Bakkt stock falls amid downward price move and continued seller pressure

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Bakkt drops 8.01% to $5.17 today

Highlights

Bakkt partnered with Thredd to offer a credit card-as-a-service platform that uses Bakkt's settlement rails and supports stablecoin settlement.
Thredd provides card processing, credit infrastructure, tokenization, fraud management, and digital wallet integration as part of the expanded fintech offering.
Shares of Bakkt fell 8.01% to $5.17 with persistent selling pressure, trading below key moving averages, with a projected range of $4.75 to $5.44 and a 77% probability of further declines.

Product expansion in fintech as Bakkt, Thredd partner amid seller pressure

Bakkt has entered into a partnership with Thredd to deliver a credit card-as-a-service platform that leverages Bakkt's settlement rails and incorporates stablecoin settlement, as reported by Atmmarketplace. Thredd will handle card processing and provide credit infrastructure, supporting additional features such as tokenization, fraud management, and digital wallet integration. This collaboration expands Bakkt's technical offerings in payments and digital assets, enhancing its positioning in the fintech sector, though price action has remained under broader selling pressure.

Seller control prevails as technicals signal oversold and resistance builds

On the technical side, BKKT is trading below the MA-20 at $5.54, MA-50 at $5.76, and MA-200 at $9.29. The Ichimoku Kijun at $5.52 now acts as immediate resistance, while the $4.75 level is a critical support. Both MACD and ADX confirm a prevailing sell bias, and momentum indicators such as RSI (32.69), Stoch RSI, and CCI all point to oversold conditions. Bull/Bear Power remains negative, reflecting strong seller dominance intraday; however, the Awesome Oscillator is neutral and does not confirm the broader selling pressure.

Sideways consolidation expected as downside risks dominate near term

In the near term, BKKT is likely to consolidate within a price range of $4.75 to $5.44, reflecting current volatility. Probabilities suggest a 77% chance of further downside and only a 23% likelihood of an upward reversal. The baseline scenario favors sideways consolidation within this range, while any bullish reversal would require a decisive break above $5.52. Failure to hold $4.75 as support could trigger additional declines.

Anton Kharitonov, expert at Traders Union, sees Bakkt’s technical setup as weak despite positive news from the Thredd partnership. He notes that price remains under all key moving averages, with bearish momentum confirmed by multiple indicators. Support at $4.75 is critical, and a base case of sideways or further downside prevails until a break above $5.52. "Unless price closes decisively above $5.52, I remain defensive and do not see a clear long opportunity here."

Earlier, analysts noted that Bakkt was exhibiting persistent technical weakness despite short-term improvements, and flagged downside risk as dominant. The current article reinforces the bearish outlook as BKKT continues to trade below key moving averages and with oversold momentum, making $4.75 a crucial support level for traders to monitor going forward.

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.