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On November 24 in the Balancer market, after several failed bullish attempts to break through the $5.54 resistance level, the bull market finally had a very massive bullish price break out that pushed the market to the high of $8.4. However, with such a hyper-bullish movement of the price and with not much of an increase in the volume of trade, exhaustion (on the part of the buyers) is inevitable. And that is why the resistance level fell back to $6.2.
Balancer Classic Market Price Statistic:
- BAL/USD price now: $6.3
- BAL/USD market cap: $286,264,883
- BAL/USD circulating supply:45,709,481.77
- BAL/USD total supply:53,846,859
- BAL/USD coin market ranking: #98
Key Levels
- Resistance: $6.5, $7.0, $7.5
- Support: $5.5, $5.0, $4.5
Balancer Price Analysis: The Indicators’ Point of View
The bulls were able to conserve the price on November 24 at $6.2. This price also becomes the new resistance level. Then a new support level was secured in proximity to $6.2. And it formed the basis for the bullish trend that has broken the $6.2 resistance level. The RSI indicator is holding a bullish sentiment, but it also reflects the struggle that the bull market is still dealing with even after breaking through the resistance level.
BAL/USD 4-Hour Chart Outlook
From this point of view of the market, The RSI indicator illustrates the market pulling back from the threshold of the overbought region to retrace a lower level. This means more traders are selling at this point, even though the buyers still have the upper hand. The general outlook on the market is still a bullish sentiment. And the next target for the bull market is the $7.0 level.
This may be the beginning of the Balancer bullish trend. From the general outlook of the market on the daily chart, this market can be regarded as a trending market. Similarly, Dash 2 Trade has also been actively trending in a bullish way since the beginning of its presale. D2T token presale is still live and it has realized close to $8 million. Dash 2 Trade (D2T) is a unified analytics platform for market-beating intelligence and features to take your trading experience to the next level. Additional team members have been onboarded, and its presale dashboard beta launching is coming soon.
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