The post Bitcoin Halving Impact On Top BRC-20 Tokens! What To Expect This Month? appeared first on Coinpedia Fintech News
The crypto industry completed its 4th Bitcoin Halving on 20th April, initially reducing the mining reward to 3.125 from 6.250. Further, the market leader, Bitcoin price, has displayed an uptrend of just over 3% post-halving.
With this, the market sentiments are constantly rising and are expected to record a new high soon. This could result in the crypto industry experiencing a bull rally within the upcoming months. Is this the right time to invest in BRC-20 tokens to maximize your profits?
Ordi (ORDI):
The Ordi price traded between $50.675 and $84 in a consolidated range for the first three months of the year, during this time, the price recorded significant fluctuation in the chart. However, following the recent price plunge in the crypto industry, the ORDI coin price broke down its crucial support level of $50.675.
TradingView: ORDI/USDT
Positively, the Ordi coin price has jumped approximately 5% post-halving. However, the category leader has recorded a correction of 25.39% within the past seven days, and its Year-to-Date (YTD) stood at -41.83% in valuation at the time of writing.
The technical indicator, MACD, displays a constant decline in the chart, indicating a decrease in the selling pressure within the market with its averages showing a high possibility of a bullish convergence.
If the market pushes the price above the resistance level of $50.675, the bulls will regain momentum and prepare to test its upper resistance level of $73.175 this month. Conversely, bearish price action may pull the price toward its low of $35.
Also Check Out : Will the Impact of Bitcoin Halving Have an Effect on BTC Price? Here’s What You Need to Know
SATS (1000SATS):
The bulls have successfully held the price above its crucial support level of $0.0000002535, resulting in the SATS price experiencing a bullish jump of 6% in value. Moreover, the SMA displays a high possibility of a bullish convergence in the 1D time frame, highlighting a bullish price action this month.
The 1000SATS price recorded a neutral trend by trading in a closed range between $0.0000003845 and $0.0000005510 for the first two months. As the volatility in the market grew, the bulls recorded a jump of 72.50% before facing rejection at its upper level.
TradingView: SATS/USDT
Following this, the bulls lost momentum, erased all their gains, and recorded a YTD loss of approximately 64% in valuation.
The Moving Average Convergence Divergence (MACD) shows a high possibility of a bullish convergence suggesting a bullish outlook for the altcoin in the coming time. Furthermore, its histogram displays a similar trend by recording a constant decline in the chart.
If the bulls regain momentum, the SATS coin price will prepare to test its upper resistance level of $0.000000400. Conversely, if the bears overpowered the bulls, the SATS price would fall to test its support level of $0.0000002535.
PUPS (Ordinals):
The PUPS token had recorded a massive price action by recording an ATH of $452.66 within a few hours of its launch. However, the market lost momentum resulting in this ordinals token recording a correction of 92.66%. This resulted in the PUPS price recording an ATL of $33.09 within 24 hours of its launch.
TradingView: PUPS/USDT
Since then, the price has displayed a constant fluctuation in its chart by trading in a consolidated range between $43.45 and $70.97.
The MACD displays a rising red histogram, highlighting increased selling pressure within the crypto market. Moreover, the averages show a high possibility of a bearish convergence, suggesting a negative price action for the altcoin during the upcoming week.
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If the PUPS price experiences a bullish reversal in the chart, the price may attempt to test its upper resistance level of $90 in the coming time. However, if the bears continue to dominate the market, it will plunge and fall to test its crucial support level of $43.45.