Balancer (BAL) and inSure DeFi (SURE) Technical Analysis: What to Expect? - Crypto News

Balancer (BAL) and inSure DeFi (SURE) Technical Analysis: What to Expect?

After accumulation, Balancer technical analysis points to demand in a move where BAL/USDT may reach $100. On the other hand, inSure DeFi (SURE) is bottoming up versus ETH. It could bounce back to April 2021 highs.

Insure DeFi (SURE)

Insurance is big business and big money. In DeFi, where portfolios can dip due to rug pulls, insurance is a lifesaver. And this is where inSure DeFi steps in using its token, SURE, enabling a cushion for traders and investors.

Past Performance of SURE

SURE technical analysis suggests reprieve and a possible correction. As SURE’s liquidity grows, the token remains in a tight range versus the greenback, trading at $0.007662, confined within a $0.006708 and $0.009506 on the last trading day.

SURE trading volumes are up 43 percent to $2.4 million on the last day.

Day-Ahead and What to Expect

SURE/ETH is bottoming up after plunging versus the ETH from mid-Apr 2021. Technically, there are hints of support. However, SURE prices may plunge if the 20-day moving average continues to act as flexible resistance.

From the daily chart, the leg up is with rising trading volumes.

SURE/WETH Price Forecast

There might be an opportunity for traders to ride the uptrend if SURE bulls close above the 20-day moving average.

There is a three-bar bullish reversal pattern with rising volumes, a hint of demand in the daily chart. Since SURE has support at around the 61.8 percent Fibonacci retracement level, the immediate buy target would be Apr 2021 highs.

A reversal below Apr 2021 lows may see SURE prices plunge back to Jan 2021 lows.

Balancer (BAL)

Innovation makes Balancer unique. Being an AMM-dependent protocol, it differentiates itself by being a self-balancing weighted portfolio that’s customizable. BAL allows the community to govern the protocol.

Past Performance of BAL

The BAL price is trading at new 2021 highs, changing hands at $70. However, it within an $8 zone, constrained within $61 and $70 on the last trading day. Behind the breakout is an uptick in trading volumes which are up 168 percent to $193 million.

Day-Ahead and What to Expect

The Balancer technical analysis hints at demand. At $70, the token is outperforming the greenback, adding 13 percent on the last day.

The BAL/USDT price is within a bullish breakout pattern, suggesting demand in lower timeframes. A close above $65 could catalyze more demand, driving BAL towards $100.

BAL/USDT Price Forecast

After over six weeks of accumulation, the BAL/USDT broke above $65 and Q1 2021 highs in a buy trend continuation.

Bouncing off from the 38.2 percent Fibonacci retracement level at $45—the primary support and sell trigger, the first target is $100—the 1.618 Fibonacci extension level of the same range. Losses below $50 nullify this uptrend for BAL.



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