Balancer (BAL) Increases by 5.92% to Rank 2nd on the Daily Crypto Movers List

Balancer’s (BAL) price action has extended yesterday’s upside gain today in a more significant manner. Furthermore, looking at this market, it could be seen that price action still has more chances of upside advancement.

Balancer Analysis Data:
BAL value now: $7.65
BAL Protocol Market Cap: $372,346,904
Balancer Moving Supply: 48,938,688
BAL Total Supply: 56,523,524
Balancer CoinMarketCap ranking: 106

Major Price Levels:
Top: $7.65, $7.85, and $8.05
Base: $7.45, $7.25, and $7.05

Balancer’s (BAL) Market Bulls Stay Dominant

The last price candle on the BALUSD daily market has revealed that buyers keep pushing the market higher. Furthermore, signs coming from trading indicators on this chart are positive about additional price increases in this market. The applied Stochastic Relative Strength Index (RSI) indicator has just given an upside crossover. At the same time, the Moving Average Convergence and Divergence (MACD) indicator has just indicated that the upside traction in this market is renewed. This can be seen as the line of the MACD indicator having just bounced off of a bearish crossover to set a bullish tone. Therefore, it appears that price action still has an upside focus in this market.

Buyers in the Balancer (BAL) market are Retaining their Aggressive Approach

On the BALUSD 4-hour market, buyers here have shown significant aggressiveness, as they appear to have overpowered the sellers. After price action crossed above the middle limit of the Bollinger Bands on this chart, prices ramped up to poke through the highest limit of the indicator. Meanwhile, the lines of the RSI are now in the overbought region, with their lines almost reaching the peak level of the indicator. Likewise, the MACD curves are also still rising above the equilibrium point, while their bars are still green. However, a tiny hammer-like red price candle only manages to appear lastly on this chart to portray a minor downward retracement. From this, we can conclude that bears remain subdued as prices remain on track toward the $8.00 price mark.

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