Bitget Moves 440 Million BGB Tokens to Support Morph L2 Chain
Bitget's Token Transfer: Bitget is transferring 440 million BGB tokens to the Morph Foundation, which will use them as the gas and governance token for the new Morph Chain, including a one-time burn of 220 million tokens and a monthly release of the remaining tokens to support ecosystem growth.
BGB's New Role: The initiative aims to enhance BGB's utility beyond the exchange by linking its burn mechanism to network activity and integrating Bitget's infrastructure with Morph, providing developers access to a user base of over 120 million and positioning BGB as a key player in onchain consumer finance.
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Technical Analysis for
Technical Sentiment Analysis for (). As of , () is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 0 technical signals, shows that 0 indicators are flashing buy, while 0 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
() Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | - | - | - | - | - | - | - |
| Fibonacci | - | - | - | - | - | - | - |
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