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The Bitget Token price surged 17% in the last 24 hours to trade at $5.99 as of 09:32 p.m. EST on trading volume that skyrocketed 141% to $806 million.
Bitget Token Price On A Sustained Bullish Trend
The Bitget Token price recently demonstrated a robust bullish trend, as seen in the chart. After a period of sideways consolidation from December 22 to December 24, the price broke out of a resistance level near $5.50. According to GeckoTerminal data, this breakout was accompanied by a significant increase in volume, signaling strong buying momentum.
Following the breakout, the BGB price encountered a brief consolidation near $5.80 (highlighted by the rectangular box), forming a bullish flag pattern. The subsequent breakout from this flag has driven the price higher, pushing it to the current level of $5.99.
The 25-day Simple Moving Average (SMA) (yellow line) is currently above the 50-day SMA (white line), confirming the bullish trend. Both moving averages are sloping upward, further validating the momentum. The Bitget Token price trades well above both moving averages, indicating strong buying interest.
The Relative Strength Index (RSI) is at 76.75, which is in the overbought territory. While this suggests that the asset is experiencing strong bullish momentum, it also hints at a potential pullback or consolidation in the near term, as overbought conditions typically lead to profit-taking.
Given the current bullish momentum, the BGB/USD pair is likely to test the next psychological resistance at $6.20 in the short term. If the price sustains above $5.80, the bullish scenario remains intact, and the upward trajectory could continue toward $6.50 or higher.
Conversely, if a pullback occurs, key support levels to watch are the 25-day SMA at $5.55 and the 50-day SMA at $5.15.
As the BGB price jumps, investors are also snapping up the new Solana meme coin Solaxy (SOLX). 99Bitcoins, a popular crypto channel on YouTube with over 719K subscribers, says it might soar 100x after launch.
Solaxy Presale Raises Over $5.6 Million – Next Big Layer-2 Crypto?
The Solana mainnet has recently faced negative attention from the media due to congestion. Traders are frustrated as delays in transaction settlements lead to potential financial losses.
Enter Solaxy, a novel layer 2 solution for Solana, which reduces the strain on the mainnet by bundling transactions offline, lowering the number of requests that nodes process. As a result, Solaxy offers a more efficient and transparent ecosystem with lower transaction speeds and is infinitely more scalable.
🚨 Solaxy is now live in Upcoming Tokens! 🚨@SOLAXYTOKEN gives holders an opportunity to join the first-ever Solana Layer 2 blockchain.
Solaxy is set to enhance blockchain innovation through limiting congestion, reducing failed transactions, and improving scalability on SOL.… pic.twitter.com/satNF6zFNF
— Best Wallet (@BestWalletHQ) December 17, 2024
Investors are buying into the innovative idea, with the presale racing past $5.6 million in early funding.
Buyers of the SOLX token can also earn passively on the platform, with a humongous 730% annual staking return.
Investors interested in participating in the presale can visit the official Solaxy website to buy SOLX tokens at the current price of $0.00158 each using BNB, ETH, USDT, or a bank card.
Buy before a price hike in slightly more than a day to secure the best deal.
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