The cryptocurrency market has recorded constant price fluctuations during the past months as major tokens have added significant value to their respective portfolios. Further, the BRC-20 tokens have gained massive traction as the top tokens of its category have displayed a notable run recently.
As the crypto industry was constantly discussing the elite tokens and highly volatile categories such as the Memecoins, DeFi, and the Metaverse, BRC-20 tokens, on the other hand, outperformed the entire crypto space by multiplying their value within this month.
ORDI Price Analysis:
The ORDI price traded in a closed range between $18.550 and $23.618 for over three weeks. December started positively as the price recorded a massive jump of over 265% within the first week of the month, following which it faced rejection at $67.723.
After this, the ORDI token traded in a consolidated range between $44.575 and $55.536 for over a week. Recently, the token had attempted to break out of its key resistance level at $67.723, but the rally was short-lived as it faced rejection and recorded a pullback.
The Moving Average Convergence Divergence (MACD) displays a rising red histogram, indicating an increased selling-over-buying pressure in the market. Further, the averages show a constant decline, suggesting the price will continue losing value in the coming days.
If the bulls push the price above the resistance level of $55.536, the ORDI price will regain momentum and prepare to test its upper resistance level of $67.723 in the coming days.
Conversely, if the market fails to hold the price above the crucial support level of $44.575, it will plunge further and test its lower support level of $33.689 in the coming time.
SATS Price Analysis:
The SATS price displayed a similar price action to the ORDI token. The price traded in a narrow space between $0.0000001898 and $0.0000002689 for a while, after which the bulls lost momentum, resulting in a price drop.
Following this, the price traded between $0.0000001218 and $0.0000001898 for over two weeks. As the bull gained momentum, the token broke out of the resistance level but continued trading between $0.0000001898 and $0.0000002689 for about ten days.
After this, the price gained momentum and jumped approximately 400% within a week, following which it faced rejection. Since then, the price has been trading under a bearish influence and has recorded a correction of over 25%.
The technical indicator, MACD, displays a sharp rise in the red histogram, indicating a strong bearish influence over the market. Moreover, the averages show a bearish convergence, suggesting the price may experience a significant correction in the coming time.
If the bulls hold the price above the support level of $0.0000007014, the SATS price will regain momentum and prepare to test its resistance level of $0.0000009428 in the coming days.
Conversely, if the bears continue to dominate the market, the SATS token price will plunge further and prepare to test its support level of $0.0000005521 this month.
