Bluzelle Coin Price Prediction: What’s Next for BLZ’s Rally?
Bluzelle (BLZ) Price Prediction: What’s Driving BLZ and What’s Next?
Binance announced the Delist of three tokens—WRX, AKRO, and BLZ—from its platform. The news triggered an immediate market reaction, with BLZ plummeting by 37% within just a few hours.
Current Technical Overview:
The weekly chart for Bluzelle indicates significant volatility, with the current price at $0.0702, reflecting a 55.32% decline within the past week. The sharp drop has brought the price near a critical support level at $0.0486, as highlighted by historical trading data. The RSI stands at 37.78, signaling oversold conditions and the potential for a technical rebound.
BLZ Coin Historical Context and Market Sentiment:
The chart shows a clear downtrend since its peak in 2022, followed by prolonged consolidation between $0.050 and $0.120 throughout 2023.
A bullish breakout was observed in late 2023, driving prices above $0.350. However, the momentum failed to sustain, leading to a gradual decline back to current levels.
BLZ Coin Key Support and Resistance Levels:
Support Levels:
Immediate support lies at $0.0486, where prices have previously rebounded. A breakdown below this level may trigger further downside toward $0.030, which aligns with historical lows.
Resistance Levels:
Upside resistance stands at $0.100 (psychological level) and $0.150, which served as a pivot during the mid-2024 uptrend.
Bluzelle Coin Short-Term Outlook:
If the price holds above $0.0486, a relief rally to $0.100 is possible, supported by oversold RSI conditions. However, failure to hold this level could lead to a capitulation phase, pushing the price into uncharted bearish territory.
Bluzelle Coin Medium to Long-Term Outlook:
Bluzelle's price action suggests a period of consolidation in the medium term, provided it maintains its key support zone. By Q1 2025, if market sentiment improves and fundamentals align with positive developments, a recovery toward $0.150-$0.200 may unfold. Conversely, extended bearish pressure could cap gains below $0.120.
Investment Strategy:
Risk-Averse Traders: Consider waiting for confirmation of a rebound from $0.0486 before entering long positions.
Aggressive Traders: A short-term buy near support could yield a quick 20%-30% gain, targeting $0.100.
Long-Term Investors: Accumulate cautiously between $0.048-$0.070, with a focus on a potential recovery driven by broader market trends.
