Bitget Token Price Jumps 12% Defying Market Trend, Can BGB Rally Continue?
The post Bitget Token Price Jumps 12% Defying Market Trend, Can BGB Rally Continue? appeared on BitcoinEthereumNews.com.
Bitget token (BGB) price shot up by 12% in the last 24 hours reclaiming its spot in the top twenty crypto-list despite the broader crypto market in a downtrend. Since the beginning of 2025, BGB has resumed its upward trajectory gaining nearly 20% over the past week even in this market volatility with surging trading volume showing investor confidence. Will the Bitget Token Price Rally Continue? The Bitget token witnessed a parabolic rally soon after Donald Trump’s election victory in early November, registering nearly 8x gains in less than two months time. However, after dropping to $5 support levels, the Bitget token price has been on an upward trajectory since the beginning of 2025. A Closer Look Into BGB Price Chart With today’s surge, the Bitget token has given a strong breakout above the crucial resistance of $6.72. More importantly, this breakout comes with a 101% surge in daily trading volume at $739 million which suggests that the rally will continue for some more time. Prior to this breakout, BGB successfully surpassed a descending trendline resistance at the $6.30 level on the technical chart. Historically, such trendline breakouts have triggered significant rallies in BGB, often propelling the token to new all-time highs. Source: TradingView If this pattern holds, BGB could target its previous all-time high of $8.50, with another 20% gains from the current price of $7.25. Technical Indicators In Focus Moreover, other technical indicators for Bitget tokens like MACD (Moving Average Convergence Divergence) are showing bullish momentum as the MACD line crosses above the signal line hinting at a continued upward price action. On the other hand, the Relative Strength Index (RSI) is currently at 75.2 suggesting strong buying momentum. Although it is approaching the overbought territory, it suggests that the buyers are still in control. Key Factors Behind…
Filed under: News - @ January 11, 2025 3:21 pm