Bankrupt Token trades within a symmetrical triangle, signaling reduced volatility and an impending breakout move.
A breakout above $0.065 could push Bankrupt Token toward $0.08, aligning with previous resistance levels.
Price holds near $0.06222, up 4.04% in 24 hours, with trading volume at $11,036,529.
Bankrupt Token is consolidating within a symmetrical triangle on the daily timeframe, trading near $0.06222 after a 4.04% daily rise. Reduced volatility and converging trendlines suggest an imminent breakout that could define the asset’s next major move.
Symmetrical Triangle Formation Signals Market Compression
Since early May, Bankrupt Token has moved within converging trendlines, forming a symmetrical triangle pattern marked by progressively lower highs and higher lows. The structure began from a swing low of $0.045 in May to a peak of $0.105 later that month.
Price swings have remained contained within the formation, with retracements to $0.048 in June and a rebound to $0.075 in late July. The pattern is accompanied by decreasing trading volume, reflecting reduced volatility and market indecision.
Breakout Levels and Technical Indicators
An imminent near-term violation of the upper trendline at around 0.065 cents may initiate a bullish swing to 0.08 area that reverses early-June resistance. This level could attract momentum traders seeking directional confirmation.
On the negative side, a breakdown of the $0.055 level can result in a retest of the $0.048-$0.045 support region. These two, the 9-day EMA and 50-day SMA at approximately the same level of around 0.059, are moving towards each other and this indicates an imminent inflection point.
Market Performance and Volume Outlook
At the moment of writing, the value of Bankrupt Token is at 0.06222 with the volume of 24 hours trading being 11.036.529. This would beat the previous week that showed an increase of 10.90%. This favors the likelihood to maintain the momentum.
Alpha Crypto Signal noted the pattern in a market update, emphasizing vigilance as the token coils between converging levels. Volume expansion alongside a confirmed breakout will be crucial for validating the next trend direction.