Recovery Signal for Blur? Whale Activity and Open Interest Increase!

Bittime - The crypto world is booming again, one of the assets that is attracting attention is Blur (BLUR). After being stuck at around $0.34 (Rp. 5,440), recently Blur has shown positive indications of rising.

Optimistic investors (bulls) try to build a strong foundation at this level to reverse the direction of the trend to bullish (up). In addition, observations of whale activity (large investors) and an increase in Open Interest (OI) give rise to potential signals of trend reversal.

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Whales and Blur Open Interest (OI) Increase, Sign of Recovery?

According to data from Santiment, whale transactions (large investors) have increased. This indicates that big investors may be accumulating BLUR assets. Usually, this accumulation is done in the hope that prices will increase in the future.

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Additionally, there is an interesting correlation between BLUR price and Open Interest (OI) data. Open Interest shows the number of derivative (asset-based) contracts that have not yet been closed. This correlation suggests that the upward trend in BLUR price may continue.

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Will Blur Hit the Top Again Soon?

Even though OI data and whale activity provide positive signals, BLUR's movement on the price chart does not yet show strong confirmation. 

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Currently, BLUR is still consolidating in the same price range. However, the recent increase in purchasing activity indicates positive movement in the market.

If the price manages to penetrate the resistance level of $0.437 (around Rp. 7,000), this can be interpreted as a trend reversal signal. With this breakthrough, BLUR has the potential to step up to the level of $0.5 (Rp. 8,000) or even $0.56 (Rp. 8,960).

However, it should be noted, as long as the price is still trapped between $0.34 (around Rp. 5,440) and $0.437 (around Rp. 7,000), it is likely that the consolidation trend and sideways movement will still dominate.

Conclusion

Blur (BLUR) shows hopes of recovery with the formation of a strong base in the $0.34 demand zone. The positive market trend, as well as the increase in whale activity and Open Interest, also strengthens the signal of a potential trend reversal. 

The data shows an increase in whale transactions and a rise in Open Interest, while the price stabilizes near the demand zone, reflecting bullish sentiment among traders.

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Further, a price surge beyond $0.437 could confirm a change in trend and open up upside opportunities to $0.5 and $0.56 levels. However, if the price still consolidates in the range of $0.34 to $0.437, the sideways trend will most likely continue.

How to Buy Blur (BLUR) on Bittime

You can buy and sell Blur (BLUR) in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

Blur (BLUR) is available on Bittime with the market pair BLUR/IDR. To be able to buy BLUR IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Learn the complete guide on how to buy Blur (BLUR) on Bittime. 

Monitor price chart movements of Blur (BLUR), Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.

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DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.