Bitget Token (BGB) Targets $5 After Reaching New ATH

Bitget Token (BGB) recently hit a new all-time high (ATH) of $4.45, just 5% away from this peak. Trading volume surged by 53.3%, reaching $376.81 million in just 24 hours. This spike follows Bitget’s recent move into the UK market, drawing more traders and investors. 

Bitget’s UK Expansion Sparks Excitement

Bitget’s UK return is a big deal. Under the Financial Promotions Regime, the platform now offers more than 150 tokens to UK users. This puts Bitget ahead of many competitors in the region. 

The ongoing Fuel Network LaunchX event only adds to the excitement. The event offers 275 million FUEL tokens at a low price of 0.02 USDT, creating a sense of urgency. With demand increasing for BGB, this could be the spark pushing the token toward $5.

BGB’s Technical Indicators: What’s Next?

On the technical side, some signals are mixed. BGB has followed a strong upward trend, but short-term signs show potential weakness. The RSI dropped to 48.16, below the neutral 50 level, hinting that momentum may be slowing down.

Additionally, the MACD has formed a bearish crossover. The blue line has crossed below the signal line, indicating possible pullback. Traders need to keep an eye on the $4.22 support level. 

Despite these warnings, the overall trend remains positive. The support at $4.22 and the previous resistance at $4.00 offer crucial points to watch. Bitget’s continued expansion could propel BGB to the $5 mark, making this token one to watch closely.