Join Our Telegram channel to stay up to date on breaking news coverage
Balancer (BAL) Price Prediction – August 12
There have been happenings in the Balancer market as it experiences a sudden spike in valuation against the US Dollar trade worth in today’s session. The crypto economy recorded an all-time high value of $74.77, precisely on May 04, 2021 (a year ago), and an all-time low point of $3.65 on June 18, 2022 (2 months ago). Presently, the percentage rate of the market is at 17.96 positive.
Balancer Price Statistics:
BAL price now – $7.43
BAL market cap – $319.4 million
BAL circulating supply – 42.8 million
BAL total supply – 51.5 million
Coinmarketcap ranking – #117
BAL/USD Market
Key Levels:
Resistance levels: $8, $12, $16
Support levels: $5, $4, $3
BAL/USD – Daily Chart
The daily chart showcases Balancer experiences a sudden spike that led to a breakout of the upper range point at $8 to touch a higher-resistance trading level of $16 during today’s operations. But, the price has also witnessed a reversal-moving mode below the upper range value line. The 50-day SMA indicator is at $7.1212 above the $5.9962 point of the 14-day SMA indicator. The Stochastic Oscillators have crossed northbound from the range of 51.07 to the range point of 70.63. And they are still pointing in the upside direction.
Your capital is at risk.
Will the BAL/USD market get reversed down to its previous lower range zone soon?
It has been that the Balancer market experiences a sudden spike against the trade worth of the US Dollar. The crypto economy may continue its reversal-moving manner downward below the trend lines of the SMAs to approach the lower range line at $4. If today’s trading candlestick tends to finish with a long top shadow, the price may find re-breaking out of the upper zone hard. Therefore, long-position takers need to be cautious of exerting further buying orders while that presumed scenario plays out.
On the downside of the technical, the BAL/USD market bears have been able to resist the upward motions suddenly put up by bulls at a test of $16. As it has been, sellers have to intensify efforts by adding more pressure to pull down the price at least within the well-defined range lines for some time. On the contrary, investors may continue to get repositioned to add more to their portfolio sizes in the same range trading zones. 
BAL/BTC Price Analysis
Balancer has been struggling to push higher against the trending worth of Bitcoin. Price is experiencing a sudden spike, making the former trading instrument break out of the upper range line. But, the situation has turned to witness a reversal-moving motion back to the upper range spot. The 14-day SMA indicator has moved upward closely below the 50-day SMA indicator. The Stochastic Oscillators have moved northbound from the 40.97 range to the range value of 61.18. The early correction in the market movement has led to a warning sign against the base crypto’s possibility to push northward smoothly, pairing with its counter-trading crypto.
Read more:
Join Our Telegram channel to stay up to date on breaking news coverage
