I have always used 1 lightning spell and the rest rage. Some pesky cc troops can ruin a raid so the lightning is crucial (im ballooning in champ, trust me)
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I don't think you can go much higher with your balloons lvl5. You should change your strategy around Crystal 2 if not before. As for the spells for ballonion i would recommend rage and heal, how many? It's up to you. At least one heal cuz Balloons lvl5 are quickly killed due to their low health. But if you're focusing on getting the 50% and not the two stars take full rage.
1 lightning for cc and rest rage
I always took 1 lightning and 2 heal spells. It keeps the loons up longer so they can get farther into the base. Got to crystal 1 with them.
2 Rage + 1 Heal. Use Heal in case minions were targeted by wizard tower out of the balloons' reach.
You need heals so that your balloons can live through wizard towers / air defs / air bombs. I use 4 heals (3 if TH8).
Rage is useless, your raid can get super screwed by air bombs if you only have rages and the bombs are placed in clusters, not to mention rages are much more expensive and take longer to make than heals! There's absolutely no advantage to using rage. The balloons are also fast enough to take out all the defenses in the attack time granted with heal spells if you have 28+ balloons.
I always get 3 stars.
PS. Sometimes the heals are useful for the minions too if the balloons die early for some reason (for example, you missed with a heal spell on them) and wizard towers are punishing the minions.
TL;DR: Forget the rage spell for Balloonion, it's expensive and has no advantage to heal spells. Bring all heal spells.
Jump spells. :rolleyes: