Bluzelle Price Analysis: BLZ Surges Ahead – How Long Will Bull Run Last?

Updated: 25 August 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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During the previous week, the price of Bluzelle (BLZ) significantly increased, capturing the interest of numerous investors eager to invest in the token.

As of the time of writing, at 12:08 a.m. EST, BLZ has encountered a brief decline, resulting in a 16.6% drop in the past 24 hours, and is trading at $0.10.

Nonetheless, its performance over the week remains high, displaying a substantial 31.8% rise.

This suggests that the buyers still have further plans for capitalizing on this upward trend. How long this bullish momentum will persist is yet to be determined.

BLZ Price Signals a Rebound on Support Level

BLZ/USD Chart Analysis. Source: Tradingview.com — BLZUSD Chart Analysis. Source: Tradingview.com

Following a sequence of downward trends marked by several instances of reduced lows and lower highs between August 6 -11, there appears to have been a shift as the bulls managed to stabilize the price at the $0.04 mark.

This stabilization was reinforced by the emergence of a double-bottom pattern, catalyzing a bullish rally that extended for over a week.

Leveraging this upswing, the bulls have driven the price to exceed its previous peaks.

However, they have encountered a resistance obstacle at the $0.16 level, prompting a brief retreat to the preceding support point of $0.10. This indicates signs of a recovery in BLZ’s price trend.

The potential for a rebound is further bolstered by the daily 50 and 200 moving averages, which are currently backing this notion as the price remains positioned above them at $0.069 and $0.074, respectively.

The 50-day moving average, however, is on the brink of crossing the 200-day moving average.

This scenario could confirm BLZ’s bullish rally, offering substantial momentum for an upward price surge.

In contrast, the relative strength index presents a divergent perspective, as it trends downward at 55, approaching the neutral mark of 50.

This suggests a prevailing selling pressure; however, a resurgence at the 50 level remains possible.

A potential price rebound for BLZ is anticipated around the $0.10 support level, which could trigger an additional price upswing with key resistance points at $0.15 and $0.18.

However, a candlestick beneath the $0.10 support level might prompt the bulls to seek stability around the $0.08 support level. This support level closely aligns with the 200-day SMA.

As BLZ tries to find its footing, WSM approaches its conclusion and promises guaranteed returns for investors who buy in now.

Wall Street Memes In Last Stage Offers Best BLZ Alternative

Wall Street Memes (WSM), driven by the ethos of Meme stocks, has garnered remarkable success in its ongoing presale phase, amassing over $25 million.

Its market impact positions it as the next cryptocurrency poised for explosive growth.

Alongside its impressive fundraising feats, the project has unveiled its upcoming staking service and multiple Tier 1 exchange listings, scheduled for September 27.

Once you see it you can't unsee it pic.twitter.com/59grS4kIUH

— Wall Street Memes (@wallstmemes) August 23, 2023

At its final stretch stage, a tiered presale, the Wall Street Memes token’s price is now $0.0337.

The palpable momentum propels the presale towards its ultimate allocation goal of $30 million.

Its influence spans multiple platforms. The Wall Street Bets Instagram account boasts an impressive following of 534k, with an engaged audience of 260,000 on X (previously known as Twitter).

Furthermore, its additional Instagram channels, namely wallstgonewild and wallstbullsnft, have attracted over 100,000 enthusiasts.

This momentum gained further traction with the recent introduction of the Wall Street Bulls Ordinals NFT Collection in May.

The creators’ prowess in the NFT domain is unmistakable, as evidenced by their remarkable feat with the Wall Street Bulls 10,000-piece NFT collection in 2021, which generated an astounding $2.5 million in just 32 minutes.

"I'll make it all back in one trade bro" pic.twitter.com/cpQXhHoJ7i

— Wall Street Memes (@wallstmemes) August 24, 2023

The total token supply cap for $WSM stands at 2 billion tokens, all exclusively reserved for the community.

The presale allocates 50%, while 30% is earmarked for community rewards, and the remaining 20% ensures liquidity on exchanges.

Participate in $50,000 Airdrop, Acquire WSM Tokens Effortlessly

The team is orchestrating a $50,000 airdrop to celebrate the WSM presale launch. This airdrop targets holders actively participating in the project’s social media channels, including platforms like Discord.

Buying Wall Street Memes (WSM) tokens is a streamlined process. You can get your tokens by connecting your wallets to the WSM website, allowing you to acquire these tokens effortlessly. You can trade your ETH, BNB, or USDT (ERC-20 or BEP-20) for $WSM.