- Blast price surged over 25% this week with a nice bullish chart pattern.
- Technical analysis suggests the price could shift $0.0030.
- Maintaining $0.0022 support is critical for sustained rallies.
Blast has also seen notable bullish activity, with the price going up by over 12% over the last 24 hours and marking 25.23% growth over the last week. The current price is at $0.002438, as the token is supported by a decent 24-hour volume of $113.06 million and a market cap of $100.44 million.
The price movement over the last few hours is an indication of strong market demand and also gives the signal of the possibility of a sustained upsurge should the levels remain valid.
The 7-day candle chart displays an obvious breakout of an extended consolidation phase. In the initial phase, price action was horizontal around the $0.0020 area with low volume and compact candles indicating indecision.
Yet the strong spike in buying pressure generated numerous substantial green candlesticks and an upmove towards the high of about $0.0028.
Although higher-level profit-taking is registered in the upper wicks, the price action is still retaining the higher ground above the breakout area and could be temporarily consolidating before continuation.
Technical Signals Flash Green for $0.0030 Blast
The 4-hour technicals show bullish strength carrying over, with the price remaining above the higher Bollinger Band, indicating rising volatility and strong upside pressure.
The Bollinger Band midline around $0.00212 is now acting as near-term support, and the most recent test of resistance around $0.00250 is showing early reluctance. Despite the early hesitation, the overall structure still favors the buyers.
The RSI is at 71.35 and is showing overbought levels but also verifies strong buying pressure. The MACD also verifies the bullish outlook with the MACD line well above the signal line and an expanding bullish histogram.
If the bullish momentum stays and the price is still higher than short-term support, the target could be a move towards $0.0030. However, traders should monitor potential drops as the RSI dips back from overbought levels.
BLAST Outlook Depends on Key Price Zones
Price action in the subsequent sessions is likely to be driven by the strength of the $0.0022 support remaining in place.
Sharp dips through this barrier could induce blanket sell pressure or restrain further up moves. In the absence of bulls holding off the area, a back-test and breakthrough of $0.0025 could reinvigorate another up push.
With strong volume, bullish technicals, and persistent interest, Blast is still positioned for potential gains. However, traders need to be on high alert for short-term volatility and wait for levels of support before new positioning is taken.
Also Read: Ethereum L2 Solution Blast Launches Mainnet With SynFutures V3 On Board