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Will Balancer hit $ 20 in January?

 


Balancer (BAL / USD) traded more than 3% higher on Saturday as it continued the rally and resumed the strong upward move it has recently entered. Balancer is an Ethereum token that powers the Balancer Protocol, an automated market maker that enables anyone to create or add liquidity to trading pools while earning customizable trading fees. Balancer has been under investor radar since the trend reversal in early December. The uptrend shows great potential for the coming months and investors are expecting a huge upswing due to a huge fall in November that saw Balancer fall over 50%.

Balancer plunged from $ 28 to below $ 13 in one month, causing many investors to get out of Balancer as it looked very weak. At the beginning of December, however, there was a sharp turnaround and Balancer has been in a strong upward trend since then. If this surge continues, huge returns could be achieved in the months ahead. Hence, many investors are looking for opportunities to get started with balancers. Balancer could be trading above the $ 20 mark again, and the $ 30 mark could also be hit in no time with the momentum with which Balancer is currently recovering. So should you buy Balancers in hopes of the rally continuing in the coming weeks?

  • Balancer is trading in a strong upward channel and is recovering with great potential.

  • Balancer has moved closer to strong resistance at $ 18.6. Breaking this zone will show tremendous buying power. Therefore, investors can get in as soon as Balancer breaks the resistance.

  • Balancer could break out of the channel soon and be heading for the $ 30 mark.

  • Investors can set a target of $ 23 followed by $ 29.

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