The BRC-20 tokens have displayed significant price volatility in their respective values briefly, indicating a mixed sentiment in the crypto space. Further, after trading sideways for about a week, top tokens have recorded a significant upswing, highlighting an increase in the bullish influence within the market.
The Bitcoin price has successfully reclaimed its $50,000 mark, resulting in top tokens breaking out of their respective resistance levels. Further, top BRC-20 tokens, ORDI, and SATS price have added 15.75% and 11.67% to their valuation within the past day.
ORDI Price Analysis:
The ORDI price traded in a consolidated range between $66.183 and $78.232 for a brief period, following which the market lost momentum and the ordi token experienced a breakdown in its chart. The Ordi coin price lost over 29% within the next seven days. After testing its bottom of $50.224, the price traded between $50.224 and $60.133 for a while.
After this, the price attempted a breakout but the bulls overpowered the bulls, resulting in a pullback. Recently, the Bulls successfully broke out of the resistance level and traded sideways for a while, following which the Bulls recorded another jump of over 15% within the past day. Moreover, the Cross EMA 50/200-day has recorded a Golden Cross, indicating a bullpower.
The Moving Average Convergence Divergence (MACD) displays a significant rise in the green histogram, highlighting an ongoing massive price action in the industry. Moreover, the averages show a constant rise, suggesting the price will continue gaining value in the coming time.
If the market pushes the price above the resistance level of 70.960, the bulls will continue to gain momentum, and the ORDI price will test its upper resistance level of $78.232. Further, if the market holds the price at that level, it will set the stage for the ORDI token to attempt to test its resistance level of $84.469 in the upcoming weeks.
Negatively, if the bears overpowered the bulls, the Ordi price would lose momentum and fall to test its support level of $66.183. Moreover, if the bears continue to hold power over the bulls, it will plunge and prepare to test its lower support level of $60.133.
SATS Price Analysis:
The Sats price displayed a similar trend and traded in a consolidated range between $0.0000005521 and $0.0000006782 for a brief period, following which the market lost momentum, and the SATS token recorded a loss of approximately 47% in valuation over the next eleven days. However, the bulls held the price strong above the support level of $0.0000003595, resulting in the token experiencing a bounceback in the chart.
The SATS price jumped over 46%. Following this, the price traded sideways between $0.0000004665 and $0.0000005521 for about a week. As the market volatility grew, the SATS coin broke down the support level, traded sideways for ten days, and recorded a breakout during the early trading hours today.
The technical indicator, MACD, displays a rising green histogram, indicating increased buying pressure within the crypto market. Further, the averages show a bullish convergence, suggesting the price will continue gaining value in the coming time.
If the market holds the price above the support level of $0.0000004665, the SATS price will regain momentum and test its resistance level of $0.0000005521 by the weekend. Maintaining the price at that level will set the stage for the SATS price to attempt to test its resistance level of $0.0000006116 in the upcoming weeks.
Conversely, if a trend reversal occurs, the bulls will lose momentum and fall to test its support level of $0.0000004097. Moreover, if the bears continue to dominate the market, it will plunge and prepare to test its lower support level of $0.0000003595 in the coming time.