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 December 05, 2023, Bluzelle is trading at approximately 1e-05 BTC. Let’s dive into the detailed price action for BLZ-BTC:
- 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 1e-05 BTC.
- Close (C): At the time of analysis, Bluzelle is trading near its daily close of 1e-05 BTC.
|1D Change (%)||-4.30%|
|3D Change (%)||-7.29%|
|7D Change (%)||-7.01%|
|30D Change (%)||-22.12%|
|90D Change (%)||18.67%|
|YTD Change (%)||109.76%|
Over the past three days, BLZBTC has dropped by approximately -7.29%, showcasing increased market volatility. Throughout the last week, it continued to drop, with a loss of around -7.01%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with BLZBTC maintaining a downward trend of approximately -22.12%, despite intermittent fluctuations. Examining the last 90 days, BLZBTC has witnessed substantial increase of approximately 18.67%, reflecting strong long-term confidence. Year-to-date, BLZBTC has steadily appreciated by around 109.76%, 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 0.67844.
- Momentum score is -0.22125.
BLZ BTC Technical Analysis
Bluzelle Trading Volume:
The trading volume for Bluzelle (BLZ) over the past 24 hours has been insignificant, with approximately 735,326.00 BTC traded against BLZ. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
- 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 neutral zone, around 48.66423. This suggests that Bluzelle is in range-bound 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 neutral RSI and insignificant trading volume are neutral signals for potential sideways movement.
Explore Bluzelle’s (BLZBTC) potential challenges at 6.23e-06 BTC as technical analysis leans bearish, emphasizing 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.