Balancer Price Prediction 2022 — Will BAL Hit $35 Soon?
- Bullish BAL price prediction is $13.39 to $34.49.
- The BAL price will also reach $35 soon.
- BAL’s bearish market price prediction for 2022 is $10.62.
In Balancer’s (BAL) price prediction 2022, we use statistics, price patterns, RSI, RVOL, and much other information about BAL to analyze the future movement of the cryptocurrency.
Balancer Current Market Status
According to CoinGecko, the price of BAL is $12.03 with a 24-hour trading volume of $16,890,774 at the time of writing. However, BAL has increased 2.3% in the last 24 hours.
Moreover, BAL has a circulating supply of 10,799,858 BAL. Currently, BAL trades in cryptocurrency exchanges such as Binance, OKX, Hotcoin Global, Mandala Exchange, and Bitget.
What is Balancer (BAL)?
Balancer (BAL) is an Ethereum token that powers the Balancer protocol, an automated market maker that lets anyone create or add liquidity to trading pools while earning customizable trading fees. Balancer pools can have up to 8 tokens and each token can be individually weighted within the pool, such that one token can make up as little as 2% of the total. Balancer uses custom programs called smart contracts to ensure each pool retains the correct proportion of assets even as the prices of individual coins in the pools might vary. Balancer offers private and public pools, aimed at users with different risk appetites. Public pools allow any users to provide liquidity by adding or withdrawing assets.
Balancer (BAL) Price Prediction 2022
Balancer holds the 362nd position on CoinGecko right now. BAL price prediction 2022 is explained below with a daily time frame.
The falling wedge is a bullish pattern. Together with the rising wedge formation, these two create a powerful pattern that signals a change in the trend direction. The falling wedge pattern occurs when the asset’s price is moving in an overall bullish trend before the price action corrects lower. Within this pullback, two converging trendlines are drawn. One of the main features of the falling wedge pattern is the volume, which decreases as the channel converges.
The most commonly falling wedge pattern occurs in a clean uptrend. The price action trades higher, however, the buyers lose the momentum at one point and the bears take temporary control over the price action.
Currently, BAL is in the range of $12.03. If the pattern continues, the price of BAL might reach the resistance level of $13.66, & $15.93. If the trend reverses, then the price of BAL might fall to the support level at $10.69.
Balancer (BAL) Support and Resistance Level
The below chart shows the support and resistance level of BAL.
From the above daily time frame, it is clear the following are the resistance and support levels of BAL.
| Resistance Level 1 | $13.39 |
| Resistance Level 2 | $16.15 |
| Resistance Level 3 | $19.91 |
| Resistance Level 4 | $23.06 |
| Resistance Level 5 | $28.61 |
| Resistance Level 6 | $34.49 |
| Support Level 1 | $10.62 |
The charts show that BAL has performed a bullish trend over the past month. If this trend continues, BAL might run along with the bulls overtaking its resistance level at $34.49.
Accordingly, if the investors turn against the crypto, the price of the BAL might plummet to almost $10.62, a bearish signal.
Balancer Price Prediction 2022 — RVOL, MA, and RSI
The Relative Volume (RVOL) of BAL is shown in the below chart. It is an indicator of how the current trading volume has changed over a period of time from the previous volume for traders. Currently, the RVOL of BAL lies below the cutoff line, indicating weaker participants in the current trend.
More so, the BAL’s Moving Average (MA) is shown in the chart above. Currently, BAL is in a bearish state. Notably, the BAL price lies below 50 MA (short-term), so it is completely in a downward trend. Therefore, there is a possibility of a reversal trend of BAL at any time.
Meanwhile, the relative strength index (RSI) of the BAL is at level 44.57. This means that BAL is in a nearly oversold state. However, this means a major price reversal of BAL may occur in the upcoming days. So, traders need to trade carefully.
Balancer Price Prediction 2022 — ADX, RVI
Let us now look at Balancer’s Average Directional Index (ADX). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.
The above chart represents the ADX of Balancer. Currently, BAL lies in the range of 22.91, so it indicates a weak trend.
From the above chart, the Relative Volatility Index (RVI) of BAL. RVI measures the constant deviation of price changes over a period of time rather than price changes. The RVI of BAL lies below the 50 levels, indicating that the direction of volatility is low. In fact, BAL’s RSI is at a 44.57 level thus confirming a potential sell signal.
Comparison of BAL with BTC, ETH
The below chart shows the price comparison between Bitcoin, Ethereum, and Balancer.
From the above chart, we can identify the trend of the ETH, BTC, and BAL is moving at the same level as the trend. This indicates that when the price of BTC increases or decreases, the price of ETH and BAL also increases or decreases respectively.
Conclusion
With continuous improvements in the Balancer network, we can say that 2022 is a good year for BAL. For this reason, the bullish price prediction of Balancer in 2022 is $34.49 On the other hand, the bearish BAL price prediction for 2022 is $10.62.
Furthermore, with the advancements and upgrades on the BAL ecosystem, the performance of BAL would help to reach above its current all-time high (ATH) $74.45 very soon. But, it might also reach $35 if the investors believe that BAL is a good investment in 2022.
FAQ
Balancer (BAL) is an Ethereum token that powers the Balancer protocol, an automated market maker that lets anyone create or add liquidity to trading pools while earning customizable trading fees.
BAL has listed on many crypto exchanges which include Binance, OKX, Hotcoin Global, Mandala Exchange, and Bitget.
With the ongoing developments and upgrades within the BAL platform, it has a high possibility of reaching its ATH soon.
On May 04, 2021, BAL reached its new all-time high (ATH) of $74.45.
Balancer (BAL) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of BAL in the past few months, BAL is considered a good investment in 2022.
Balancer (BAL) is one of the active cryptos that continues to maintain its Bullish state. Eventually, if this bullish trend continues then Balancer (BAL) will hit $35 soon.
Balancer (BAL) price is expected to reach $48 by 2023.
Balancer (BAL) price is expected to reach $51 by 2024.
Balancer (BAL) price is expected to reach $67 by 2025.
Balancer (BAL) price is expected to reach $75 by 2026.
Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.
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