- Bitgert has formed two classic bullish candles on the daily chart.
- The crypto engineering token rallied 40% in 2 days to test a crucial level.
- The bullish momentum comes amid plans by Q-Bitgert to launch EVs in the UAE.
Cryptocurrency investors are paying close attention to Bitgert after it formed two classic bullish candles on the daily chart. In the past two days, the token for the crypto engineering project rallied significantly, gaining almost 40% in value. With the recent rally, Bitgert’s price moved into a crucial region that could determine the next phase of price development.
Bitgert bounced from a local low of $0.00000027 after repeatedly closing lower than its daily opening price for an entire week. Surprisingly, just after the next two trading days, it recovered from the previous week’s losses. The latest rally moved Bitgert into an area of multiple resistance with the potential of a significant impact on the price.
The $0.000000367 price level became a resistance after Bitgert broke below it on its way down on May 1, 2023. That level was previous support that the price respected over a long period. A few days after breaking below it, the bulls attempted to push the price back up, but the bears resisted.
The resistance from the bears was significant and pushed the price down to $0.00000027. The bulls seem to have rebounded with some momentum, with the price looking like it will break above the resistance level this time.
The bullish momentum comes amid news that Q-Bitgert, an electric vehicle (EV) company backed by Bitgert, is planning to launch its first EV model in the UAE. The announcement has created a positive vibe among the Bitgert community, with 67.1% of respondents indicating interest in attending the launch as of the time of writing.
Bitgert is the native crypto for Bitgert, a crypto engineering project specializing in blockchain products and auditing solutions. Bitgert allows investors in the Bitgert project to earn rewards in BUSD when they stake their tokens.
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