Bakkt stock forecast: Downside momentum likely to persist with weak seller dominance

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Bakkt slides 3.99% today to $5.66

Highlights

Bakkt Holdings is partnering with Thredd to launch credit cards that will settle transactions in stablecoins, entering the consumer credit and payments sector.
The move diversifies Bakkt's settlement infrastructure and service reach, but current market response remains subdued with selling pressure continuing.
Shares of Bakkt trade below key moving averages with technical signals remaining bearish; the expected range is $5.02 to $6.3 and further downside is very likely.

Stablecoin credit card partnership met with persistent seller caution

Bakkt Holdings announced a partnership with card issuer processing platform Thredd to develop a credit card-as-a-service program featuring stablecoin settlement, according to Cointrust. This initiative is designed to expand Bakkt's settlement infrastructure into the consumer credit and payment sector by offering credit cards that settle transactions in stablecoins. While this diversification may eventually broaden Bakkt's distribution channels and service reach, market reaction has remained muted as selling pressure persists.

Bearish momentum persists as key resistance levels strengthen

Technical analysis shows BKKT trades below its MA-20 at $6.11, MA-50 at $6.63, and is well under the MA-200 at $9.41. The Ichimoku Kijun level at $6.22 is acting as immediate resistance. Momentum signals remain weak, with RSI at 34.24 reflecting ongoing selling, MACD giving a strong sell indication, and ADX pointing to downward trend strength. Stoch RSI highlights overbought conditions despite the broader negative momentum, while CCI and Bull/Bear Power both demonstrate seller dominance intraday. Awesome Oscillator is neutral and does not confirm the prevailing trend.

Further declines likely as consolidation zone narrows

Over the next several sessions, BKKT is likely to trade within the $5.02 to $6.3 range, marking the typical volatility band relative to current levels. Further downside is highly probable given prevailing technical signals, with a much lower likelihood of a reversal. A failed hold of $5.02 could accelerate declines to new lows, while any breakout above $6.22 resistance might trigger a short-term recovery attempt. The base scenario calls for consolidation between support and resistance.

Viktoras Karapetjanc, expert at Traders Union, sees Bakkt’s push into stablecoin-settled credit cards as a significant step that may attract institutional partnerships and future adoption. He believes the strategic deal with Thredd signals Bakkt’s intent to diversify its product offering, though market sentiment remains cautious for now. Technical signals remain negative, but the expansion into consumer finance is likely to enhance long-term prospects. 'If Bakkt continues to deliver on infrastructure deals like this, medium-term momentum could turn decisively in the company’s favor.'

Previously it was reported that analysts maintained a bearish outlook on Bakkt, citing persistent technical weakness despite its strategic push into stablecoin-settlement partnerships. The current analysis not only reaffirms this negative bias but also highlights increasing downside risk, with traders urged to monitor the $5.02 support level as a potential trigger for further 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.