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The Balancer price prediction reveals that BAL is likely to cross above the upper boundary of the channel as the coin hits a $4.68 daily high.
Balancer Prediction Statistics Data:
- Balancer price now – $4.60
- Balancer market cap – $256.6 million
- Balancer circulating supply – 54.1 million
- Balancer total supply – 60.8 million
- Balancer Coinmarketcap ranking – #187
BAL/USD Market
Key Levels:
Resistance levels: $5.20, $5.40, $5.60
Support levels: $4.00, $3.80, $3.60
BAL/USD is moving bullishly as the coin hovers above the 9-day and 21-day moving averages. Meanwhile, due to a lack of buying power, the bulls may need to gather enough energy to push the coin to the upside. The 9-day MA is seen crossing above the 21-day MA, pointing up to suggest bullish movement.
Balancer Price Prediction: Balancer (BAL) Gets Ready for the North
According to the daily chart, the Balancer price is ready to create more uptrends as the coin moves to cross above the upper boundary of the channel. Meanwhile, the more the bulls pressurized the bears, the higher the coin would reach. Therefore, if the bulls maintain the upward trend, BAL/USD may continue with the bullish movement which could take the coin to the resistance levels of $5.20, $5.40, and $5.60.
Nevertheless, from the downside, any strong selling pressure could drag the price below the lower boundary of the channel, and should BTC slide below this barrier, a very strong bearish movement could take the price to the support levels at $4.00, $3.80, $3.60 respectively.
BAL/BTC Faces the Upside
Against Bitcoin, the Balancer price is above the 9-day and 21-day moving averages as the bulls increase their entries within the market. At the time of writing, the Balancer price has not been able to push the price above the upper boundary of the channel, but it is currently trading around 1068 SAT. Therefore, if the coin signals a bullish rally, it could meet the resistance at 1200 SAT and above.
Looking at the daily chart, traders can see that the market may continue to follow the bullish movement while the 9-day moving average could make a bullish cross above the 21-day moving average to confirm the bullish movement. On the contrary, any bearish movement below the moving averages could hit the support at 920 SAT and below.
Balancer Alternatives
The Balancer price appears poised to surpass the upper boundary of the channel, potentially triggering further gains. However, if buyers intensify their pressure, the coin could initiate another upward momentum, targeting a break above the $4.65 resistance level. Meanwhile, a positive breakout above the channel would serve as an initial bullish signal, encouraging buyers to push the price even higher.
Meanwhile, the key distinction between Bitcoin Minetrix and Balancer (BAL) lies in its modest market cap, garnering nearly $6.3 million during its current presale phase. While Balancer holds the 187th rank with a $255.4 million market cap, $BTCMTX stands out as a token with significant promise. For potential investors, the ideal opportunity to invest in $BTCMTX is now, rather than waiting.
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