Bitget Token Price Forecast: BGBUSD Ascends Above Critical Key Level

Bitget Token Price Forecast: February 6

The Bitget Token price forecast indicates more bullish momentum in the market, especially after ascending above a critical zone.

Bitget Token Long-Term Trend: Bullish (1Day Chart)
Key Levels:

Resistance Levels: $7.000, $7.4600
Support Levels: $6.600, $5.9800

Like several cryptos, the Bitget token also experienced a downturn in January that saw the price fall to $4.8000. However, the bulls remained active and immediately ensured a bullish reversal. Now, the coin has ascended above the $6.600 price level, and buyers will be looking further to push the coin higher, despite the slip back below.

Bitget Token Price Forecast: BGB/USD Outlook

From last December, the token made a major move in the market that saw the price spike to $8.5000 from the $4.000 key level.

A rejection plunged the coin, but not for long, as the price began rising on a trendline. This led to another major rejection at $7.800, but the coin has recovered well enough above $6.600.

Despite the bullish prowess, BGBUSD still has to overcome bearish pressure. This is shown by how it slips back below $6,600. To rise higher, it has to trade above the MA period 14 (Moving Average). The Momentum indicator is currently negative, but it looks set to keep rising, strengthening the bulls. Traders can leverage crypto signals to identify potential entry and exit points.

Bitget Token Medium-Term Trend: Bullish (4-hour chart)

On the 4-hour timeframe, the impact of the buyers is more evident. The candlesticks rose comfortably above $6.600 before slipping below again, but the candles have risen above the MA period 14 again with an aim to start pushing higher again.
The 4-hour Momentum indicator has pushed upward into a positive value, showing increased momentum in the market, which the bulls are taking advantage of. We expect to see more bullish movements as BGB prepares to rise again above $6,600 and reach $7.000.

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