BLES price surged 230% in a single day, setting a new historical high, with a double bottom breakout igniting a market capitalization of 200 million USD.

The price of BLES broke its historical high of $0.1125 on October 15, soaring 230% within 24 hours, and has accumulated a rise of 390% from this week's low.

The key to the explosive rise against the backdrop of a generally sluggish crypto market lies in the perfect double bottom breakout, the catalyst of the BNB Alpha competition, and the strong expectations for listings on mainstream exchanges, with trading volume surging by 150% to $101 million, pushing the market cap to surpass $200 million.

BLES price hits an all-time high, trading volume surges boosting market value

(Source: Trading View)

Bless Network token made headlines on October 15, with the BLESS price soaring to a historic high of $0.1125, an increase of more than 230% in the past 24 hours. Even more astonishing, when calculated from this week's low, the BLESS price has accumulated an increase of over 390%, making it one of the standout assets in the recent cryptocurrency market.

This wave of pump occurred in a high trading volume environment, not a fake lift due to a lack of liquidity. Data shows that the 24-hour trading volume surged by 150%, reaching an astonishing level of $101 million. This healthy pattern of both price and volume rising indicates that real buying power is driving the price of BLES up, rather than market manipulation by a few large holders.

With the price surge, the total market capitalization of Bless Network has successfully surpassed the 200 million USD mark. This milestone is significant for a relatively young project, marking its transition from a small altcoin to a medium-cap project, gaining broader market recognition and attention.

It is worth noting that this wave of pump occurred against the backdrop of a relatively weak overall cryptocurrency market. When mainstream currencies like Bitcoin and Ethereum are consolidating or even slightly correcting, the parabolic rise in the price of BLES further highlights its unique fundamental drivers. This independent trend that decouples from the market often indicates that there are strong catalysts within the project itself, rather than simply following market sentiment fluctuations.

From a technical indicator perspective, the relative strength index (RSI) of BLES price has entered the extremely overbought zone, indicating that there may be profit-taking pressure in the short term. However, the continuous increase in trading volume shows that new capital is still flowing in, and the bullish control of the situation remains strong.

Double bottom pattern perfectly breaks through, strong rebound supported by technical analysis

From a technical analysis perspective, the main reason for the big pump in BLES price is that it formed a textbook-standard double bottom pattern at $0.0234. The two bottoms of this classic bullish reversal pattern appeared on October 1 and October 10, both bouncing back strongly after hitting the same low point, indicating that there is strong support at this price level.

The neckline of this pattern is located at $0.07535, corresponding to the local high on October 6. In technical analysis theory, the double bottom pattern is only confirmed when the price successfully breaks through the neckline. The price of BLES not only successfully broke through this neckline but also surged past the previous historical high of $0.1070, completing a full interpretation from pattern confirmation to new high.

The double bottom is one of the most reliable bullish patterns in technical analysis, as it reflects a fundamental shift in market psychology. When the price touches the previous low for the second time without breaking below it, it indicates that bears are unable to further suppress the price below that level, while bulls are accumulating positions in preparation for a counterattack. This reversal in supply and demand dynamics often signals that a fundamental change in trend is about to occur.

From the perspective of pattern theory, the target level after a double bottom breakout is usually twice the height of the neckline. Taking BLES as an example, the distance from the bottom of 0.0234 USD to the neckline of 0.07535 USD is approximately 0.052 USD, so theoretically the target level after the breakout should be around 0.07535 + 0.052 = 0.1273 USD. Currently, the price of BLES is already very close to this theoretical target, indicating that this wave of increase is basically in line with technical expectations.

However, professional traders also need to be vigilant about the common reversal risks after parabolic trends. In most cases, a technical pullback will occur after this sharp rise, as early investors will choose to take profits. If the BLES price falls from the current high, the next key support level to watch will be the previous neckline at $0.07536.

If the price pulls back to that level and gains support before rising again, a classic “breakout and retest” pattern will form. This is a strong bullish continuation signal, indicating that the breakout is valid and the trend will continue. Conversely, if the BLES price falls below the neckline support, it may signal that this wave of increase is a false breakout, requiring a reassessment of bullish strength.

BNB Alpha competition and exchange listing expectations ignite market enthusiasm

In addition to the perfect technical formation, the surge in BLESS price is also driven by multiple fundamental catalysts. One of the most important driving forces is the ongoing Alpha competition for BNB. This event, which started earlier this month, offers users the opportunity to share a reward of 2 million dollars, and Bless Network is one of the key selected projects.

According to the competition rules, each Bless winner will receive 1,100 BLESS tokens as a reward. The competition also involves other projects such as AOP and STBL, and is expected to conclude later this month. This large exchange's promotional event not only brought significant exposure to the project but also attracted a large number of new users to关注 and purchase BLESS tokens.

Moreover, the BNB Alpha competition is often seen as a preliminary battle for official listings on major exchanges. Historically, many tokens that have gained promotion through Alpha projects have successfully landed on the BNB platform's spot trading market. The market generally speculates that Bless Network's participation in this competition may imply the possibility of a future listing on the main site of the BNB platform, and this expectation is driving the price of BLESS to react in advance.

Currently, the main trading platforms for BLES include Gate. Although these exchanges already provide considerable liquidity, being listed on top exchanges would bring a qualitative leap for the project. These platforms have tens of millions of active users, and the trading volume and market value growth after listing often show exponential bursts.

Discussions on social media about Bless Network's upcoming listing on more mainstream exchanges are heating up, and this expectation is becoming self-reinforcing, attracting more and more speculative capital to enter the market early. Although the official timeline for the listing has not yet been confirmed, the market has already begun to vote with its feet, pushing the price of BLESS to continue rising.

The roadmap reveals technological advancements, GPU nodes and fiat gateways are coming soon

In addition to the catalysts related to the exchange, the technical roadmap recently released by the Bless Network development team also provides substantial support for the rise in BLESS prices. According to this roadmap, the project will launch two key features in the coming weeks: GPU ready nodes and fiat access channels.

The launch of GPU ready nodes has significant strategic importance. In the context of the explosive demand for decentralized computing and AI training, a node network capable of supporting GPU computing has enormous market potential. Bless Network is trying to carve out a share in this rapidly growing field, challenging competitors like Grass that already occupy a significant market share.

The construction of fiat currency entry directly lowers the participation threshold for users. Currently, most cryptocurrency projects require users to first purchase mainstream currencies such as Bitcoin or Ethereum, and then exchange for the target token through decentralized exchanges. This process is complex and filled with risks for newcomers. If Bless Network can provide a direct fiat purchase channel, it will significantly expand the potential user base, especially for mainstream users who are not very familiar with cryptocurrencies.

This roadmap provides a clearer blueprint for the project's future development, showing investors actual technological progress rather than empty visions. In a cryptocurrency market filled with air projects and scams, projects that can advance technological development as planned often find it easier to gain the trust and support of long-term investors.

It is worth noting that the decentralized computing track that Bless Network chooses to enter is on the eve of an explosion. With the exponential growth in demand for AI model training, traditional centralized cloud computing services are facing computing power bottlenecks and cost pressures. Decentralized GPU networks provide an innovative solution that can aggregate idle computing resources from around the world, offering cheaper and censorship-resistant services. If Bless Network can achieve substantial progress in technology and ecosystem development, its long-term value may far exceed its current market value level.