BGB/USDT Consolidates Near $5.62 Resistance, Maintaining Bullish Structure

Bitget Token Price Analysis – October 2

Bitget Token is locked in a tight consolidation phase just below a major overhead resistance, following a sustained move higher since mid-year. The market structure remains firmly bullish on the macro scale, but the current supply zone at $5.628 is proving difficult to breach, leading to a period of price compression as buyers attempt to gather momentum for a breakout.

Bitget Token Key Level

Support Levels: $5.271, $4.750
Resistance Levels: $5.628, $6.753

Bitget Token Long-Term Trend: Bullish (Daily Chart)

On the daily timeframe, BGB/USDT has been in a clear and powerful recovery uptrend since finding a major bottom around the $3.719 level earlier in the year. The market structure has established a pattern of sustained appreciation, successfully breaking above the mid-range resistance at $4.750 and is now challenging the significant supply zone at $5.628. This aggressive push confirms that the overall market sentiment is strongly bullish.

The PPO (12, 26, 9) is highly positive, with the PPO line above the signal line and the histogram at 2.06, confirming robust and sustained upward momentum. The indicator’s positive reading signals to traders that the foundational strength for the rally is intact and continuing to build.

Market Expectation

On the 4-hour chart, BGB/USDT is currently trading at $5.777, showing a negligible intraday change of -0.08%. The market is in a tight short-term consolidation, oscillating between the recent high and the intermediate support at $5.271.

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