Bakkt shares technical analysis: Selloff tests $7.54

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Bakkt slides 6.06% to $7.9 today

Highlights

BKKT/USD remains under heavy selling pressure and trades below all major moving averages, indicating persistent bearish sentiment.
Momentum and volume indicators confirm strong downside traction, with both short-term and long-term signals suggesting further weakness.
Short-term trading is expected within the $7.54 to $8.26 range, with high probability of downside continuation and key resistance at $8.35.

Technical weakness intensifies as downside momentum overtakes support

On the technical front, BKKT has closed below both the 20-period ($8.38) and 50-period ($8.4) moving averages on the hourly chart, as well as remaining well under the long-term 200-period moving average at $14.42 on the daily chart. Immediate resistance is defined by the Ichimoku Kijun at $8.35. Momentum indicators reinforce this weakness: the Moving Average Convergence Divergence (MACD) and Awesome Oscillator both confirm strong downside momentum, with Average Directional Index (ADX) registering neutral trend strength. The Relative Strength Index (RSI) stands at 35.06 and indicates a short-term sell bias, while both the Stochastic RSI and Commodity Channel Index (CCI) are in deeply oversold zones. Intraday, the Bull/Bear Power (BBP) shows that sellers continue to dominate order flow, and no bullish divergences were detected.

Limited rebound potential as downside risk prevails below support

Looking ahead, price action in BKKT is expected to remain constrained within the $7.54–$8.26 range over the near term based on typical volatility. The probability of an upward breakout is very low, while further declines below $7.54 carry high likelihood. A short-term sideways scenario is the base case, with a bullish reversal only likely if price clears resistance at $8.35. Renewed selling may accelerate if support at $7.54 is breached.

Anton Kharitonov, expert at Traders Union, notes that Bakkt (BKKT) shows continued technical weakness with price stuck below key moving averages and no positive news supporting sentiment. Indicators remain firmly bearish, and momentum favors the downside. He believes any bullish scenario requires a decisive move above resistance at $8.35. "Base case is sideways to lower while under $8.35 — renewed selling likely if $7.54 breaks," Kharitonov advises.

Earlier, analysts noted that Bakkt had shifted into a bearish technical structure amid prevailing seller dominance. The latest developments not only reinforce this negative outlook but also heighten downside risks, making $7.54 a critical support level for traders to monitor in the days ahead.

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.