The Bitcoin price achieved the $63.9K mark last night, indicating a strong bullish influence in the crypto industry. However, the rally was short-lived, and the star crypto recorded a correction of 7% in valuation.
Moreover, the bulls have regained momentum, and the market leader is on the run to test its $63,000 mark, the outcome of which is unpredictable. The BTC price is less than 9% away from its new ATH and is currently trading at a 27-month high.
Impact Of Bitcoin Surge On Ordinals!
With the Bitcoin price rising, the top Orninals tokens have recorded a significant price action in their respective portfolios. Top tokens such as Ordi (ORDI) and SATS (1000SATS) have added over 11% each within 24 hours, highlighting a positive uptrend in the crypto space.
Ordi (ORDI):
After trading under a bearish influence for a while, the Ordi token traded in a closed range between $51.719 and $57.648 for the next few days. Following this, the ORDI price jumped by 16.31%, after which the price traded in a consolidated range between $57.648 and $66.767 for the next few days.
As the market volatility grew, the bulls recorded another jump of 19.73%, following which the price displayed a neutral trend for a while. The bulls struggled to hold the price above the support level, resulting in a price breakdown.
After testing its low of $57.648, the bulls regained momentum and recorded a jump of 35.70% over the next four days. Since then, the price has been trading between $73.176 and $78.232.
The technical indicator, MACD, displays a constant decline in the green histogram, highlighting a cool-off in the price action in the crypto market. Moreover, the averages show a possibility of a bearish convergence, suggesting uncertainty in the future price action.
If the bulls regain power and push the price above the resistance level of $78.232, the ORDI price will attempt to test its upper level of $84.50 in the coming time. Conversely, if the bears overpowered the bulls, the price would lose momentum and fall to test its lower limit of $62.30.
SATS (1000SATS):
The SATS price displayed a bearish trend for the first few days of the month, following which it traded in a closed range for a brief period. After this, the price gained momentum and added over 18% in valuation.
Since then, the SATS price has been trading in a consolidated range between $0.000000456 and $0.000000568 and is on the verge of testing its resistance level, the outcome of which is unpredictable.
The MACD displays a constant green histogram, indicating a strong bullish influence in the crypto space. Further, the averages show a bullish curve, suggesting the price will continue gaining value in the coming time.
If the market holds the price above the resistance level of $0.0000005680, the bulls will regain momentum and prepare to test its upper resistance level of $0.000000780 in the upcoming week. Negatively, a trend reversal would pull back the price toward its support level of $0.0000004564.
