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BAL/USD price action broke the $7,000 resistance level on August 31 and continued above it in early September. The next day indicates the beginning of a short period of market resistance from the sellers. This price was able to bring below the $7.000 resistance level on September 6. This brief price correction created a new support level at $6.74000 the next day (September 7).
Currently, the price level is $7.79000. A broad view of the chart, this market has a higher low and this is a current market signal. Buyers are stronger than buyers
Balanced Market Value Statistics:
- BAL / USD price now: $7.790000
- BAL/USD Market Rate: $ 337,923,408
- BAL / USD transfer offer: 43,720,225.94
- BAL / USD Total supply: 52,022,463
- BAL/USD Coin Market Rank: #99
Key steps
- Resistance: $ 8.000, $ 8.500, $ 9.000
- Support: $6.7400, $6.000, $5.5000
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Equilibrium Market Value Analysis: Indicators View
The RSI line rose to 66% in early September. We had a very bright candle that day. That candle went as far as testing the $8.0000 resistance price level. That also signaled the beginning of a short bear market. The RSI line has returned to the 61% strength level. In MACD, today’s green histogram shows bullish strength in the market, after six days of weak momentum.
Balance: BAL/USD 4-hour chart view
The first 4 hour session was opened by a Marbozu candle which is a sign of bulls dominating the market for the session. Although bears entered the market in the second and third periods, they did not have much impact on the market. The market still shows high momentum. The RSI and MACD in this time frame indicate that the market is recovering from the weak zone.
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