Upbit Effect Explodes... Fluent (BLEND) Surges 120% in One Day

▲ Blend (BLEND)/Source: Upbit Korea X

Expectations ahead of listing on domestic exchanges exploded—Fluent surged over 120% in just one day, showing a typical 'pre-listing surge' pattern.

According to CoinMarketCap, a cryptocurrency market data aggregator, on April 29 (local time), Fluent (BLEND) surged 123.51% in 24 hours, climbing to $0.204. Amid a stagnant overall market, its solo surge has drawn significant investor attention.

The key driver behind this surge is the anticipation of its listing on major domestic exchanges. With listings on Upbit and Bithumb scheduled for the same day, buying pressure is believed to have poured in, preemptively reflecting new liquidity and investor influx. This is a classic 'pre-listing rally,' where prices move ahead of a listing event.

Adding to this, further positive news emerged. On April 28, the project team purchased 722,543 BLEND tokens at an average price of $0.0902, boosting market confidence. Its previous listings on Coinbase and Kraken also served as factors supporting investor sentiment.

However, signs of short-term overheating are also detected. The 1-hour Relative Strength Index (RSI) is in the late 80s, indicating an overbought condition, meaning profit-taking sales after listing cannot be ruled out. Especially if a 'sell the news' trend emerges immediately after listing, increased volatility is inevitable.

The key going forward is whether it can maintain support at $0.20. If it holds this price level, there's a possibility of testing the $0.25 resistance. However, if it breaks down, a rapid retracement to the $0.15 range could occur. In the short term, it is considered to have entered a high-risk zone where increased liquidity and selling pressure collide.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*