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BGB Price Outlook: Support, Resistance, and Strong Fundamentals Driving Growth
BGB Price Support and Resistance Levels:
BGB has quickly risen to $2.28 after breaking through its previous high of $1.46, marking a 56% increase.
With no trapped positions left, the only potential selling pressure now comes from large investors who profited heavily in the early stages.
However, the strong fundamentals of the BGB Launchpool and Bitget have led many major players to rally behind the slogan “HODL, get $5 for BGB, get $10.”
The price above BGB remains open, with no clear, strong resistance levels. From the order book, $2.30 is currently the most visible resistance, while there is strong support at $2.10 and $2.00.
If the bull market continues or Bitcoin remains stable with altcoins rotating, BGB may soon break through the $2.30 resistance, especially with significant positive news and strong data. This could push BGB to reach new heights in the near future.
BGB’s Strong Fundamental Support and Substantial Holding Returns:
- Bitget’s Strong Growth Fundamentals:
- On November 13, Bitget’s 24-hour derivatives trading volume reached $77 billion, second only to Binance.
- According to Data.ai, the Bitget app was downloaded 1.92 million times in October, ranking third globally for centralized exchange app downloads, behind only Binance and OKX.
- Similarweb data reveals that Bitget’s monthly visits in October were 22.11 million, a 266% increase compared to 6.04 million in October of the previous year.
- Intensive Launchpool Activity:
- Since September, Bitget has conducted up to ten Launchpools, including ORDER, CEC, MAK, WAT, CATS, PUFFER, CROS, X, SWELL, and PEAQ. Except for MAK, WAT, and X, all of these Launchpools have BGB Pools. Each Launchpool lasts around seven days, meaning Bitget’s Launchpools have provided sustained high APR returns for BGB holders since September.
- Recently, Bitget Launchpools have delivered impressive results. The prices of CROS, SWELL, and PEAQ far exceeded market expectations, with community feedback on the BGB Pool APR being overwhelmingly positive.
- The recently concluded Launchpool for Zircuit (ZRC), supported by top VCs like Binance Labs, Pantera Capital, and Dragonfly, further proves Bitget’s growing market position and bargaining power with project teams.
Ryan Lee, Chief Analyst at Bitget Research
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