Balancer Price Prediction – How Much Will BAL Be Worth in 2021?

Balancer Price Prediction – How Much Will BAL Be Worth in 2021?
  • Bullish Balancer price prediction ranges from $32.05 to $63.57.
  • Balancer prices might also reach $85 soon.
  • BAL bearish market price prediction for 2021 is $15.63.

In Balancer (BAL) price prediction 2021, we use statistics, price patterns, RSI, and much other information about BAL to analyze the future movement of the cryptocurrency. 

An automated market maker (AMM) Balancer which was developed on the blockchain of Ethereum, and launched in March 2020. Moreover, Balancer has raised over $3 million seed round by placeholder and accomplice. Even more, Balancer protocol works as a self-balancing weighted portfolio, price sensor, and liquidity provider. Furthermore, BAL enables users to gain profits via its recently added token ($BAL) by providing customizable liquidity pools. 

Let us see about the Balancer price prediction 2021.

Current Market Status of Balancer (BAL) 

According to CoinGecko, the Balancer price is trading at $30.45 with a 24-hour trading volume of $51,637,919, at the time of writing. However, Balancer has decreased by 2.8% in the last 24 hours. 

Currently, Balancer trades in cryptocurrency exchanges such as Binance, Hotcoin Global, Tokocrypto, OKEx, and CoinTiger.

Balancer (BAL) Price Prediction 2021

Balancer (BAL) holds the 190th position on CoinGecko right now. Balancer price prediction 2021 explained below with a daily time frame. 

BAL/USDT Showing Ascending Triangle Pattern (Source: TradingView)

The ascending triangle is most commonly seen during uptrends and is often interpreted as a bearish signal. The ascending triangle pattern is the reverse of the descending triangle pattern.

As the price continues to make higher highs, ascending triangles indicate to investors and traders that buyers are more aggressive than sellers. Contrary to popular belief, an ascending triangle can be bullish or bearish. A regular ascending triangle pattern is traditionally regarded as a bullish chart pattern. An ascending triangle pattern, on the other hand, can be bullish.

Currently, BAL is trading at $30.28. After this, BAL may continue to fall or rise according to the direction of breakout. With this pattern, BAL might reach the resistance level at $63.57 soon. If the trend reverses, then the price of BAL may fall to $23.82.

Balancer (BAL) Support and Resistance Level

The below chart shows the support and resistance level of Balancer (BAL). 

BAL/USDT Support and Resistance Level (Source: TradingView)

From the above chart, it is considered that the following are the resistance and support levels of Balancer (BAL).

  • Resistance Level 1 – $32.05
  • Resistance Level 2 – $44.7
  • Next Resistance Level 3 – $63.57
  • Support Level 1 – $23.82
  • Support Level 2 – $15.63

The chart depicts the bullish performance of Balancer over the previous month. However, this trend will continue to reach a resistance level at $63.57 soon. Even more, if the trend reversed then Balancer might fall to $15.63 presenting a bearish signal.

Balancer (BAL) Average Directional Index (ADX)

Let us now look at Reserve Rights’s Average Directional Index (ADX). In particular, the ADX assists traders in determining the strength of a trend rather than its direction. It can also be used to determine whether the market is changing or if a new trend is beginning. It is, however, linked to the Directional Movement Index (DMI).

Moreover, the oscillator has a range of 0 to 100. In addition, a high value represents a strong trend, while a low value represents a weak trend. Furthermore, it is frequently combined with directional indicators.

   BAL/USDT ADX (Source: TradingView)

The above chart represents the ADX of Balancer. Currently, Balancer lies in the range at 49.33, so it indicates a strong trend. This shows that the price of ADX can go bullish in the future.

Conclusion

Balancer is one of the cryptos which is great for long-term investment. In addition, Balancer price prediction is bullish for a short-term. It has a good chance of reaching $63.57 within the end of this year. However, this will only happen if many previous psychological barriers are broken.

Furthermore, with the advancements and upgrades on the Balancer ecosystem, the performance of Balancer would rise reaching $70 very soon. But, it might also reach $85 if the investors believe that Balancer is a good investment in 2021.

Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

Cryptocurrency and blockchain tech interest has enticed Carolyna to write for NewsCrypto. She made her personal mission to help non-crypto geeks to understand the technology with ease.