Bitget is preparing to take legal action against eight accounts accused of manipulating its VOXEL market, allegedly pocketing $20 million through abnormal trading activity. The incident unfolded on April 20, when VOXEL, a relatively unknown token, suddenly surged over 500% in price, raising red flags across the platform. Bitget responded by freezing suspicious trades and launching an investigation, promising to return all recovered funds to users via an airdrop. While a full report is still pending, Bitget’s swift move underscores the growing wave of security breaches shaking the crypto world in recent weeks.
The fallout from the VOXEL incident seems to have spilled over into the BGB native token’s BGB price action, adding a layer of caution to trader sentiment. As questions around platform security linger, BGB’s movements turned choppier, reflecting a market feeling out its next steps. Let’s dive into the latest BGB price structure and see how the technicals are shaping up amid this backdrop.
BGB Price Analysis of 28th April, 2025
The BGB price action on a 5-minute chart from April 27th opened with a clear bearish sentiment, as sellers steadily pushed the coin into a mild downtrend channel. Prices weakened to $4.40 by around 01:55 UTC, reflecting persistent overhead pressure. During the 00:00 to 03:00 UTC window, Bitget token attempted minor recoveries but stayed capped within a tight trading range between $4.38 and $4.41, showing weakening momentum. The RSI oscillated close to neutral with brief dips into oversold zones. At the same time, MACD signals indicated low bullish strength despite intermittent golden crosses, suggesting a fragile sentiment underpinned by modest buy attempts.
Chart 1, Analyzed by Alokkp0608, published on April 28th, 2025.
From 03:00 to 06:00 UTC, BGB price maintained its range-bound behavior until a sudden sharp drop to $4.34 around 10:35 UTC triggered a volatility spike. Although the drop was severe, the coin quickly recovered by 11:00 UTC, snapping back above $4.38. The RSI moved sharply from oversold to mid-50s territory, while MACD lines briefly tightened, hinting at the spike’s reactionary momentum rather than BGB market trend reversing. Notably, Bitget token failed to sustain gains beyond the $4.41-$4.42 resistance area, reinforcing the sellers’ control during this interval.
Between 06:00 and 18:00 UTC, the BGB price hovered under its resistance level, consolidating into a range with frequent false breakouts. Despite minor bullish attempts, RSI readings remained suppressed below the overbought line, and MACD momentum waned, setting up for a larger move. As April 28th began, BGB plunged sharply into a steep descending channel, breaching the key support zone at $4.30 and touching lows around $4.25. The 18:00–03:00 UTC window witnessed continuous RSI oversold signals, and a death cross in MACD during this period confirmed the sellers’ dominance.
BGB Price Outlook: What Lies Ahead for Bitget Token?
From 03:00 to 06:00 UTC on April 28th, the BGB price recovered from the oversold zone. Following testing of $4.25, prices rebounded and were back above the $4.30 support level by approximately 03:20 UTC. While prices were recovering, momentum indicators were also changing. The MACD signaled a golden cross, and the RSI is now back above 50, suggesting short-term reversal signals were in play. Nonetheless, the broader structure remains unstable with the price still struggling to break convincingly above $4.32. BGB must sustain momentum above $4.32 to target $4.38-$4.41 again, or a retest of the $4.28-$4.25 support zone could unfold soon.
BGB Attempts a Recovery, but Caution Still Dominates
Bitget token is trying to find footing after reclaiming the $4.30 support level, but the price action still looks hesitant. Bulls need to clear the $4.32–$4.38 resistance zone with conviction to spark a more decisive move higher. Right now, RSI is hovering just above 50, and a fresh MACD golden cross suggests momentum is turning, but not decisively. If buyers fail to step up soon, another slip back toward $4.28 or even $4.25 could unfold. Adding to the uncertainty, Bitget’s ongoing fallout from the VOXEL incident keeps sentiment fragile across the platform. For now, BGB shows some early promise, but without a strong push above $4.38, the broader BGB market trend remains vulnerable to more downside pressure.
