The post BLUR Witnessed Underperformance: Analysts Guide Bearish Outlook appeared on BitcoinEthereumNews.com.

The Blur (BLUR) token price showed a consistent selloff and dragged below its key moving averages, displaying underperformance on the chart.  Trading in the bearish trajectory, the token has experienced a severe selloff and lost over 60% of gains in the past three months. Following a double top formation and a rejection from the supply zone, the seller army continued to dominate the battle and endured pushing the BLUR token from the highs.  The price action signifies a follow-on selloff; buyers cannot hold on to the gains. It has faced multiple rejections from the 50-day EMA mark for weeks, which signifies the lack of bullish momentum. The lower low swings were intact, and the token split its crucial range support of $0.3400 last week. Still, if the token slips below $0.3000, the correction will extend further toward $0.2500 soon. At press time, the BLUR was trading at $0.3105 with an intraday drop of 3.26%, reflecting bearishness on the charts. It has a monthly return ratio of -15.90% and -23.20% yearly, reflecting a downtrend. The pair of BLUR/BTC is at 0.00000469 BTC, and the market cap is $520.83 Million. Analysts are bearish and suggest that the BLUR price may face a follow-on selloff and might retest $0.2500 ahead. Will the Selloff Ease Ahead, or is Correction Imminent? Per the TradingView charts, BLUR has escaped out-of-the-range bound moves and witnessed a breakdown last week. Afterward, the buyers failed to attain any noteworthy pullback and faced a lack of strength. Meanwhile, investors are not confident about buying the token due to its severe downtrend. The trend remained negative until the token was sustained above its 20-day EMA mark. Source: TradingView The price action favors the bear cartel and reveals severe distribution from the highs. Meanwhile, a few technical indicators are guiding that the…

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Filed under: News - @ June 16, 2024 1:18 pm