$BLUR strictly follow Downward trend. It will soon down to 0.2 value.
Go and invest in it take short trades on it.
Based on the provided $BLUR /USDT chart from Binance, here is a technical analysis report:
1. **Price Action**: The current price of BLUR/USDT is $0.2174, reflecting a significant decline of 14.61% in the last 24 hours.
2. **Volume Analysis**: The 24-hour trading volume for BLUR stands at 104.69M, indicating substantial trading activity.
3. **Support Level**: The recent 24-hour low of $0.2156 serves as a critical support level to watch.
4. **Resistance Level**: The 24-hour high of $0.2557 is the immediate resistance level that needs to be surpassed for a bullish reversal.
5. **Moving Averages**: The price is currently below the MA(7), MA(25), and MA(99), suggesting a bearish trend.
6. **Trend Analysis**: The descending trendline confirms the bearish sentiment as the price continues to form lower highs and lower lows.
7. **Market Sentiment**: The market sentiment is predominantly bearish with a strong selling pressure observed.
8. **Relative Strength Index (RSI)**: The RSI is not explicitly shown but based on the steep decline, it is likely approaching oversold territory.
9. **Short-Term Outlook**: Caution is advised for short-term traders as the downtrend may continue if the support level of $0.2156 is breached.
10. **Long-Term Consideration**: Investors should monitor any fundamental news and broader market trends for potential recovery signals before making long-term commitments.
Overall, the technical indicators suggest a cautious approach due to prevailing bearish conditions.
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