR) market shows strong bullish momentum.
- Investors prefer buying, driving BLUR prices higher.
- Positive indicators suggest future growth potential for the BLUR market.
Since the announcement of the launch of Blur Perpetual on Binance, the Blur (BLUR) market has been dominated by bulls. Following the announcement, 3 $ETH withdrawers withdrew 686 $ETH ($1.28M) on April 15, then used the entire amount to purchase 2 million $BLUR ($1.42M currently), demonstrating the “buy the rumor, sell the news” phenomenon.
The price of $BLUR has risen by ~10% with the announcement of launching $BLUR perpetual on #Binance.
We noticed 3 $ETH withdrawers withdrew a total of 686 $ETH ($1.28M) on Apr 15, then used all funds to buy 2M $BLUR ($1.42M currently) today, the average price is $0.636. pic.twitter.com/LsPsMvDSN5
— Lookonchain (@lookonchain) April 27, 2023
According to Lookonchain, on April 28th, Whale 0xed06 purchased 1.39 million $BLUR for 1 million $USDC at an average price of 0.72 USD, whereas Luggis. eth sold 1.77 million $BLUR for 1.2 million $USDC at 0.68 USD and lost $295K.
Are whales buying or selling $BLUR after the announcement of launching $BLUR perpetual on #Binance?
Whale 0xed06 bought 1.39M $BLUR with 1M $USDC at an average price of 0.72 USD 3 hrs ago.
And luggis.eth sold 1.77M $BLUR for 1.2M $USDC at 0.68 USD 7 hrs ago and lost ~$295K. pic.twitter.com/3kTvAynESL
— Lookonchain (@lookonchain) April 28, 2023
Blur was trading at $0.7165 at the time of writing, up 12.95% from the previous day’s close, showing that bullish control was still in place. Blur’s market capitalization and 24-hour trading volume grew by 13.18% and 61.61%, reaching $323,230,509 and $167,975,876, respectively.
Positive momentum in BLUR is anticipated to continue as MACD rises above its signal line, with a value of 0.0115 and a MACD reading of 0.0232. This movement indicates that the price of BLUR will increase further, and traders may think about buying the asset because it presents a potentially profitable opportunity. The expanding histogram of green bars on the 4-hour price chart indicates an upward trend in purchasing pressure, which confirms the bullish price prediction for BLUR.
With a Chaikin Money Flow score of 0.12, the capital flow into BLUR is barely positive, showing that investors are still buying despite the likely decrease in volatility suggested by the BLUR facing southward. If the CMF score keeps increasing, it might indicate increased buying pressure and, as a result, a favorable trend for BLUR.
The Aroon up and down readings on the BLUR market’s 4-hour price chart is 92.86% and 35.71%, respectively. The fact that the Aroon up reading is significantly higher than the Aroon down reading suggests that the BLUR market is in a strong uptrend.
The bullish momentum is strong and volatile, as shown by the Average True Range (ATR) value of 0.0307 on the BLUR price chart. The fact that the ATR is still in positive territory and the market is still showing bullish momentum contributes to this expectation of further gain. However, given that the ATR is sloping downward, this may portend a decline in volatility, the start of a period of consolidation, or a reversal in the current trend’s direction.
In conclusion, the market’s bullish trend is proof that investors are optimistic about the performance of the Blur market, and a substantial price shift will likely occur soon.
Disclaimer: Cryptocurrency price is highly speculative and volatile and should not be considered financial advice. Past and current performance is not indicative of future results. Always research and consult with a financial advisor before making investment decisions.
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- Source: https://investorbites.com/blur-price-analysis-28-04/
