CandleFocus

Bitget’s BGB Tops Market Gains with 4% Rise, but There’s a Catch

Bitget's native token, BGB, has experienced a 4% price surge in the past 24 hours, making it the top gainer among the top 100 cryptocurrencies. However, technical indicators suggest a potential decline in the token's price. The Balance of Power (BoP) indicator shows that sellers are exerting influence, indicating a lack of strong buyer conviction. Additionally, the Chaikin Money Flow (CMF) is negative, suggesting selling pressure dominates. If bearish pressure intensifies, BGB may decline further, with a major support level at $4.42. However, a resurgence in buying activity could push the token's price towards its all-time high of $8.50 and beyond.

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