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Blur Price Prediction 2024: BLUR Price Analysis

Last Updated June 26, 2024 2:54 PM
Valdrin Tahiri
Last Updated June 26, 2024 2:54 PM
By Valdrin Tahiri
Verified by Peter Henn

Key Takeaways

  • BLUR has trended downward since its launch on February 14, 2023.
  • The BLUR price has fallen over 50% in 2024 alone.
  • Our BLUR price predictions suggest the price is in a long-term downtrend.

The BLUR token fell to an all-time low in October 2023 but has since recovered. While the price increased over fivefold until February 2024, it has fallen since and is approaching its all-time low once again. On June 26, 2024, Blur was worth $0.22.

Blur did not immediately respond to a request for comment.

But what is Blur (BLUR) ? How does Blur work? Let’s examine some of the BLUR predictions made by CCN.com on June 26, 2024. It is crucial to bear in mind that price forecasts, particularly for volatile assets like cryptocurrencies, often turn out to be inaccurate

Blur Price Prediction

There are two methods used to create our BLUR price predictions. More specifically predictions are created using fractals (mirroring movements and indicator readings) and the wave count.

The mean of the two predictions gives the average BLUR price prediction, the more bullish one is used for the maximum price prediction while the more bearish one for the minimum.

Minimum BLUR Price Prediction Average BLUR Price Prediction Maximum BLUR Price Prediction
2024 $0.43 $0.555 $0.78
2025 $0.12 $0.20 $0.28
2030 $0.0172 $0.018 $0.0198

Fractal Method

The daily RSI for BLUR fell into oversold territory for the first time in June 2023. Then, both the BLUR price and its RSI made lower lows near the 1.81 external Fibonacci retracement (black).

This was followed by a significant upward movement that took the price above its June highs. The upward movement was confirmed with a breakout from a 240-day descending resistance trend line and reached the 0.618 Fibonacci retracement resistance level (white).

BLUR Fractal
BLUR/USDT Daily Chart | Credit: Valdrin Tahiri/TradingView

A similar movement has transpired in 2024 In April, the RSI fell to oversold territory, and after a bounce, it has started to fall again. The price has already created a lower low but the RSI has not done so yet. Nevertheless, it is in oversold territory.

If the same pattern is followed, BLUR will continue falling to $0.125, before a breakout from the resistance trend line starts an upward movement. If the resistance trend lines have the same length, the price will break out in October.

BLUR Future Prediction
BLUR Daily Chart | Credit: Valdrin Tahiri/TradingView

Then, projecting similar patterns of growth and decline leads to price of $0.43 and $0.12 at the end of 2024 and 2025, respectively.

Wave Count Method

Unlike the fractal method, the wave count implies the BLUR trend is bullish, at least in the short-term. According to the count, BLUR has completed a five-wave increase and is nearing the completion of its A-B-C corrective structure, projected to end in July.

Afterward, an upward movement of similar length and increase can take the price to a high of $0.87 in January 2025. It gives a high of $0.78 at the end of 2024.

Then, a similar correction is projected, lasting until June 2025. The movement after this is unclear because of the possibility of the movement being both corrective and impulsive.

Therefore, we will use the rate of increase from August 2023 to the projected price on May 2025, which is a 0.9% daily increase. Projecting this increase until the end of the year leads to a price of $0.28 at the end of 2025.

BLUR Wave Count Prediction
BLUR/USDT Daily Chat | Credit: Valdrin Tahiri/TradingView

Finally, we use the rate of decrease since launch to make a prediction for the end of 2030. BLUR has decreased by 63.5% since its launch, for a rate of decrease of 0.25% per day.

Projecting this same rate of decrease until the end of 2030 leads to a new all-time low of $0.018. Adding and removing 20% to this target leads to maximum and minimum predictions of $0.0198 and $0.0162, respectively.

Blur Price Prediction for 2024

The fractal and wave count predictions give relatively similar targets for the end of 2024. More specifically, the fractal method gives a target of $0.43, while the wave count one of $0.78.

The main reason for this discrepancy is that the fractal method implies BLUR will still increase in the first portion of 2025, while the wave count suggests the price will reach a high in January 2025.

Blur Price Prediction for 2025

Both the fractal and wave count methods predict the BLUR price will be mired in a downward trend in 2025. The fractal method predicts a new all-time low of $0.12, while the wave count suggests the price will trade near $0.28.

Blur Price Prediction for 2030

The BLUR price prediction for the end of 2030 uses the current rate of decrease. A price between $0.0172 and $0.0198 is likely if a similar rate of decrease continues for the foreseeable future.

BLUR Price Analysis

The daily time frame BLUR price chart shows a decline inside a descending parallel channel since February 24. More recently, the price bounced at the channel’s support trend line and the $0.235 horizontal area on June 24, creating a bullish candlestick.

It is likely the decrease is an A-B-C corrective structure, which could be nearing its end.

