The Blur token (BLUR) has demonstrated a strong upward trend in recent weeks, increasing by 110% since January 8th. The one-day chart shows a continuation of the bullish market structure, and technical indicators suggest buyer dominance. After moving from the support level to $0.55 in mid-January and retesting in the first week of February, there was an explosive rally. The question is whether the rally can reach the $1 mark.

BLUR successfully overcame key resistance levels, breaking the downward trend observed from May to October 2023, when the price dropped from $0.7 to $0.15. The recent growth was accompanied by an increase in OBV and a bullish RSI momentum. Breaking through the 23.6% extension level suggests that the next targets could be the 61.8% and 100% levels at $0.93 and $1.07, respectively.

Short-term charts show increasing demand for the token. AMBCrypto's analysis of futures and spot market data revealed a rapid increase in open interest from $120 to $160 million over the last week, coinciding with the price rise of BLUR from $0.7 to $0.81. The funding rate also favors long positions, indicating growing demand in the spot market and potentially contributing to further price increases to $1 and beyond.