Brief Analysis——BLUR

2023年9月21日

We talked about the NFT market and APE yesterday. Coincidentally, BLUR, one of the largest NFT marketplace, released news suggesting that it will bring a new update. As a competitor of OpenSea, BLUR’s token price is often dragged down by large unlocks and continues to fall. We will take a look at how BLUR, the token of leading NFT marketplace, moves.

https://x.com/PacmanBlur/status/1704500473326154096?s=20

1d https://www.tradingview.com/x/JF341geI/

At the daily level, BLUR remains bearish on a large scale, and the recent trading volume has not strengthened. Nothing special about it at this level.

Switching to the 1h level, we can see that BLUR entered a callback after a short period of rise. WTA indicators show that whale participation has increased significantly during the rise. However, after the price reach the previous high, the callback was relatively violent, a long upward pin-bar appeared, and the whale disappeared in the process. Like our previous analysis for other coins, this situation is not good. Judging from the MBF indicator, there was an obvious bottom-buying sentiment before the closing yesterday, and the price rose again after that.

The impact of the news caused prices to rise, attracting whales. If BLUR does not appear a long red candle in the subsequent movement, and whale participation increases again, then this round of rise may not be over.

Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.

Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.