BGB price rises 14%, eyes new ATH amid investor doubts

BGB is up 14% in the last 24 hours despite a sharp correction at the end of December 2024, showing resistance to the price action.

This increase reflects the cryptocurrency's attempt to recover and create a new all-time high (ATH). However, investor sentiment is still in doubt, which casts doubt on the altcoin's long-term recovery prospects.

BGB owners are carriers.

Market sentiment around BGB turned negative for the first time since mid-November, indicating caution among investors. Sentiment, a key gauge, shows growing skepticism as many traders question the sustainability of BGB's recovery. This negativity was followed by a correction in December, which affected confidence among owners.

This pessimism has been reinforced by the lack of optimism among long-term investors. Significant price volatility has clouded hopes of a quick recovery, making market participants wary of committing more capital. For BGB to regain investor confidence, a clear signal of continued bullish activity is essential.

Although doubts are growing, technical indicators suggest that the bearish trend may be coming to an end. The Moving Average Convergence Divergence (MACD) indicator shows signs of a bullish crossover. If confirmed, this could signal a change in momentum, reigniting BGB buying interest.

A higher breakout on the MACD is critical for BGB to sustain its current recovery. The renewed momentum gives the altcoin the foundation it needs to move closer to breaking the ATH. Without this, the uncertainty in the market may continue to weigh heavily on the price.

BGB Price Prediction: Creating a new ATH

BGB price has risen 14% in the last 24 hours, reaching $7.22 after successfully forming support at $5.73. This rapid recovery reflects the altcoin's ability to attract short-term interest, but further growth depends on overcoming key resistance levels.

BGB needs to surpass the current high of $8.49 to reach a new ATH. Achieving this milestone would require an 18 percent price increase from current levels. However, mixed signals in the market can present challenges, at which point resistance can test the investor's resolve.

If broader market signals turn dovish or investors choose to take profits, BGB price could fall below the $5.73 support. A fall to $4.90 will destroy the bearish outlook, raising concerns about the altcoin continuing its recovery efforts.