Bluzelle (BLZ) Price Prediction 2023-2030: Will BLZ Price Hit $0.5 Soon?

Bits Logics Team . 19th Sep 2023
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  • Bullish Bluzelle (BLZ) price prediction ranges from $0.2 to $0.5
  • Analysis suggests that the BLZ price might reach above $0.4.
  • The BLZ bearish market price prediction for 2023 is $0.05.

Bluzelle (BLZ) Price Prediction 2023-2030 Overview

YearMinimum PriceAverage PriceMaximum Price
2023$0.1$0.4$0.5
2024$0.4$0.61$0.8
2025$0.9$1.20$1.8
2026$0.6$0.87$1.2
2027$0.75$1.05$1.75
2028$0.95$1.35$1.9
2029$1.25$1.95$2.5
2030$0.5$1.7$2.8
2040$2.8$4$7.5
2050$4.5$6.1$10

What is Bluzelle (BLZ)?

Bluzelle is a decentralized storage network for the creator economy. Bluzelle delivers high security, and unmatched availability, and is censorship-resistant. Whether you are an artist, musician, scientist, publisher, or developer, Bluzelle protects the intellectual property of all creators. Bluzelle is data storage, file storage, oracles, and more. It is specific for NFTs and DeFi.

Bluzelle’s core products are all related to data and powered by its Tendermint Blockchain:

Bluzelle DB – a decentralized database for software developers to store information

Bluzelle Oracles – a decentralized pricing oracle that provides high speed and high security for Defi applications

Bluzelle Staking – where BLZ holders can currently stake their tokens and earn rewards for providing storage and pricing data.

Pavel Bains and Neeraj Murarka founded Bluzelle to address the fragmented data link in the blockchain and DeFi space. Both Pavel and Neeraj hold extensive technological experience with a demonstrated history of working with major global players.

Bluzelle (BLZ) Market Overview

Bluzelle (BLZ) Current Market Status

The maximum supply of Bluzelle (BLZ) is Unknown, while its circulating supply is 413,903,757 BLZ, according to CoinMarketCap. At the time of writing, Bluzelle is trading at $0.2 representing 24 hours increase of 26.71%. The trading volume of Bluzelle in the past 24 hours is $73,610,933 which represents a 211.6 % increase.

Some top cryptocurrency exchanges for trading Bluzelle are Binance, Huobi Global, CoinTiger, BiONE, and HitBTC.

Now that you know Bluzelle and its current market status, we shall discuss the price analysis of  Bluzelle (BLZ) for 2023.

Bluzelle (BLZ) Technical Analysis 2023

BLZ/USDT 1-Day Chart (Source: Tradingview) 

Looking at the chart above, we can see that BLZ is currently on an uptrend. It has been making higher lows and higher highs since mid-week of August 2023. The token has been fluctuating in the upper section of the Bollinger band. Furthermore, it has been testing the upper band in the recent past just as it is hugging it at present. 

Interestingly, when looking at the Accumulation/Distribution line (ADL) it can be seen that the ADL reads a value of -4.57B and the line is rising up. Additionally, since the ADL is making lower lows while BLZ is making higher lows, this could be termed a bearish divergence. 

When comparing ADL with the Balance of Power indicator line, we could see that when ADL is moving up the Balance of Power line is moving downwards. The Balance of Power reads a value of 0.31 and is heading downward. This shows that the market is dominated by the sellers.  

Bluzelle (BLZ) Price Prediction 2023

BLZ/USDT 1-Day Chart (Source: Tradingview) 

When looking at the chart above, we can see that BLZ has had a sudden uptrend. As such, the token was residing inside a bearish flag. As BLZ has touched the upper trendline of the flag, there is a high chance that BLZ could return back to the lower trendline. Moreover, this behavior of ricocheting off of both trendlines may continue for some time before BLZ breaks out of the flag. In the event that BLZ breaks out of the flag conventionally, then, BLZ could reach $0.05 if the supports at $0.12 and $0.075 give out. Moreover, there is also more trading activity towards the downside of this bear flag. 

However, if BLZ breaks out from the flag and starts to increase in value then there is a high chance that BLZ could reach $0.4. Nonetheless, BLZ will face some friction at $0.30 and $0.23 resistance levels. Furthermore, the higher BLZ goes, the harder it will be for the prices to further increase due to the reduction in trading volume.    

Disclaimer: 

The information and analysis are intended for informational purposes only. All views and opinions expressed should not be considered as financial, investment, or trading advice. Readers are strongly encouraged to conduct their own research before making any investment decisions. Any actions taken based on the information presented by Bits Logics are at the reader’s own risk. The author or any affiliated parties shall not be held liable for any direct or indirect damages or losses resulting from such actions.