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BLUR Price Jumps By 23% Today! Will BLUR Token Reach $0.6 Soon?
BLUR token has claimed the spot of top gainer as the price has recorded a surge of over 23% in value. The Season 2 of Airdrop is assumed to be the prime reason for this price pump.
BLUR Token Price Action:
Despite the market surge during the month of October, the BLUR token price was seen trading in a consolidated range between $0.2198 and $0.2626 for a brief period. November started on a positive note as the price gained momentum and successfully broke out of the resistance level.
TradingView: BLUR/USDT
The BLUR token hovered around the level of $0.3019 for a while after which the price regained momentum and broke out. Further, the price was rejected at $0.3941, following which the price was seen trading in a narrow space between $0.3517 and $0.3941 for a period.
The market bulls then successfully broke out of the range but the rally was short-lived as the price was rejected at $0.4500. Following this, the price lost momentum and constantly lost value as it recorded a loss of approximately 32% during a period of one week.
The price made multiple attempts to break down the range, but the bulls held the price strong, resulting in the Blur token regaining momentum and successfully breaking out of its key resistance level at $0.4500.
Presently, the token is hovering close to its upper resistance level of $0.4993 and is predicted to test it soon of which the outcome is unpredictable.
Will BLUR Price Continue To Rise?
The Relative Strength Index (RSI) has recently breached the overbought range and continues to trade above it, indicating a massive bullish sentiment in the crypto space. Further, the average shows a constant rise toward the upper limit, suggesting the price to continue gaining value.
If the bulls hold the price above the support level of $0.4993, the price will continue to gain momentum and make a run to test the resistance level of $0.5500 soon.
Further, if the market holds the price at that level, it will set the stage for the Blur price to attempt to test its upper resistance level of $0.600 in the coming week.
Conversely. If the bears overpower the bulls, the price will lose momentum and fall to test its support level of $0.4500. Moreover, if the bears continue to dominate the market, it will plunge further and prepare to test its lower support level of $0.3941 soon.
#ContentStar# #BountyCreator# #GateioBountyCreator# #NewsMessenger# #GateLive# #contentstar# #MyFancyCreator# #HotTopicDiscussion# Bitcoin Holders Show Strong Conviction As Inactive Supply Hits Record 70%
Recent data analysis brings to light an extraordinary development in Bitcoin’s circulating supply. A significant 70% of the supply has remained untouched in transactions for the past year, establishing a record high for supply last active over one year. It seems like those holding Bitcoin don’t want to sell, especially not at the current prices.
Bitcoin Supply at Its Peak
In a crypto landscape marked by volatility and macro uncertainties, Bitcoin holders are displaying unwavering confidence. The percentage of supply dormant for two, three, and five years has simultaneously reached lifetime highs.
This signals that long-term investors are holding tight to their Bitcoin, even as its value soared to $37,000 this year. Meanwhile, the percentage of Bitcoin’s circulating supply that has remained inactive for at least a year has surged to a record 70.35%, surpassing the previous high of 69.35% in July.
This is the first time in Bitcoin’s history that we have exceeded 70%. Think about how significant this is – nearly 3 out of 4 bitcoin in circulation did not move despite Bitcoin’s rise from $15,700 to approximately $37,000.
Long-Term Investors Unfazed by Market Volatility
Despite Bitcoin’s price doubling to $37,000 this year, the data indicates that long-term investors are holding strong to their assets. The percentage of supply inactive for two, three, and five years has also hit lifetime highs, showcasing unwavering confidence among Bitcoin holders.
Bitcoin’s recent performance, more than doubling in value, hasn’t prompted these investors to sell. Meanwhile, Reflexivity Research suggests that the holders are not showing any intention of offloading their inventory at the current price levels or in the near future.
While these metrics paint a picture of committed HODLers, the landscape may shift with the growing financialization of Bitcoin through instruments like spot-based ETFs and cash-settled futures. As cryptocurrency enters new avenues, the dynamics of Bitcoin’s inactive supply might see changes influenced by evolving market trends.
#ContentStar# #BountyCreator# #GateioBountyCreator# #NewsMessenger# #GateLive# #contentstar# #MyFancyCreator# #HotTopicDiscussion# 