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What does the future hold for the 2 major BRC-20 tokens now that BTC price has hit $67,000?
The cryptocurrency market has seen a significant increase in price volatility, highlighting an increase in price action. Additionally, major crypto tokens have added significant valuations to their respective portfolios, indicating a positive outlook in the near future.
On the other hand, following the Bitcoin price surge, major BRC-20 tokens have seen similar price action adding massive valuations to their portfolios in a short period. With the rising bullish sentiment, is the cryptocurrency market heading towards a new all-time high (ATH)?
Read on as in this article we have covered the market sentiment, price analysis and possible short-term price targets of the crypto tokens Bitcoin, Ordi and SATS.
Bitcoin (BTC) Price Action:
The market leader, Bitcoin Price continues to gain momentum adding about 5% to its portfolio in the last day with a trading volume of $35.40 billion. It is also up 8.92% in the last 30 days and has a Year-to-Date (YTD) return of 58.61%.
The MACD technical indicator is showing a steady decline in its 1D time frame with its averages recording a neutral trend. However, the RSI is showing a bullish action, highlighting mixed sentiment for the market leader in the cryptocurrency space.
If the market holds the BTC price above its support level of $66,726, Star Crypto will prepare to test its upper high of $73,750.07 in the near future. However, a reversal in the trend could push the Bitcoin price towards its low of $60,178.50.
Ordi (ORDI) Price Analysis:
Amidst increasing price volatility in the cryptocurrency market, ORDER Price has increased by 10.82% in the last 24 hours and by 4.06% in the last week. With a trading price of $38.39 and a market capitalization of $807.041 million, it has secured the 83rd position in the global cryptocurrency list.
The Moving Average Convergence Divergence (MACD) shows a steady decline in the green histogram. Also, its averages show a high possibility of bearish convergence. However, its SMA has recorded a positive crossover, suggesting uncertainty in future price action.
If the market pushes ORDI price above its $39.75 level, it will prepare to test its upper resistance level of $50.75. On the negative side, a bearish action could push the price towards its crucial support level of $28.25.
SATS (1000SATS) Price Action:
Following the footsteps, SATS price has seen a similar price action adding 17.40% in the last day and 20.54% in the last seven days. Furthermore, with a surge of around 90%, SATS cryptocurrency has secured the 95th position with a market cap of $694.025 million.
The Relative Strength Index (RSI) has shown a sharp rise towards its overbought range, indicating increased buying-selling pressure in the cryptocurrency space. Additionally, the SMA indicator has recorded a bullish crossover, suggesting a positive outlook for the altcoin in the near future.
If the bulls continue to gain power, SATS price will prepare to test its upper resistance level of $0.00000015510. However, if the bears overpower the bulls, SATS price will crash towards its crucial support level of $0.0000001225.