BRC-20 Tokens Soar: SATS and ORDI Eye 2024 Profits

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In the last few months, the prices of many cryptocurrencies have been going up and down a lot. Some of the big tokens gained a lot of value. But interestingly, BRC-20 tokens, which are not talked about as much, have been doing really well.

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While everyone was focused on famous tokens and the risky categories like Memecoins, DeFi, and the Metaverse, BRC-20 tokens quietly outperformed everything, multiplying their value just in this month.

ORDI Price Analysis: Trading Range and Potential Scenarios

The ORDI token has been trading within a narrow range, fluctuating between $18.550 and $23.618 for more than three weeks. Despite a positive start in December with a massive 265% surge in the first week, the price faced rejection at $67.723.

Following the rejection, ORDI entered a consolidation phase, moving between $44.575 and $55.536 for over a week. Recent attempts to break the key resistance at $67.723 resulted in a short-lived rally, leading to a pullback.

TradingView: ORDI/USDT

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The Moving Average Convergence Divergence (MACD) highlights increased selling pressure, with a rising red histogram and declining averages, indicating a potential continued decline in price.

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Bulls have an opportunity to regain control by pushing the price above $55.536, setting the stage for a test of the upper resistance at $67.723 in the coming days.

On the downside, a failure to hold above the crucial support at $44.575 may lead to further declines, testing the lower support level at $33.689 in the near future.

SATS Price Analysis: Similar Patterns and Potential Movements

The SATS token has mirrored the price action of the ORDI token, trading within a narrow range of $0.0000001898 to $0.0000002689 before experiencing a loss of bullish momentum.

Following this, SATS moved between $0.0000001218 and $0.0000001898 for over two weeks. A breakout occurred as bulls gained strength, but the token continued trading within a range of $0.0000001898 to $0.0000002689 for about ten days.

Despite a notable 400% surge within a week, the price faced rejection, leading to a correction of over 25%. The MACD indicator signals a strong bearish influence, with a sharp rise in the red histogram and bearish convergence in the averages, indicating a potential significant correction.

TradingView: SATS/USDT

Bulls have an opportunity to regain control by maintaining the price above the support at $0.0000007014, setting the stage for a test of the resistance level at $0.0000009428 in the coming days.

However, if bears persist, the SATS token price may see further declines, targeting the support level of $0.0000005521 this month.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.


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