Bakkt stock price forecast: $8.84 resistance as BKKT retreats 4.59%

Traders Union
All News
Financial News
Bakkt slides 4.59% to $7.28 today

Highlights

BKKT remains under steady selling pressure, trading below critical moving averages across all timeframes.
Momentum and trend indicators confirm a prevailing bearish bias, with no major reversal signals detected.
Short-term range is projected between $6.55 and $8.00, with less than 20% probability of a sustained upward move.

Bearish momentum strengthens amid weak trend and persistent volatility

Technical signals highlight continued weakness in BKKT. The Ichimoku Kijun sits at $8.84, representing immediate resistance above the current price, while the MACD on daily and weekly timeframes both indicate a 'Sell' signal. With an ADX of 11.26 (D1) and 16.86 (W1), trend strength is weak, while the RSI readings at 37.29 (D1) and 40.30 (W1) confirm bearish, but not oversold, conditions. Stoch RSI trades at 65.04, and CCI is at -82.91, neither suggesting a reversal, while BBP at -0.27 points to intraday seller dominance. The Awesome Oscillator remains neutral, and the price sits near the session low ($7.03 — $7.46), evidencing elevated volatility with consistent downward momentum since the open.

Further downside probable as resistance holds and momentum stays weak

Over the next five sessions, BKKT is expected to trade within a $6.55 to $8.00 volatility band relative to current levels. The likelihood of a price advance is low (under 20%), favoring continued downside. The baseline scenario is sideways movement between $6.55 and $8.00 as momentum stays neutral to bearish. A decisive break above resistance at $8.84 could open the way to higher targets, while a fall through $6.55 would expose the stock to further declines, in line with prevailing intraday and weekly signals.

Anton Kharitonov, expert at Traders Union, sees Bakkt Holdings, Inc. (BKKT) entrenched below all key moving averages with persistent technical weakness. The analyst highlights that major indicators like Ichimoku, MACD, and ADX all point to weak trend and limited upside, while volatility remains elevated. Kharitonov is cautious, expecting sideways to lower action within the $6.55 — $8.00 band unless a breakout above $8.84 occurs. "Until BKKT reclaims resistance at $8.84, my outlook stays defensive with no clear catalyst for reversal."

Earlier, analysts noted that Bakkt was experiencing persistent bearish momentum across major timeframes. The latest technical evidence not only reinforces this negative outlook but also indicates that traders should watch for a potential breakdown below $6.55, which could intensify downside risk.

Source of Data: BKKT Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.