BALANCER REPORT

Balancer, launched on the Ethereum blockchain in March 2020, is an automated market maker (AMM) that secured a $3 million seed round from Placeholder and Accomplice. It operates as a self-balancing weighted portfolio, price sensor, and liquidity provider. Users can now earn profits by contributing to customizable liquidity pools with the introduction of its token (BAL).

BAL token is ranked #107 with a market capitalization of nearly $367million. The current market price of the token is $7.51 USDT

The BAL/USDT chart has formed a distinctive triangle pattern on the weekly timeframe. The trend has been making higher lows since the beginning of June’22 and is on the verge of pattern breakout. The RSI has also been at its highest since the mid of 2021. We could expect the trend to breakout and the positive momentum to continue throughout the coming days.

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