Balancer May Be Offering a Trading Opportunity With Its Cross Below Its 20 Moving Average

The Hourly View for Balancer

  • Currently, BAL’s price is down $-0.13 (-0.46%) from the hour prior.
  • It’s been a feast for bulls operating on an hourly timeframe, as Balancer has now gone up 4 of the past 5 hours.
  • From a hourly perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 hour timeframes.
  • The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Balancer’s hourly price chart is shown below.

BAL

The Daily View for Balancer

  • At the moment, BAL’s price is up $1.36 (5.12%) from the day prior.
  • This is a reversal of the price action on the previous day, in which price moved down.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 50 day timeframe.
  • Regarding moving averages, it should first be noted that price has crossed the 20 day moving average, resulting in them with price now being above it. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Below is a daily price chart of Balancer.

BAL

Featured NA Idea From TradingView

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1 – Dow – Bear2 – Candlesticks – Bear (Inverted Hammer @ Top @ 4 HR Candle)3 – S&R – NA (Range Bound)4 – Trend – Bear (Bull trend line broken)5 – Divergence – NA6 – Seasonal Analysis – Not Performed7 – Chart Pattern – Bear (Double Top)8 – Fib – NABulls Vs Bear 0 – 4 Trading PlanRisk Level – 5%Stop Loss – 87.448Entry – 87.077Take Profit 1 – 86.685

Rabeekhatlani