Bitcoin (BTC), Ordi (ORDI), and SATS (1000SATS) Crypto Tokens Price Analysis and Short-Term Price Targets
- WBOYOriginal
- 2024-07-26 18:00:17324browse
The cryptocurrency market has recorded a significant rise in price volatility, highlighting an increase in the price action.
The cryptocurrency market has shown signs of recovery over the past few hours, especially after the BTC price surged past the upper boundary of a descending channel, indicating the beginning of a new bullish trend.
As reported by Star Crypto previously, the market leader's price action has been closely watched by traders and investors throughout the past few weeks. Moreover, as the BTC price finally surged past the upper channel, it has added approximately $7,500 to its trading price, showcasing a 12% gain.
With this price surge, the Bitcoin price now trades at $67,640, highlighting a crucial support level of $66,726 and a resistance level of $73,750.07, which it will test in the coming time.
On the other hand, the BTC price also adds to its past 30-day rally of 8.92%, showcasing a massive gain in its YTD (Year-to-Date) price, which currently stands at 58.61%.
Furthermore, if we look at a larger time frame, such as the 1D time frame, the technical indicator MACD displays a constant decline in its averages, which showcases a neutral trend. However, its histogram displays a bullish action, which adds to the mixed sentiment for the BTC price in the coming hours.
As the BTC price continues to gain momentum, it now trades within a bullish range, which is highlighted by the technical indicator RSI. Moreover, as we can see on the price chart, the RSI displays a bullish trend, indicating a bullish sentiment among traders.
However, if the market fails to sustain the BTC price above its crucial support level, we might see a trend reversal, which could pull the Bitcoin price toward its lower support level of $60,178.50 before continuing its bearish momentum.
The above is the detailed content of Bitcoin (BTC), Ordi (ORDI), and SATS (1000SATS) Crypto Tokens Price Analysis and Short-Term Price Targets. For more information, please follow other related articles on the PHP Chinese website!