Published
1 month ago on
April 11, 2024
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SATS (1000SATS), a popular BRC-20 token that pays homage to Satoshi, has seen a 4% price increase in the last 24 hours.
With a market cap of just over $1 billion, 1000SATS is the second-largest BRC-20 token, sitting right after ORDI, which also pumped over the same period alongside the wider BRC-20 ecosystem seeing an uptick in trading volume today.
SATS token was listed on Binance in December 2023.
Top BRC-20 Tokens on CoinMarketCap
The SATS price pumped from $0.000463 yesterday, April 10, to a resistance at $0.00050 earlier today. However, for now, the resistance prevented the popular satoshi-themed token from progressing, keeping its value below it.
SATS token saw an even greater increase earlier this week, which managed to take its price up to $0.00053. However, the price then corrected on April 9, dropping to $0.00045, only to recover once again on the last day.
SATS Price Prediction
While the SATS price saw a considerable price surge, the BRC-20 token has since started seeing a correction, and different technical indicators confirm that the retracement is likely to continue.
The SATS Relative Strength Index (RSI), for example, shows a sharp drop in value which went from 70 to the current 41.15. In other words, traders have decided to take profit once SATS approached the overbought zone, which sent RSI spiraling down to the neutral zone.
However, it appears that the selling pressure is continuing to grow, and the RSI value is now moving into the oversold area.
TradingView: 1000SATS/USDT 30-Minute Price Chart
Other indicators, such as the oscillators and the moving averages also suggest that it is time to sell 1000SATS, with most of the indicators still being in neutral position, although suggesting that their values will continue to drop in time.
Even the SATS Bollinger bands recently started to narrow, further adding to the same conclusion. The 1000SATS price already reflects this, as the correction has started, and SATS is now dropping toward its previous support at $0.00045.
However, traders may move in to buy the dip once the price drop slows down, which might yet turn things around. But, this is only likely to happen if larger cryptos, such as Bitcoin itself start seeing a shift in sentiment.
New BRC-20 Tokens With High Potential
The BRC-20 sector is about to receive a new and rather interesting cryptocurrency known as 99Bitcoins (99BTC).
The upcoming BRC-20 crypto is being launched by a popular 99Bitcoins platform, which has long been posting crypto-related news and educational content since 2013.
Now, the platform is also launching its native cryptocurrency in the form of a Learn-To-Earn token, which will allow individuals to receive rewards in exchange for learning about the crypto market.
The project believes that educating people with rewards as an incentive will empower more individuals and encourage others to join the crypto market.
On top of that, it will also allow users to stake their tokens and receive passive rewards as they learn more about the industry. So far, the project has only spent one day in presale, but it has already raised over $120,000 while selling its token, 99BTC, for only $0.001 per unit.
Currently investors can buy 99BTC with USDT, ETH, BNB, or with their credit and debit cards.
Find this upcoming BRC-20 token’s Twitter account at @99BitcoinsHQ and join its Telegram community at t.me/Official_99_Bitcoins.
Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
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