The SATS price dropped more than 2% over the past 24 hours to trade at $0.0000004902 at press time as investors engage in some profit-taking.
The SATS Price Rebounds From Support
4-hour chart for SATS/USDT (Source: TradingView)
The SATS price rebounded off of the $0.0000004505 support level earlier in today’s trading session. Should the altcoin continue rising, it may soon flip the $0.0000005420 resistance level into support. This could then lead to SATS rising more than 21% in the coming few days.
This bullish thesis may be invalidated if the SATS price drops below the $0.0000004505 support level in the next 24 hours. In this alternative scenario, the crypto may retest the $0.0000004025 mark. A bullish move may still take place as long as the SATS price remains above this level. However, a drop below this key support may be followed by SATS dropping to $0.0000003505.
Traders and investors will want to note that both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) indicators on the 4-hour chart are flagging bullish. The MACD line is looking to cross above the MACD Signal line, which may signal that the SATS price has entered into a positive trend. In addition to this, the RSI line is attempting to cross above its Simple Moving Average (SMA) line.
These two lines intersecting in the next 24 hours may suggest that buyers have gained an upper hand against sellers. This could subsequently lead to the SATS price rising towards the $0.0000006535 mark in the short term.
The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Ecoinimist is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
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