BLUR Price Movement
BLUR/USDT Daily Chart | Credit: TradingView

The daily RSI and MACD have both generated bullish divergences, supporting this potential scenario. So, it is possible BLUR will increase toward the channel’s resistance line and eventually break out. In that case, it can increase toward the yearly highs at $0.83.

Despite this bullish BLUR price prediction, breaking down from the channel and $0.235 area could sharpen the downward movement toward the $0.15 lows.

BLUR Price History

The BLUR price launched in February 2023 with a price of $5.03. It fell significantly immediately afterward and has been mired in a downward trend since. While the token was listed on Binance in November 2023, this failed to initiate any sort of an upward movement. The BLUR price trades 96% below its all-time high. It has fallen over 55% in 2024.

BLUR Price Movement
BLUR Price History | Credit: CoinGecko
Period BLUR Price
Today (June 26, 2024) $0.24
Last week (June 19, 2024) $0.26
Last Month (May 26, 2024) $0.45
Three Months Ago (March 26, 2024) $0.60
Last Year (June 26, 2023) $0.33
Launch Price (February 14, 2023) $5.02
All-Time High (February 14, 2023) $5.02
All-Time Low (October 12, 2023) $0.153

BLUR Performance Comparison

BLUR is part of the NFT marketplace category. So, let’s compare it to tokens of the same category to measure its performance relative to theirs.

Current Price One Year Ago Price Change
BLUR $0.23 $0.37 -31%
TNSR $0.61 $1.86 (April 2024) -67%
LOOKS $0.067 $0.054 -15%

Who Owns the Most BLUR Tokens?

As of June 26, 2024, the five wallets with the most BLUR tokens were: 

  • 0x581e27c21ce60a946f0e866436a025bc89f3fb26. This wallet held 870,000,000 BLUR, or 29.00% of the supply.
  • 0x3f1be79ab382f21c284008df07e3d169867db647. This wallet held 726,704,582 BLUR, or 24.22% of the supply.
  • 0xec2432a227440139ddf1044c3fea7ae03203933e. This wallet held 458,369,478 BLUR, or 15.28% of the supply.
  • 0x04b5540fe7c014d7de022c0406a9633155aeed1c. This wallet held 246,852,883 BLUR, or 8.23% of the supply.
  • 0xcc9e531714b04d26c454091471c5210e29343d79. This wallet held 122,377,786 BLUR, or 4.08% of the supply.

BLUR Supply and Distribution

Supply and Distribution Figures
Total supply 3,000,000,000
Circulating supply as of June 26, 2024 1,698,877,353 (57% of the circulating supply)
Holder distribution as of June 26, 2024 Top 10 holders owned 29.77% of the total supply

 

From the Whitepaper

According to its whitepaper , BLUR is an ERC-20 token governing the Blur marketplace and Blend lending protocols, with decisions made through a structured DAO governance process involving community proposals and votes. It controls protocol parameters for value accrual, distribution, and various on-chain functions, with committees ensuring the proper implementation and management of these activities.

Blur (BLUR) Explained

Blur  is a platform that allows traders to get involved in the world of non-fungible tokens (NFTs). While these rights to links to individual pieces of digital art are not as fashionable as they were in late 2021 and early 2022, there is still a market for them. 

A group of pseudonymous developers, including two named Pacman and Zeneca, founded Blur in 2023. 

The BLUR token supports the Blur platform, which is based on the Ethereum (ETH) blockchain. 

How Blur Works

Blur allows people to profit from NFT trades and also helps reward NFT creators. 

BLUR supports the network. The token’s holders can vote on changes to the network. BLUR also rewards the people who create NFTs. People can also buy, sell, and trade BLUR on exchanges. 

Because BLUR is based on Ethereum, it is a token, not a coin. You might see references to such things as a BLUR coin price prediction, but these are wrong. 

Is Blur a Good Investment?

BLUR has not performed well at all since its launch. With an over 95% decline since its all-time high, BLUR is clearly still in a long-term downtrend. Our long-term price predictions align with this possibility.

Will Blur go up or down?

The BLUR price currently trades at an area very likely to initiate a bounce. However, the long-term trend could still be bearish. Whether the price breaks out or down from the channel will go a long way in determining the future trend’s direction.

Should I invest in Blur?

Before you decide whether or not to invest in Blur, you will have to do your own research and also need to make sure that you never invest more money than you can afford to lose.

Blur Attention Tracker

BLUR Search Volume
BLUR Google Search Volume | Credit: Google Trends

Here is a chart for the Blur crypto Google search volume for the past 90 days. This represents how many times the term “Blur crypto” has been Googled over the previous 90 days. 

FAQs 

How Many Blur Are There?

As of June 26, 2024, there were 1.69 billion BLUR in circulation out of a total supply of 3 billion.

Will Blur Reach $10?

Our price predictions suggest that BLUR is in a long-term downtrend and will not reach $10 in the foreseeable future.

What is Blur Used For?

BLUR holders can vote on changes to the Blur network. People can also buy, sell, and trade it on exchanges.

Disclaimer
Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.
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