Bakkt shares technical analysis: Downward price move highlights ongoing seller pressure

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Bakkt drops 3.85% today to $5.75

Highlights

Bakkt and Thredd have partnered to offer a credit card-as-a-service product featuring stablecoin settlement capabilities, expanding Bakkt's footprint in digital payments.
The partnership enables Bakkt to apply its digital asset technology in traditional consumer financial products to reach new markets.
Shares of Bakkt fell 3.85% to $5.75, with negative momentum and sustained selling pressure indicating a likely trading range of $5.18 to $6.32 in the near term.

Stablecoin-powered credit card partnership meets persistent selling pressure

Bakkt has partnered with card issuer processing platform Thredd to develop a credit card-as-a-service program that incorporates stablecoin settlement infrastructure. This collaboration allows Bakkt to extend its digital asset expertise into consumer credit and payment products, potentially enhancing its reach and utility within traditional financial services. While the initiative may support future adoption of Bakkt's solutions, price action has remained under broader selling pressure.

Bearish momentum persists with strong resistance and oversold signals

On the hourly chart, BKKT is trading below the MA-20 and MA-50, with the daily price action holding under the MA-200. Immediate resistance is identified at the Ichimoku Kijun level of $6.28. Momentum indicators remain negative as both MACD and ADX signal ongoing selling, while RSI is deep in oversold territory at 22.73 and CCI remains in sell mode. Stochastic RSI is neutral, and Bull/Bear Power confirms sellers are dominating intraday momentum. The Awesome Oscillator is neutral and does not offer additional directional bias.

Downside risk dominates as volatility constrains rebound prospects

In the short term, BKKT is expected to remain volatile and fluctuate within the $5.18 to $6.32 range. The probability of an upside move is very low, while the chance of continued downside is high; a meaningful rebound appears unlikely in the near term. The baseline scenario involves trading within this corridor as volatility persists. A break above $6.28 could prompt short-term covering, whereas a sustained move below $5.18 would reinforce the prevailing downtrend and may open the way for further losses.

Anton Kharitonov, expert at Traders Union, sees Bakkt's partnership with Thredd as a strategic step, but notes little immediate impact on the stock's sentiment or momentum. Technical setup remains weak, with persistent selling pressure and oversold signals. The risk of further downside outweighs any near-term catalyst from the recent news. "As long as price stays below $6.28, I remain defensive and see no conviction to buy."

Previously it was reported that Bakkt stock continued to show technical weakness despite its strategic move into stablecoin-settlement services through a key partnership. The current analysis reaffirms this bearish outlook, with traders advised to monitor the $5.18 level closely as a sustained break below it could accelerate losses.

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.