Balancer Price Prediction for Today, October 11

Balancer Price Prediction for Today, October 11 – BAL Technical Analysis

Updated: 11 October 2023

Disclosure

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

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The Balancer price prediction reveals that BAL is currently trading above $3.00 after a significant dip toward $2.90.

Balancer Prediction Statistics Data:

Balancer price now – $3.09
Balancer market cap – $161.6 million
Balancer circulating supply – 52.6 million
Balancer total supply – 59.5 million
Balancer Coinmarketcap ranking – #148

BAL/USD Market

Key Levels:

Resistance levels: $3.50, $3.55, $3.60

Support levels: $2.65, $2.60, $2.55

Balancer Price Prediction for Today, October 11 – BAL Technical Analysis — BALUSD – Daily Chart

BAL/USD is trading at $3.09 where the coin is likely to move to the upside, but the technical indicator the 9-day moving average may cross below the 21-day moving average. However, the current movement of the market indicates that bears are still having the ability to control the market as the coin faces the downside.

Balancer Price Prediction: Bulls May Need to Push the Market Upward

As the Balancer price is hovering below the 9-day and 21-day moving averages within the channel, it is either the coin embarks on a movement toward the upper boundary of the channel. However, a sustainable move from this barrier may improve the bullish movement and allow for an extended recovery toward the resistance level of $3.20. However, if the coin stays above this level, it could negate the bearish scenario and bring the nearest resistance of $3.50, $3.55, and $3.60 levels into play.

Nevertheless, the technical indicator may move out of the negative side, but a failure to continue the bullish movement could worsen the technical picture and lay the ground for further sell-off toward the lower boundary of the channel. Therefore, any bearish movement could locate the supports at $2.65, $2.60, and $2.55 respectively.

BAL/BTC May Continue the Bearish Movement

Against Bitcoin, Balancer is trading below the moving averages as the bears are likely to step back into the market. Now, BAL/BTC is trading at 1129 SAT but the bulls could push the price to cross above the 9-day and 21-day moving averages. On the other hand, if the market drops below the lower boundary of the channel, the next key support may come at 1000 SAT and below.

However, on the upside, if the coin crosses above the moving averages, the resistance level of 1220 SAT and above may be visited. Meanwhile, the 9-day MA may be crossing below the 21-day MA, suggesting that the market may go down.

Balancer Alternatives

The Balancer price is positive, but it looks like it lacks enough momentum to push the coin to the upside. Following the recent price, Balancer faces a potential resistance at the $3.2 level near the upper boundary of the channel. A break above this could produce another huge green candle to the upside.

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