BGB Price’s 100% Rally Faces Correction For This Reason
Bitget Token (BGB) has had an impressive rally, setting new all-time highs (ATH) almost every day over the past month.
However, recent indicators suggest that this bullish momentum may be cooling down, potentially leading to increased selling pressure as investors reassess their positions.
Bitget coin may face sell-off
Price DAA divergence indicator issues sell signal for first time in four months, raising concerns about price sustainability BGB rally. The signal comes amid a noticeable drop in investor participation, with many choosing to take a step back and observe how the market performs around the New Year.
Declining participation could undermine BGB’s ability to sustain its upward momentum. While investors are understandably cautious after such a sharp rise, it also makes the coin more vulnerable to short-term corrections, especially if the broader market trend turns bearish.
BGB’s macro dynamics Affected by its negative correlation with Bitcoin, it currently stands at -0.16. This inverse relationship means that BGB’s price moves in the opposite direction to Bitcoin’s, a trend that could be worrying if BTC’s price rises further.
Historically, whenever BGB’s correlation with Bitcoin improved after lows, it has shown strong recoveries. While negative correlation creates short-term challenges, it also provides BGB with the opportunity to decouple and forge a path based on unique market conditions.
BGB Price Prediction: Back to ATH
BGB price It fell 17% in the past 24 hours after rising 104% last week. This decline appears to be a natural cooling after a period of rapid growth and may be accompanied by a further correction in the short term.
If losses continue, BGB could slip to test support at $4.90, erasing a large portion of its recent gains. Such a decline could trigger massive profit-taking by investors, further pressuring the token’s price.
However, a strong recovery, supported by bullish cues from the broader market, could drive Beyond BGB The current ATH is $8.49. Reaching new highs would invalidate the bearish thesis and signal new momentum for the coin, solidifying its status as a market outperformer.
Disclaimer
conform to trust project Guide, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to providing accurate and unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult a professional before making any financial decisions. Please note that our terms and Conditions, privacy policyand Disclaimer Updated.
