By evaluating the price data of the BAL coin, it is observed that it is in a downtrend. The price inclined by 6.71% in the last seven days and we can say that it performed well last week. From its peak price of $74.45, it fell -93.70% in the last 2 years. The coin demolished the major investor’s wealth. The current market views are not so good about the coin. No huge volume is present in it. As of now, there is no buyer interested in buying the Balancer Coin. There is bearish dominance in the market.
The price of Balancer Coin (BAL) has slipped below 50 and 200 EMA, which suggests that the price is in a bearish trend. If the sellers continue to push the price down, the coin’s value may fall even further in the upcoming week. The sellers are not in the mood to give power to buyers. A death cross has been noticed in the chart, which gives a negative sign.
The technical indicator MACD is also in negative territory. The MACD line at -0.15 and signal line at -0.22 is below the zero line, suggesting that the MACD is in negative territory and is giving bearish signals.
The current value of RSI is 48.67 points. The 14 SMA line is currently below the median line, around 33.78 points which shows bearish sentiment in the market. The bearish trend is indicated by the 14-day SMA line below the median line. As the price is in oversold territory, the market is experiencing bearish sentiment.
The price has respected its significant trendline support and is heading for resistance. When the price breaks the trendline, it will go to the next resistance and if it gets struck back by the resistance, then it will fall back to the recent support.
Balancer coin (BAL)’s trading volume of 24 hours is $4126504, with a 32.60% increase in volume in the last 24 hours. Its volume has significantly decreased.
Balancer (BAL) is facing a tough time in the market. The price action shows that if the price breaks the recent support then it will go down more. Major reliable indicators like EMA, RSI, and MACD give negative signals about Balancer. Fear is developed among investors because of the poor performance of the coin. Balancer Coin is not showing any recovery signs right now.
The analysis given in this article is for informational and educational use only. Do not take this information as financial or trading advice. Trading and investing contain financial risk. Before making any investment or trading decision, please consider your risk profile and circumstances.
Cryptocurrencies have grown rapidly worldwide. One of the most popular ways for investors to earn…
Key Insights The memecoin market is rapidly expanding, with Shiba Inu leading the charge. However,…
September 20th, 6:00 PM to 8:00 PM, Singapore – Mark your calendars for another edition…
Key Insights The crypto market is attempting to revive, with Bitcoin attempting to break above…
After FTX’s fall from grace back in 2022, many feared a total crypto market collapse.…
Key Insights Presales are some of the biggest ways to make massive profits in the…