BLZ BTC Bluzelle Technical Analysis

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By Frans van Elst

Bluzelle logo In this Bluzelle technical analysis, we will examine the current price action, trading volume, key levels and indicators for BLZ-BTC. Bluzelle (BLZ) is a decentralized data storage and computing network that leverages blockchain technology to provide secure, transparent, and high-performance solutions for enterprises. BLZ utilizes a novel consensus algorithm called “Proof of Space” to incentivize node operators to contribute excess hard drive space and processing power to the network. As a result, Bluzelle offers a scalable and cost-effective alternative to traditional cloud storage services.

Bluzelle Price Overview:

As of May 18, 2024, Bluzelle is trading at approximately 0.0 BTC. Let’s dive into the detailed price action for BLZ-BTC:

Consider bearish sentiment for Bluzelle (BLZBTC) at 4.99e-06 BTC with technical analysis, highlighting weakened support and cautionary indicators.

Metric Value
Open (O) 1e-05
High (H) 1e-05
Low (L) 0.0
Close (C) 0.0
Volume (C) 868,726.00
  • Open (O): The opening price for today’s trading session was approximately 1e-05 BTC.
  • High (H): Bluzelle reached a daily high of around 1e-05 BTC.
  • Low (L): The daily low for BLZ-BTC was approximately 0.0 BTC.
  • Close (C): At the time of analysis, Bluzelle is trading near its daily close of 0.0 BTC.
Metric Value
1D Change (%) -7.93%
3D Change (%) -11.37%
7D Change (%) -17.38%
30D Change (%) -24.05%
90D Change (%) -33.82%
YTD Change (%) -37.55%

Over the past three days, BLZBTC has declined by approximately -11.37%, showcasing increased market volatility. Throughout the last week, it continued to decline, with a loss of around -17.38%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with BLZBTC maintaining a downward trend of approximately -24.05%, despite intermittent fluctuations. Examining the last 90 days, BLZBTC has witnessed substantial decline of approximately -33.82%, reflecting strong long-term confidence. Year-to-date, BLZBTC has steadily decreased by around -37.55%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.

Bluzelle Live Chart:

You can access a live price chart for BLZ-BTC on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.

Price Volatility and Momentum:

  • Volatility score is 0.57754.
  • Momentum score is -0.08608.

BLZ BTC Technical Analysis

Bluzelle Trading Volume:

The trading volume for Bluzelle (BLZ) over the past 24 hours has been significant, with approximately 868,726.00 BTC traded against BLZ. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.

Moving Averages:

  • 50-day Simple Moving Average (SMA): BLZ is currently trading below the 50-day SMA, indicating short-term bearish momentum.
  • 200-day Simple Moving Average (SMA): Bluzelle is also trading below the 200-day SMA, indicating a negative long-term outlook.

Relative Strength Index (RSI):

  • The RSI30 for BLZ-BTC is currently in the low zone, around 42.53796. This suggests that Bluzelle is in bearish territory.

Analysis from TradingView:

Our Key Takeaways:

Bluzelle (BLZ-BTC) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the BTC monthly resistance level and the BTC support level for potential trading opportunities. Additionally, the low RSI and significant trading volume are low signals for potential downward movement.

Consider bearish sentiment for Bluzelle (BLZBTC) at 4.99e-06 BTC with technical analysis, highlighting weakened support and cautionary indicators.

Explore more with our thorough insights on BLZ USDT Bluzelle Technical Analysis — an essential read if you enjoyed the content of this post.

Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.

Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.

Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.

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