Balancer Price Prediction for Today, May 22: BAL/USD Prepares to Cross Above $6.0 Level

The Balancer price prediction may lack short-term, but if the price increases, the coin is likely to face moderate volatility in the market soon.

Balancer Prediction Statistics Data:

• Balancer price now – $5.37
• Balancer market cap – $266.7 million
• Balancer circulating supply – 49.5 million
• Balancer total supply – 57.1 million
• Balancer Coinmarketcap ranking – #114

BAL/USD Market

Key Levels:

Resistance levels: $7.00, $7.50, $8.00

Support levels: $4.00, $3.50, $3.00

BAL/USD is currently trading around the $5.37 level below the 9-day and 21-day moving averages. In the range of the descending channel, the closest support is located at $5.00, with a close resistance at $5.5. Meanwhile, if the market increases, additional resistance can be found above the 9-day and 21-day moving averages.

Balancer Price Prediction: Balancer (BAL) May Go Bullish

According to the daily chart, it is obvious that the Balancer market may create more bullish trends if the bulls increase the pressure away, and this is noticeable for the technical indicator Relative Strength Index (14) as the signal line may cross above the 35-level. Since a few days ago, Balancer (BAL) has been moving positively, aiming to break many downsides.

At the moment, the market is trading at $5.37 within the channel, but any bearish movement below the daily low of $5.23 could lead the coin to a serious downtrend. However, the support levels for the coin could be located at $4.00, $3.50, and $3.00, while the resistance levels lie at $7.00, $7.50, and $8.00 respectively.

When compares with Bitcoin, the support level of this trading is built around 199 SAT. Technically, the market price is likely to head to the upside as the technical indicator Relative Strength Index (14) moves to cross above the 40-level.

However, if the Balancer price slides toward the lower boundary of the channel, BAL/BTC could hit the support level of 1600 SAT and below. Moreover, any bullish movement above the upper boundary of the channel may allow the market to form a new upward trend, and this could reach the potential resistance level at 2400 SAT and above.

Balancer Alternatives

The Balancer price is moving to cross above the 9-day and 21-day moving averages to increase the bullish movement. Meanwhile, the cryptocurrency might kick-start another bullish run above $6.00 if the Balancer price moves toward the upper boundary of the channel. However, any positive break above this barrier could be the first signal needed for the buyers to press higher. Nevertheless,  one of the best things about the AiDoge (AI) project is that it operates a simple yet highly innovative model. In simple terms, AiDoge enables users to automatically generate memes. This is achieved by providing AiDoge with a text prompt and the token has raised almost $12 million in the presale.