Apart from technical analysis, it is important to track current events in the cryptocurrency market. The following analysis comes from the TradingView platform and is based on 26 indicators, the numbers in the widget represent how many of the used indicators recommend buying (BUY), selling (SELL) or doing nothing (NEUTRAL).
Therefore, it is not a tool that would give you price for each month in the years 2022 and 2023. We are working hard to develop such a price prediction system, so we recommend you add this page to bookmarks and check it from time to time.
The actual analysis relies on combining more indicators, which could theoretically make the prediction of the future price more accurate than using just one indicator. Unfortunately, we don’t know which indicators are used in the technical analysis above since it is an external plugin that does not provide this information.
Even though we consider the widget to be a useful tool for a rough estimation of the future price of the digital currency Balancer, we advise against trading based on information gained from it. Mainly because cryptocurrencies are often heavily influenced by market events that cannot be predicted by technical analysis.