BAL’s Price May Be in A Downtrend, but RSI Suggests Caution

The Hourly View for Balancer

  • At the moment, BAL’s price is up $0.02 (0.43%) from the hour prior.
  • This is a reversal of the price action on the previous hour, in which price moved down.
  • Regarding the trend, note that the strongest trend exists on the 100 hour timeframe.
  • Of note is that the 200 hour changed directions on BAL; it is now pointing up. 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.


The Daily View for Balancer

  • At the time of this writing, BAL’s price is up $0.25 (5.63%) from the day prior.
  • Balancer has seen its price go up 4 out of the past 5 days, thus creating some compelling opportunities for bulls.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 50 day timeframe.
  • The moving averages on the daily timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
  • Divergence alert: Trend in BAL’s price and its RSI are diverging. BAL’s price is declining slower than its RSI.

Below is a daily price chart of Balancer.


Featured Balancer Commentary From Twitter

@PauloMacro Was just having this convo with @hkuppy this morning. Been brewing in back of my mind for some weeks now.
EM gonna have bal of pmts crisis, FED raising, creating arbitrage on yield, BOJ not moving in sync but holding to 0%. It’s all setting up..NA