Sam Cooling
A week after the official launch of $BLUR NFT airdrop token redemptions, explosive post-launch volatility is calming as first signs of a trading channel appear.
The initial slow launch of the delayed Blur NFT marketplace took off with a bang last week, as investors rushed to redeem their much-anticipated $BLUR tokens.
Currently situated in the top 10 NFT exchanges by volume, BLUR NFT marketplace posted a jaw-dropping $430m in monthly trading volume.
With redemptions egged on by Coinbase teasing a future $BLUR listing, the first few days of trading saw huge volatile swings.
Coinbase will add support for Blur (BLUR) on the Ethereum network (ERC-20 token). Do not send this asset over other networks or your funds may be lost. Inbound transfers for this asset are available on @Coinbase & @CoinbaseExch in the regions where trading is supported.
— Coinbase Assets (@CoinbaseAssets) February 13, 2023
Despite launching at $5 – the first 48 hours saw price surge up to $8.35 and plummet down to $0.48.
This is not uncommon for coin launches, which are commonly characterised by initial volatility as whales accumulate and early backers take profit.
Indeed, the LooksRare $LOOKS token airdrop saw an initial doubling to $5.80, before slowly bleeding out to today’s lows of $0.22.
Bullish news has assured $BLUR investors today following the announcement that there will be additional tokens dropped to loyal holders.
$BLUR Price Analysis – February 22
However, with volatility finally calming – $BLUR is finally establishing solid chart structure and escaping the fate of $LOOKS.
With $BLUR firmly in price exploration, the first signs of a trading channel are appearing.
$BLUR is currently trading at $0.94 (a 24 hour change of -10.61%).
This is a local retracement movement that has come down to test support off the lower channel trend.
A key support zone is emerging around $1.00 – with price action from February 15 to 18 establishing legs here.
Blur bulls are currently fighting to bounce off this support zone, and hourly volatility is high – as Bollinger bands refuse to narrow.
This retracement movement is reflected by the RSI 14 – which is sat at 34.69.
A clear oversold signal – indicating bullish divergence.
Looking at the MACD for further illumination. Sat at -0.0023 – slight bearish divergence.
This reflects the high sell pressure signalled on the RSI, suggesting there is a huge wall of sell pressure to break through if $BLUR bounces.
This gives us a upside target of $1.65 (+75.33%) if the trading channel holds and continues the current trend.
However, downside risk could see a drop to levels from February 14 at $0.60 (-36.25%).
Overall then, this produces an ongoing $BLUR Risk: Reward ratio of 2.08.
This is an attractive entry, and could be a tactical trade for those looking to snipe quick gains.
But with volatility still extremely precarious in the aftermath of the token launch, no one wants to be the last token holder standing.
Here’s one alternative project that could offer a far less worrying risk profile than $BLUR, while still offering explosive 10x potential.
Fight Out (FGHT)
Move-2-Earn made waves last year with projects such as STEPN setting out to monetize simple activities such as walking. But interest collapsed as STEPN’s unsustainable economics became apparent.
Fight Out plans to change that and reignite interest in the Move-2-Earn space. To tackle this challenge, Fight Out is shaking up the world of the possible by delivering a complete monitoring system that can record any exercise from your time in the weight room to your hours down the Dojo.
With more than $4.4 million raised in a presale launched toward the end of Q4 2022. Fight Out hopes to remove the barriers to entry that come in the form of Web3 knowledge and expensive starter NFTs associated with platforms like STEPN.
The main approach is to open the web3 industry so that everyone can benefit while living a healthy lifestyle.
The Fight Out app acts as a fitness-hub platform that enables the user to track, plan, and fine-tune their routines, sleep, and diet – within the bounds of a monetized in-app economy.
This will see users who join this new ecosystem accessing live coaching, training classes, PVP stat battles and a chain of physical gyms spread around the world.
$4.4M RAISED
Things are heating up #FightOutCrew!
Remember, you can now become a #FightOut affiliate and earn $$$ for spreading the word!
Join the presale today and claim your 50% bonus! https://t.co/ZJslyfHI4t#Crypto #Presale #Metaverse #Affiliate pic.twitter.com/IEFXtBLni8
— Fight Out (@FightOut_) February 20, 2023
The Fight Out team recently announced the launch of a lucrative referral promo link program. This gives users the ability to receive a 5% commission for signing up their friends!
All users need to do is go to the Fight Out homepage, connect a valid crypto wallet, and then click on the 5% referral link button.
At this point, a unique referral link will be generated to earn you commission! Share the link with friends and family or post it to your social media.
This means every time someone buys the $FGHT token – you receive 5% of the purchase amount!
What’s more – this presale superstar is giving away $250k! Enter here.
Fight Out rewards all types of exercise – and really pays with the native $FGHT token empowering an entire marketplace of physical and digital rewards. With presale token prices increasing every 12 hours – don’t miss out on the future of M2E!
Read More From Business 2 Community!
Hong Kong to Open up Retail Crypto Trading in Bid to Become Major Global Crypto Hub
EU to Speed Up Implementation of Basel Capital Adequacy Rules for Banks Holding Crypto
Fight Out - Next Big Train-to-Earn Crypto
- Backed by LBank Labs, Transak
- Earn Rewards for Working Out
- Level Up and Compete in the Metaverse
- Presale Live Now - $5M Raised
- Real-World Community, Gym Chain
This article was written for Business 2 Community by Sam Cooling.
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