BLUR Price Prediction: Will We See A Bullish Reversal? (FEB 28)

BLUR is the governance token of the Blur NFT marketplace. Launched in October 2022, the marketplace grew rapidly to rank among the top NFT marketplaces on the Ethereum blockchain. It is even surpassing Opensea in trading volume as of February 20.

The native token BLUR allows it to decentralize the platform by granting control to the community. This contradicts its close competitor OpenSea which operates as a private company without a token. 

BLUR is like other cryptocurrencies, often succumbing to bearish pressures in the market. Its prices follow a cycle of ups and downs, which could provide a clue to the future price action when traders observe them. Also, analyzing technical and fundamental indicators guide experts in making price predictions for crypto assets.

BLUR Price Action And Ecosystem Trends Over The Past Days

Like other crypto assets, BLUR’s price is subject to constant fluctuations that intensify as market volatility increases. BLUR’s price history shows the token has undergone several ups and downs since its launch.

Blur token started trading on February 14 2023, and hit an all-time high of $5.02 within a few hours before an 87.93% price pullback. The token price dropped from $5.02 to $0.651484 before regaining momentum to $1.24 on February 19.

After February 19, BLUR met more pullbacks during a market-wide downturn that pushed its price to $0.773539 today, February 28. 

BLUR Price Predictions Based On Technical Indicators

BLUR is trading in the red today on the daily chart forming a large red candle. The $0.6560 and $0.7737 support levels have proved critical in sustaining the asset from further decline. However, the bears at the $0.8802 resistance level seem resilient in keeping the price down in the last two days.

Also, the Relative Strength Index (RSI) is 54.51, indicating price neutrality. It implies the token’s price can go either way based on trader sentiments. 

BLUR is still relatively new in the market but attained an all-time high value of $45.98 on February 13, 2023. If the bulls rally, the asset could bounce off the $0.7736 support to recover in the coming days.

Expert Long and Short-Term BLUR Price Predictions

Crypto experts have compiled short- and long-term BLUR price predictions based on technical and fundamental analysis. 

BTCC Academy BLUR Price Prediction

BTCC Academy predicts that BLUR will trade at a minimum price of $1.12 and a maximum of $1.39 in 2023. For 2025, they predict a minimum price of $2.33 and a maximum of $2.93. By 2030, they predict that BLUR will soar to trade at a minimum of $14.63 and a maximum of $16.19. 

Telegaon BLUR Price Prediction

Telegaon predicts that BLUR will trade at a minimum of $2.25, an average price of $4.33, and a maximum of $5.06 in 2023. In 2025, they predict it will trade at a minimum of $9.34, an average price of $10.17, and a maximum of $12.14. 

Also, by 2030, the analysts tip BLUR to trade at a minimum price of $30.59, an average price of $32.16, and a maximum of $35.25.

Priceprediction.net BLUR Price Prediction

Priceprediction.net predicts BLUR will trade at a minimum price of $0.71, an average price of $0.74, and a maximum of $0.82 in 2023. In 2025, they predict a minimum of $1.55, an average of $1.59, and a maximum of $1.85. 

2030 looks more optimistic; they predict a minimum of $13.89, an average of $14.39, and a maximum of $16.84.

Factors That Might Influence BLUR Price

Several factors might influence BLUR’s price independently or collectively. These factors range from events in its ecosystem to worldwide events that could affect the economy.

 Here are the top factors that could affect BLUR’s price action moving forward.

NFT Adoption

BLUR is the governance token of Blur, an NFT marketplace where users buy and sell digital art. These transactions are processed with BLUR tokens. If more users trade NFTs, the token’s price will increase, making it profitable for investors.

Macroeconomic Events

Recession, inflation, and rate hikes are some macroeconomic factors that could impact BLUR’s price. If inflation rates are high, users might opt to trade more traditional assets like gold, thus creating a deficit in the crypto market. This deficit will eventually lead to a drop in asset prices.

Regulations

Crypto regulation could be a major challenge in some regions of the world. With the recent insolvency issues in the crypto space, some regulatory bodies are clamping down on major crypto places like Binance and Coinbase. Such activities could increase FUD levels in the market and lead to a price decrease. 

Recent Events On The Blur Ecosystem

Blur Leading The Race in Royalty Payouts

Since February 3 (before $BLUR launched) Blur has contributed more royalty revenue to Creators than any other marketplace. Net royalty revenue is the highest it's been in 3 months. pic.twitter.com/LqfkHOeZfj

— Blur (@blur_io) February 27, 2023

The Blur Network stated on Twitter that since February 3, 2023, before BLUR tokens launched, they have contributed more royalty revenue than any other NFT marketplace. These royalties go to creators; the net royalty revenue recorded is the highest in the last three months. 

Despite its recent launch, BLUR has surpassed OpenSea, a popular NFT marketplace. This utility for NFTs and growing adoption could trigger a bull run for the asset and push its price upwards.