Bitget Token (BGBUSDT) Extends Decline as Sellers Drive Price Toward Critical $2.270 Support

BGBUSDT Price Analysis – Bitget Token Tests Key Demand Zone at $2.350

Bitget Token (BGBUSDT) has been locked in a relentless downtrend over the past several weeks, with the token currently trading at $2.350, down -0.17% on the 4-hour chart. The exchange token has shed significant value from its October highs near $5.50, as persistent selling pressure continues to overwhelm any attempts at bullish recovery. Market participants have exhibited risk-off behavior, with recent price action characterized by consistent lower highs.

Bitget Token Long-Term Trend – Bearish (Daily Chart)

Daily Key Levels:

Support Zone: $2.270, $2.700
Resistance Line: $3.320, $3.700

The daily chart for BGBUSDT paints a decisively bearish picture, with price action confirming a multi-month downtrend characterized by systematic rejection at lower resistance levels. Since the October peak the market structure deteriorates significantly, with each rally attempt being met with aggressive distribution. The Awesome Oscillator (AO) on the daily timeframe currently reads -0.198, firmly in negative territory.

The Money Flow Index (MFI) positions at 35.94, hovering just above oversold territory but showing no signs of a bullish inflection point. This reading suggests that while selling pressure has been intense. The MFI’s trajectory has been consistently declining throughout January and February, reflecting persistent outflows.

Bitget Token Short-Term Trend Analysis (4-Hour Chart)

The 4-hour chart reveals BGBUSDT in a precarious technical position, with price grinding lower within a tight descending channel. Recent candle structures show consistent selling pressure, with multiple bearish engulfing patterns and long upper wicks indicating rejection at every attempt to rally. The most recent sessions have printed small-bodied bearish candles with minimal lower wicks, forming a bearish crypto signal.

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