Bakkt stock selloff: Downside targets to watch

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Bakkt drops 3.64% today to $7.68

Highlights

BKKT trades well below key moving averages, reinforcing a persistent short- and long-term bearish trend.
Momentum indicators are oversold, but strong selling pressure dominates, signaling limited probability of a near-term reversal.
Expected price consolidates between $7.06 and $8.30 over four days, with a 79% probability of further downside if support breaks.

Bearish momentum accelerates as support breaks and oversold signals emerge

On the H1 chart, BKKT is trading below both the MA-20 at $8.07 and MA-50 at $7.97, while the daily MA-200 remains higher at $13.69. The Ichimoku Kijun on the daily timeframe stands as immediate resistance at $7.86. RSI is at 37.98, and both CCI and Stochastic RSI are in oversold territory. MACD and ADX are neutral. Bull/Bear Power readings indicate dominance by sellers intraday, while the Awesome Oscillator has issued a strong sell signal. Intraday volatility is elevated, with the price sitting close to the session low after a downward gap at the open.

Downside risk prevails as consolidation expected within set range

In the short term, the expected price range for BKKT is $7.06–$8.3 over the next four trading days. There is a 79% probability of further downside, while upward movement is less likely at 21%. The baseline scenario anticipates consolidation within this corridor, with a bullish case depending on a sustained move above $7.86. If the price breaks below $7.06, further declines could occur.

Viktoras Karapetjanc, senior analyst at Traders Union, believes current price action in BKKT reflects persistent bearish sentiment and a lack of fresh catalysts. He sees the prevailing macro and technical momentum weighing on the stock, despite temporarily elevated volatility. Indicators show sellers are in control, with immediate resistance at $7.86. However, the analyst remains optimistic that consolidation above $7.06 may provide a foundation for a potential turnaround. "Short-term downside risks remain, but I see a constructive setup emerging if BKKT can reclaim the $7.86 level in coming sessions."

Earlier, analysts noted that Bakkt stock was locked in a period of sideways trading amid mixed technical signals and persistent uncertainty. With new evidence of increased selling pressure and a strong downside bias, traders should monitor for a potential breakdown below $7.06, which could trigger accelerated declines.

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.