TREE Price Surges After Upbit Listing | Credit: Hameem Sarwar
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Key Takeaways
Upbit listed Treehouse (TREE) on Aug. 28, triggering a price surge.
Previous Upbit listing pumps did not last long term.
Can Treehouse break the curse and sustain its increase?
South Korean exchange Upbit listed Treehouse (TREE) today, causing its price to surge by 150%.
The so-called Upbit listing effect caused a considerable increase in the API3, Omni Network (OMNI), CYBER, and Hyperlane (HYPER) prices.
Besides listing, Treehouse announced more positive news, stating it will complete its expansion to Avalanche tomorrow.
Considering that, let’s analyze the TREE price movement to see if it can begin a similar rally.
TREE Price Analysis
Since listing, the TREE price has fallen under a descending resistance trend line, reaching an all-time low of $0.27 on Aug. 25.
Treehouse broke out before the Upbit listing, but did not accelerate its increase until today, when its price surged by 150%.
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The Relative Strength Index (RSI) reached overbought territory and fell, while the Moving Average Convergence/Divergence (MACD) is at an all-time high.
The Treehouse price has not created any clear pattern, so more consolidation inside a horizontal range could occur. Currently, the range is between $0.38 and $0.58.
Previous Upbit Listings
An analysis of the four previous cryptocurrencies that pumped after their Upbit listing, API3, Hyperlane (HYPER), Omni Network (OMNI), and CYBER, shows that none sustained their increase after the listing.
OMNI is the only one that reached a new high after the listing, but even that could not be sustained, eventually leading to new lows.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Valdrin Tahiri is a cryptocurrency analyst and reporter at CCN, specializing in technical analysis with a focus on Elliott Wave theory, on-chain metrics, and fundamental research. He brings over seven years of experience in the crypto space as both a trader and writer.
He discovered cryptocurrencies in 2017 while earning his MSc in Financial Markets at the Barcelona School of Economics, which sparked a deep interest in blockchain and market dynamics. Since then, he’s contributed to top crypto outlets like BeInCrypto and CoinGape.
Valdrin also served as Community Manager of BeInCrypto’s Telegram group for three years, helping grow it into one of the largest crypto communities worldwide. His expertise in market structure and price patterns allows him to break down complex trends into clear, actionable insights.
He’s published thousands of articles covering altcoins, Bitcoin cycles, and macro trends.
