Balancer (BAL) and bZx Protocol (BZRX) Technical Analysis: Buyers Digging In, More Gains Incoming?

Dalmas  |  Sep 3, 2021

Balancer and bZx Protocol bulls are confident. From the BAL technical analysis, prices might expand to H1 2021 highs of $65.

Balancer (BAL)

BAL powers the DEX and the auctioning platform. Unique, its AMM pools can support more than one token at a time.

Past Performance of BAL

Technically, the uptrend is valid.

However, traders should also notice the deep retracements of Q2 2021, of which BAL crypto bulls are now trying to unwind.

In the last few days, the series of higher highs explains why BAL was one of the top performers on the previous trading day, adding five percent against the greenback in the past 24 hours.

Day-Ahead and What to Expect

As per BAL technical analysis, the token is trading within a bullish breakout pattern.

Nonetheless, prices are consolidating.

The sideways movement could present opportunities for traders once there is a high-volume break above $32.

Balancer Technical Analysis

Balancer Price Daily Chart for September 3

The uptrend is confirmed, and Balancer crypto bulls are ecstatic.

Since BAL bull bars are beginning to band along the upper BB, aggressive traders might add to their longs in sync with August 31 and September 1 wide-ranging bull bars.

Their immediate targets lie at $44 and later $65. Unexpected dips below $25—the immediate support—cancel bulls.

bZx Protocol (BZRX)

The DEX in Ethereum has an incentivized yield farming program for active users using the BZRX governance token.

Past Performance of BZRX

The bZx Protocol crypto continues to defy gravity, repulsing bear pressure reading from the BZRX technical analysis.

Presently, the bZx Protocol token is relatively stable versus the greenback, reversing from the middle BB, suggesting a strong incentive from buyers for a trend continuation.

Day-Ahead and What to Expect

The market-wide recovery of prices bodes well with bulls, reading from the bZx Protocol technical analysis in the daily chart.

Nonetheless, bZx Protocol coin prices are in range mode inside the last week of the August trade range.

With the middle BB offering support, a surge above August 2021 highs of $0.45 would confirm buyers, possibly sparking more upside pressure.

bZx Protocol Technical Analysis

BZRX Price Daily Chart for September 3

Overall, BZRX prices are firm and bullish, courtesy of August 2021 gains.

Even so, the current consolidation is forcing apprehension among risk-on traders.

As such, better opportunities might exist above $0.45 once there is a break above the current sideways movement.

On the other hand, sharp losses below the middle BB and $0.40 would pour cold water on optimistic bulls.

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