BLESS stunned the crypto market yesterday with an extraordinary 600% price surge, soaring from obscurity to a new all-time high of $0.233. Although prices have cooled slightly today, the token continues to trade well above its pre-breakout levels, maintaining strong bullish momentum.
The rally took many by surprise, as it arrived without any clear fundamental catalyst. No major partnership announcements, listings, or project updates accompanied the move, leading analysts to question whether the surge was organic or purely speculative.
Still, price action alone has kept market watchers glued to their screens. Technical indicators such as the Relative Strength Index (RSI) and Moving Average Convergence/Divergence (MACD) both continue to rise, showing no immediate signs of bearish divergence. This suggests that buying pressure remains strong and that the rally could still have more room to run.
The Breakout That Changed Everything
Since launching on 24 September, BLESS had been trading under a steady descending resistance trend line that held for 22 days. Yesterday, that trend line finally gave way and what followed was nothing short of explosive.
Once the breakout occurred, a massive 650% intraday rally catapulted BLESS to a record high, cementing it as one of the top-performing tokens of the day. Technical traders pointed to the clean breakout structure and rapid acceleration as a textbook example of what happens when prolonged resistance is finally breached with volume.
One of the few who anticipated the surge was trader Julius Elum, who recently predicted that both BLESS and HANA would experience sharp upward moves. While HANA has yet to follow through, Elum’s call on BLESS proved remarkably accurate as the token shot up to its new peak in just a matter of hours.
Why BLESS Might Still Have Room to Run
Despite speculation that the rally was momentum-driven, the broader technical picture suggests BLESS could still be in the middle of its upward cycle. According to the Elliott Wave count, the token is currently in wave three of a five-wave pattern, historically the sharpest and most impulsive phase of a bullish structure.
Analysts note that wave five has already extended 2.61 times the length of wave one, often a sign that the current phase may be reaching its top. If the pattern holds, BLESS could undergo a short-term correction before resuming its climb.
Key Fibonacci retracement levels at $0.129–$0.154 are expected to provide support during this pullback. From there, the next and possibly final leg, higher wave five, could propel BLESS to new highs, with a target near $0.336, based on the 3.61 Fibonacci extension of the previous decline.
Correction Before Continuation
After such an explosive move, some cooling off is natural. BLESS has already started to retrace slightly from its highs, suggesting a brief consolidation or correction phase may be underway. Traders will be watching closely to see whether prices hold above the key retracement zone around $0.13–$0.15.
If buyers defend this region successfully, a fresh wave of bullish momentum could send BLESS beyond its previous peak. However, if selling pressure intensifies, the pullback could deepen, potentially signalling that the rally was more speculative than structural.
Regardless of the short-term fluctuations, BLESS’s recent performance has placed it firmly on the radar of retail traders and technical analysts alike. Whether the token’s meteoric rise was sparked by genuine accumulation or hype-driven speculation remains to be seen, but one thing is certain: BLESS has captured the market’s attention.
The Road Ahead
As of now, BLESS continues to trade far above its early October levels, with strong interest and high volatility defining its price action. The coming days will be critical in determining whether the token can sustain its momentum or if the recent breakout fades as quickly as it arrived.
For now, traders are watching the charts, eyeing the next Fibonacci target of $0.336 as the potential peak of this current wave. Should the bulls hold firm, BLESS could very well extend its rally, cementing its place as one of the most remarkable crypto breakouts of the month.
