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BAL / TetherUS

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BALUSDT trade ideas

BAL Possible Parabolic ContinuationBINANCE:BALUSDT has been on a good trend up this year, going from the low-teens at start of January to nearing $60 start of April. The chart looks prime to continue its ascend. It has a nice rounded base and all re-testing has respected the parabola. Considering the type of project, it is not far-fetched to imagine BAL going on a true parabolic advance similar (percentage-wise) to other AMM-based projects. Market-permitting, I see this going a few multiples higher.
Long
by cmerged
BAL-USDT(Descending Triangle breakout) Balancer is among the top 10 DeFi assets in terms of TVL on its protocol. Currently, $1.5 Bn is locked on its protocol. After hitting its All-Time High on Feb 12, it retraced back and was continuously taking support from the 20 DEMA. On March 6, it appreciated by ~17% and is currently indicating a continuation of the bullish trend. On 1 Hr Time Frame, It has given a Breakout from the trendline. The 20 Hourly EMA and the trendline support has given support to the Doji candlestick as indicated on the chart which depicts a Retest after the Breakout. Key Levels to watch out:- The supports to the lower side are present at $42 followed by $40 . The resistance to the higher side is present close to the All-Time High Level of $52 . If it manages to close above ATH, a further move to the levels of 1.272 Fib level placed at $63 can be expected.
Long
by TradeDog-Research