Should I buy Balancer (BAL) in December 2021?

Balancer BAL/USD has weakened from $29 below $19 since November 04, and the current price stands at $21.

The cryptocurrency market is advancing this Monday, Bitcoin went above $58000, but according to rules of technical analysis, Balancer (BAL) remains in a bear market.

Automated portfolio manager

Balancer is an automated portfolio manager and trading platform that allows you to rebalance your portfolio.

Index funds and other types of investment portfolios charge investors high fees for managing their funds, but with Balancer, you don’t need to pay high fees.

Balancer turns the concept of an index fund on its head and enables you to earn a fee from traders who rebalance your portfolio by following arbitrage opportunities.

In order to find the best available price for traders, Balancer uses Smart Order Router and enables efficient trading by pooling crowdsourced liquidity from investor portfolios.

Users can trade thousands of token pairs instantly at optimal rates with Balancer, exchange any combination of ERC-20 tokens and have the maximum control of their funds.

It is also important to say that every user is protected from Miner Extractable Value (MEV) which otherwise can cause higher gas fees and excess price slippage for DEX traders.

The Balancer Protocol is a core building block of DeFi infrastructure, many projects already collaborate with Balancer, and the most popular ones include Aave, TokenEngineering Academy, Radicle, Mask, among others. Chris Burniske, a partner at Placeholder VC, added:

The most informed see the writing on the wall for how integral Balancer is becoming to DeFi liquidity. It is beloved by builders for allowing them to build a vast array of liquidity pools to solve pressing problems.

Balancer tokens have the symbol BAL and to interact with this platform, you should use BAL tokens. BAL token has achieved an impressive gain in the first several months of 2021, and it has reached a record high above $75 on May 03.

BAL is currently down more than 70% from its peak, and the risk of further decline still persists.

Bears in control of BAL Data source: tradingview.com

Balancer (BAL) remains in a bear market, and if the price falls once again below $20 support, the next price target could be around $18 or even below.

The strong resistance level stands at $30, and if the price jumps above this level, it would be a “buy” signal, and we have the open way to the $35.

Summary

Balancer allows you to rebalance your portfolio and trading with thousands of token pairs instantly at optimal rates. The cryptocurrency market is advancing this Monday, but according to rules of technical analysis, Balancer (BAL) remains in a bear market.

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