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 July 08, 2024, Bluzelle is trading at approximately 0.0 BTC. Let’s dive into the detailed price action for BLZ-BTC:
| Metric | Value |
|---|---|
| Open (O) | 0.0 |
| High (H) | 0.0 |
| Low (L) | 0.0 |
| Close (C) | 0.0 |
| Volume (C) | 751,983.00 |
- Open (O): The opening price for today’s trading session was approximately 0.0 BTC.
- High (H): Bluzelle reached a daily high of around 0.0 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 (%) | 5.76% |
| 3D Change (%) | 13.45% |
| 7D Change (%) | -3.41% |
| 30D Change (%) | -16.80% |
| 90D Change (%) | -48.85% |
| YTD Change (%) | -60.95% |
Over the past three days, BLZBTC has experienced a significant surge of approximately 13.45%, indicating increased market volatility. In contrast, over the last week, it has continued to decline by around -3.41%, suggesting a shift in investor interest. A 30-day analysis provides a more comprehensive view, revealing a downward trend of approximately -16.80%. Looking further back at the last 90 days, BLZBTC has witnessed a substantial drop of around -48.85%, reflecting a decline in long-term confidence. Year-to-date, BLZBTC has steadily declined by approximately -60.95%.
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 1.12016.
- Momentum score is -0.20611.
BLZ BTC Technical Analysis
Bluzelle Trading Volume:
The trading volume for Bluzelle (BLZ) over the past 24 hours has been insignificant, with approximately 751,983.00 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 41.27074. This suggests that Bluzelle is in bearish territory.
Analysis from TradingView:
Our Key Takeaways: Bluzelle (BLZ-BTC) is currently experiencing short-term bearish momentum, with key support and resistance levels drawing attention. Traders and investors should closely monitor the BTC monthly resistance level and the BTC support level for potential trading opportunities. Furthermore, the low RSI and insignificant trading volume are low signals indicating a potential downward movement.
Bluzelle (BLZBTC) faces challenges, trading at 3.12e-06 BTC, as technical analysis signals weakened support and cautionary indicators.
For a deeper dive into the subject, don’t miss our comprehensive analysis on BLZ USDT Bluzelle Technical Analysis if you found this post intriguing.
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.