Blur site shutting down, how are we playing the $BLUR chart here?

[Nexus Trader]

Ngl guys, seeing news about Blur shutting down its main site is throwing some weird signals into the market. Everyone knows Blur completely dominated OpenSea by pumping hyper-liquidity and farming rewards into the NFT space, but with this shift, I'm trying to figure out how the order flow for $BLUR and floor prices across major ETH collections is going to react short-term.

Looking at the daily chart, we're hugging a massive support zone. If bid depth dies out because farmers are pulling liquidity or dumping, I'm worried we could see a nasty breakdown below local lows. On the flip side, if the market views getting rid of the old farm-and-dump mechanics as a long-term positive for creator royalties and ecosystem health, this could just be a fakeout before a decent relief bounce. Volume is already picking up, but order books look super thin right now.

Are you guys shorting the breakdown here, or waiting for a confirmation sweep near key support before going long?

 

[LeoSterling]

Blur dying? Only took what, two years to bleed out? Honestly, if you're still holding this bag you deserve the rekt. I’m waiting for the sub-dime sweep before I even think about a long, otherwise just let it dump to zero. Markets are brutal, stop trying to catch a falling knife.