BLUM Coin Price Crash After MEXC Listing: What’s Next For Blum?

Blum Price Crash After Listing: What’s the Next Target for BLUM/USDT?

Blum token’s MEXC listing created initial excitement—but will it hold up under heavy profit booking, or is there a rebound on the horizon?

After being so awaited, the Blum listing went live at exactly 11:00 AM UTC. The market, in fairly unstable conditions to begin with, first went up sharply and then turned down sharply—a fairly usual price action at new listings. Instead of the expected bullish price action, the token looks to be at a very dangerous crossroads: The price could pull off some bullish moves, or selling pressure could very well fall on the token.

Blum Lists on MEXC But Misses Major CEX Momentum

Unlike tokens that launch on top-tier centralized exchanges like Binance or KuCoin, Blum’s debut on MEXC did not have the kind of deep liquidity or huge trading volume that can stand the price of a token through an extended uptrend. Limited exposure followed with some early profit booking, which resulted in selling pressure bearing down hard. 

This isn't a very new picture. Many recent token launches have seen that late huge pump, deep selloff, and fast exit ride from investors looking to make quick bucks. Blum, sadly, has taken that path too.

5-Minute Chart Reveals a Classic Post-Launch Pattern

Analyzing the 5-minute candlestick chart gives us a clearer picture. The token recorded a quick initial sharp up-thrust to $0.27, more than likely based on listing hype and early buys. This initial excitement did not last for long.

Following this sudden initial up-move was a very steep and speedy drop-and-drop in price levels below $0.010. Large-volume selloffs triggered this environment, as indicated by the large red candles on the charts. Early holders seem to have rushed to secure profits.

Signs of Stabilization: Is the Panic Selling Slowing Down?

Interestingly, the most recent volume and volatility levels seem to be dampening. This may be a sign of panic selling slowing down. BLUM is seemingly consolidating around the $0.09–$0.10 zone, with traders starting to speculate if this could be a new support area. 

Equally, the RSI is currently neutral. This means that in the relatively near-term, the price could take either of two roads, depending on market sentiment and volume triggers.

What’s Next? Key Levels to Watch

If the altcoin manages to hold above the key $0.09 support area might hold off an extended recovery into the $0.11–$0.13 resistance area. Strong buying pressure and a breakout above consolidation would confirm the bullish scenario. 

Source: TradingView

If sellers come back into play, pushing the price below $0.09 with significant volume, there could be a possible fall toward $0.07 or even lower. Participants should look for volume confirmation as well as the trend structure before making any moves.