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The trading activity of BLUR has significantly increased in the past couple of days. The 30-minute trading volume surged by 133.8%, a magnitude that is hard not to notice.
Currently, the price is stuck at 0.03699, and from a technical perspective, the key support on the 1-hour chart is around 0.03708, only 1.36% away from the current position. Such a volume increase is usually not a false signal; it often indicates that large funds are actively testing the bottom.
From a trading standpoint, there is indeed an opportunity near the support level. If you want to participate, you can consider going long around 0.03708, with a target set at the resistance level above at 0.03994. The potential profit margin from support to resistance is approximately 7.7%.
The key factor remains this surge in volume, which often signals that the market is about to show some movement. The next step is to see whether BLUR can hold steady in this price range. Once it breaks through the upper resistance, there could be a more obvious upward rally. Continuously monitoring market changes will be quite important.