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▲ Blend (BLEND)/Source: Upbit Korea X
Expectations for an upcoming listing on a domestic exchange have exploded—Fluent has surged over 120% in just one day, showing a typical 'pre-listing surge' trend.
According to CoinMarketCap, a cryptocurrency market aggregation site, Fluent (BLEND) surged 123.51% in 24 hours to reach $0.204 on April 29 (local time). Investor interest is focused on Fluent as it shows a solitary surge while the overall market remains stagnant.
The key background for this surge is the expectation of listing on major domestic exchanges. With Upbit and Bithumb listings scheduled for the same day, buying pressure reflecting new liquidity and investor inflows is believed to have converged. This is a typical 'pre-listing rally,' where the price moves in advance of a listing event.
Additionally, further positive news coincided. The project team purchased 722,543 BLEND tokens at an average price of $0.0902 on April 28, boosting market confidence. Its previous listing history 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 high 80s, indicating an overbought condition, and the possibility of profit-taking selling pressure after listing cannot be ruled out. Particularly, if a 'sell the news' trend emerges immediately after listing, increased volatility is inevitable.
Moving forward, the key is whether it can maintain the $0.20 support level. If it holds this price, there is a possibility of testing the $0.25 resistance level, but if it breaks down, a rapid retracement to the $0.15 range could occur. In the short term, it is assessed 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.*
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