Despite the Bitcoin price being stuck near the $60K support zone, the BRC-20 tokens experienced a short breeze recovery. With this recovery rally, the top BRC-20 tokens tease a trend reversal rally as the altcoin sector heats up.
As the market anticipates the Bitcoin price to rise from the $60K support zone, the ORDI and 1000sats token can experience a price surge. Will the bull run in the ORDI and 1000sats start from this trend reversal?
So, let’s have a closer look at the price analysis of BRC-20 tokens for a deeper understanding.
Will ORDI Reversal Bring Trendline Breakout?
With a pump-and-dump price action in the daily chart, the ORDI price trend reveals a declining trend. The BRC-20 Token shows a solid resistance trendline with solid support at $35.
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Currently, the ORDI price trades at $37, a 60% discount from the all-time high of $96.53 on 5th March 2024. Further, the BRC-20 token shows a bullish recovery from the support zone with an intraday growth of 2.56% following the overnight jump of 3.82%.
With the MACD and signal lines ready for a bullish crossover, the technical indicator reveals a possibility of a trend reversal. Hence, the bullish revival at $35 might shortly test the overhead trendline near $50. Further, a breakout rally could prolong the uptrend to $87.
1000SATS Preps Bull Cycle In A Falling Wedge
With an overall declining trend in the daily chart, the 1000SATS token price action forms a falling wedge. Unlike the healthy price action in ORDI, the 1000SATS token is under extreme supply pressure as it trades near the all-time low levels.
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However, with the recent recovery rally from the descending support trendline, the altcoin teases a trend reversal. Further, the bullish crossover in the MACD and signal lines bolsters the bull cycle possibility.
On the upside, the BRC-20 token can reach the $0.0002369 mark or the overhead trendline. Further, a bullish breakout can prolong the bull run to the $0.000040 supply zone.
