Bakkt stock price forecast: Eyes on $9.98 resistance as BKKT gains 4.05%

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Bakkt gains 4.05% to $9.38 today

Highlights

BKKT demonstrates bullish short- and medium-term momentum, trading above key moving averages with strong intraday buying activity.
Momentum and trend indicators mostly signal further upside, but neutral readings on select oscillators suggest near-term consolidation is possible.
Price is expected to range between $8.68 and $9.98, with a 63% probability of an upward breakout, while $9.03 serves as immediate support.

Upward momentum holds as technical boundaries signal mixed risk

On the hourly chart, BKKT is trading above the MA-20 ($9.10) and MA-50 ($8.52), while the price remains below the MA-200 ($14.52). The Ichimoku Kijun sits at $9.03, providing immediate support. Momentum readings are constructive: the MACD signals Strong Buy, the ADX is Neutral, the RSI reads 57.29, and Stoch RSI indicates Strong Buy. CCI and the Awesome Oscillator are Neutral, while BBP reflects clear buyer dominance intraday. The majority of oscillators suggest ongoing upward potential, though Neutral readings on the ADX and CCI may signal a potential pause following the sharp rally.

Consolidation seen as price faces resistance and support tests

In the short term, BKKT is likely to fluctuate within a volatility band between $8.68 and $9.98. Price action shows a 63% probability of an upward move and a 37% likelihood of a pullback. The base scenario is for consolidation; sustained upside requires a break above immediate resistance, while a breach of support near $9.03 would open the door to a bearish reversal.

Anton Kharitonov, Traders Union expert, notes that BKKT shows technical strength above key short-term averages, but the absence of news limits confidence in further upside. Momentum oscillators point to ongoing bullishness, while some neutral readings warn of a possible stall. He sees the base scenario as range-bound consolidation between $8.68 and $9.98, with resistance and support levels dictating the next move. "Until we see a decisive breakout above immediate resistance or fresh catalysts, I remain cautious and expect price to consolidate in the current range."

Earlier, analysts noted that Bakkt was exhibiting strong bullish momentum with potential for continued upward moves. The latest developments reinforce this outlook, suggesting traders should monitor for a confirmed break above the $9.98 resistance as a signal for further gains.

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.