{"id":433064,"date":"2023-08-25T09:31:11","date_gmt":"2023-08-25T09:31:11","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=433064"},"modified":"2023-08-25T09:31:11","modified_gmt":"2023-08-25T09:31:11","slug":"bluzelle-price-analysis-blz-surges-ahead-how-long-will-bull-run-last","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/bluzelle-price-analysis-blz-surges-ahead-how-long-will-bull-run-last","title":{"rendered":"Bluzelle Price Analysis: BLZ Surges Ahead \u2013 How Long Will Bull Run Last?"},"content":{"rendered":"

During the previous week, the price of Bluzelle (BLZ) significantly increased, capturing the interest of numerous investors eager to invest in the token.<\/span><\/p>\n

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,<\/span> and is <\/span>trading at $0.10<\/span><\/a>. <\/span><\/p>\n

Nonetheless, its performance over the week remains high, displaying a substantial 31.8% rise. <\/span><\/p>\n

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.<\/span><\/p>\n

BLZ Price Signals a Rebound on Support Level<\/span><\/h2>\n
\"BLZ\/USD
BLZUSD Chart Analysis. Source: Tradingview.com<\/figcaption><\/figure>\n

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. <\/span><\/p>\n

This stabilization was reinforced by the emergence of a double-bottom pattern, catalyzing a bullish rally that extended for over a week.<\/span><\/p>\n

Leveraging this upswing, the bulls have driven the price to exceed its previous peaks. <\/span><\/p>\n

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.<\/span><\/p>\n

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. <\/span><\/p>\n

The 50-day moving average, however, is on the brink of crossing the 200-day moving average. <\/span><\/p>\n

This scenario could confirm BLZ’s bullish rally, offering substantial momentum for an upward price surge.<\/span><\/p>\n

In contrast, the relative strength index presents a divergent perspective, as it trends downward at 55, approaching the neutral mark of 50. <\/span><\/p>\n

This suggests a prevailing selling pressure; however, a resurgence at the 50 level remains possible.<\/span><\/p>\n

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. <\/span><\/p>\n

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.<\/span><\/p>\n

As BLZ tries to find its footing, WSM approaches its conclusion and promises guaranteed returns for investors who buy in now.<\/span><\/p>\n

Wall Street Memes In Last Stage Offers Best BLZ Alternative<\/span><\/h2>\n

Wall Street Memes (WSM)<\/span><\/a>, driven by the ethos of Meme stocks, has garnered remarkable success in its ongoing presale phase, amassing over $25 million. <\/span><\/p>\n

Its market impact positions it as the next cryptocurrency poised for explosive growth. <\/span><\/p>\n

Alongside its impressive fundraising feats, the project has unveiled its upcoming staking service and multiple Tier 1 exchange listings, scheduled for September 27.<\/span><\/p>\n

\n

Once you see it you can't unsee it pic.twitter.com\/59grS4kIUH<\/a><\/p>\n

— Wall Street Memes (@wallstmemes) August 23, 2023<\/a><\/p><\/blockquote>\n