Bullish (BLSH) Price Forecast: Breakout Could End Downtrend

Bottoming Attempt After Steep Decline

The stock of Bullish (BLSH) is showing signs that it may have found a bottom and is preparing for another leg up. In addition to operating the Bullish Exchange for digital assets and derivatives, the company also runs CoinDesk media services. Bullish went public in August 2025 at $37 per share and quickly reached a record high of $118.00 on the same day. Since then, shares have trended down, reaching a low of $24.79 in early-February. That low may have ended a 79% decline that saw three legs down in the stock following the $118.00 high.

Key Resistance and Near-Term Consolidation

Although BLSH made a new low on February 5 when it reported Q4 2025 earnings, a sharp bullish reversal triggered a couple of days later. That advance led to a reclaim of the 10-day moving average, and the 20-day moving average has been challenged as resistance since then. Subsequently, BLSH has been consolidating in a relatively narrow range near the 20-day moving average that represents dynamic trend resistance, and a long-term downtrend line that began from the October highs.

Breakout Setup and Trend Confirmation

The technical evidence supporting a trend reversal is in place and awaiting breakout signals. It is interesting to note that the high for the recent advance was hit last Friday at $33.48 and it was almost an exact touch of resistance at the downtrend line. Therefore, a decisive breakout above that high would trigger a breakout of the trendline and confirm a reclaim of the 20-day moving average. In addition, it will trigger a possible breakout of recent consolidation, which has taken the form of a small broadening formation.

Upside Targets and Confirmation Levels

An upside breakout will indicate a bullish reversal from downtrend to uptrend, though confirmation will be needed. The first target is the 50-day moving average, which has defined dynamic resistance during the decline and must be reclaimed with a daily close above it to support further upside. Beyond that, the minor swing low at $42.35 is the next key level, as a recovery above it would reinforce a broader trend reversal. A confluence of Fibonacci retracement levels near $43.74-$43.96 adds to technical significance of that zone.