COINBASE:BALUSD   Balancer / United States Dollar
Balancer appears to be finishing its correction and is due for an explosive breakout within the next 120 days.

Balancer has been forming a long-term support line since July 2020, which has been tested and confirmed seven different times. Over the past week, Balancer has successfully retested the long-term support line and is now forming a descending triangle formation with a contracting range. Although the Relative Strength Index ( RSI ) is still low at 40 , RSI has been rising over the past week. Further, the Awesome Oscillator has begun to show green candles which indicate a reversal trend in the near future.

Balancer has recently confirmed partnerships with Fei DAO and Beethoven-X to further integrate its Balancer V2 Liquidity Pools onto other networks, and we should expect a large inflow of capital into its liquidity pools in the near future.

Within the next 120 days, I expect Balancer to approach the 1.618 Trend Fib Extension at $126.00. Once Balancer reaches this target price, I will make another post to update my price prediction.

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