BGB Price Analysis of April 30th, 2025
The BGB price action on a 5-minute chart on April 29, 2025, exhibits early consolidation followed by a sharp directional shift. Between 00:00 UTC and 12:45 UTC, the Bitget token oscillated in a narrow sideways channel, bounded between $4.44 resistance and $4.40 support. Despite a bullish undertone carried over from the previous day, attempts to break above $4.44 failed repeatedly. RSI touched overbought territory briefly during early morning surges but fell back under 60, reflecting waning momentum. MACD formed back-to-back death crosses near 06:00 and 09:30 UTC, undermining bullish conviction and foreshadowing the eventual downside move later in the session.
Chart 2, Analyzed by Alokkp0608, published on April 30th, 2025.
By 13:00 UTC, BGB price slipped into a descending pattern, breaking out of the previous consolidation zone and initiating a bearish channel. From 13:00 UTC to around 23:10 UTC, the price trended lower from $4.40 to a session low near $4.366, marking a breakdown of previous intraday support. RSI dipped multiple times below 30, highlighting repeated oversold stretches and suggesting buyer hesitation. Meanwhile, MACD showed limited momentum recovery, crossing bearishly around 15:30 UTC and again at 21:00 UTC. The repeated inability to sustain rebounds pointed to mounting sell pressure. This bearish bias remained until the price approached the defined support region around $4.366.
Bullish Reversal Attempts Gain Ground as Indicators Improve
Between 23:20 UTC and 03:00 UTC on April 30, BGB price reversed direction and began carving out a bullish recovery. A rebound from the $4.366 support kicked off a gradual uptrend, with price steadily climbing within a rising channel. This reversal was reinforced by a golden cross on the MACD near 23:30 UTC, followed by another just before 03:00 UTC. RSI recovered from oversold levels, rising above 50 for the first time since midday April 29, indicating momentum was shifting in favor of buyers. The consistently higher lows and higher highs through this stretch marked an apparent structure change from the earlier bearish leg.
The BGB recovery extended between 03:00 UTC and 06:00 UTC as the price touched an intraday high of $4.40, retesting the lower boundary of the earlier trading range. However, the BGB breakout lacked strength, and the price failed to hold above $4.40. RSI briefly touched overbought territory near 70 before retreating to mid-50s, while MACD momentum showed early signs of divergence, with the histogram flattening despite a golden cross setup. This combination hinted at temporary exhaustion. The resistance near $4.40 again proved sticky, with selling pressure increasing on each push upward.
BGB Price Outlook – What’s Next for Bitget Token?
After 06:00 UTC, Bitget token entered another sideways consolidation phase, between $4.38 and $4.40. While the overall structure remained above the recovery trendline, momentum slowed. RSI ranged between 50 and 60, showing indecision and lacking directional strength. MACD flipped bearishly around 07:45 UTC but quickly attempted a bullish crossover again by 09:00 UTC. This choppy momentum behavior reflects market uncertainty. Although no clear breakdown occurred, the price showed reluctance to retest the $4.44 resistance seen during the previous day’s highs, indicating potential for a pause or deeper pullback ahead.
BGB Recovery at Crossroads
The BGB price remains vulnerable beneath the $4.40 ceiling, where repeated resistance has capped bullish rallies. Momentum indicators are mixed, RSI is hovering around 55, suggesting modest strength but not conviction. MACD’s golden cross near the chart’s end is yet to show real momentum acceleration, hinting at a fragile uptrend. Bulls remain in the game as long as price holds above $4.366, but a failure to breach $4.44 could trap price in a tighter range. A confirmed move above $4.44 opens $4.47 next, while a breakdown below $4.366 exposes $4.34. Momentum is cautiously bullish but lacks force for a breakout unless supported by volume and follow-through.
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