The post Top BRC-20 Altcoins Continue Bleeding! Will Ordinal Tokens Surge Post-Halving? appeared first on Coinpedia Fintech News
With the market-wide correction in the crypto industry, the market leader, Bitcoin price has lost approximately 8% within the past seven days. This resulted in the top BRC-20 tokens recording massive corrections in their respective portfolios.
Furthermore, top ordinal tokens such as ORDI and SATS prices have each displayed a significant loss of 39% and 42% in their respective portfolios over the past week, highlighting increased selling-over-buying pressure in the cryptocurrency industry.
Ordi (ORDI):
The Ordi price displayed constant volatility in its chart by trading in a consolidated range between $50.67 and $84.50 since February. However, the market lost momentum following the ongoing market turmoil, resulting in the ORDI token breaking down its crucial support level at $50.675.
TradingView: ORDI/USDT
At the time of writing, the trading price of an ORDI token was $43.716 with a loss of approximately 40% within the past seven days. Further, the ORDI price has a YTD of -49.95%, indicating a rising disinterest of investors in this category.
The MACD shows a constant red histogram with the averages displaying a constant drop in the chart. Moreover, the EMA 50-day shows a bearish convergence, suggesting a negative price action for the altcoin in the coming time.
If the market regains momentum post-Bitcoin Halving, the Ordi price will prepare to test its upper resistance level of $73.175 during the upcoming months. Conversely, bearish price action may result in the price of Ordi crypto plunging toward its low of $28.
PUPS (Ordinals):
The PUPS token recorded a massive surge of over 1,000% in valuation following its launch. However, after recording an all-time high (ATH) of $452.66 on 09th April, the bulls lost momentum, resulting in the price recording a correction of approximately 85% in its portfolio.
TradingView: PUPS/USDT
Since then, the PUPS (Ordinals) price has been displaying a neutral by trading in a closed range between $55.50 and $67.
The technical indicator, MACD, displays a constant decline in the chart with its averages showing a sideways trend. Moreover, the EMA 50-day shows a bearish curve in the 30m time frame, suggesting uncertainty in the future price action of this altcoin.
If the market pushes the price above its resistance level of $67, the bulls will regain momentum and prepare to test its upper resistance level of $93 this month. Negatively, if the bears continue to dominate the market, the price will plunge toward its low of $44.
Bitcoin Wizards (WZRD):
The Bitcoin Wizards is an Ordinal NFT project created by the Mavensbot. This project was launched for the 10th-anniversary celebration of Magic Internet Money, which is considered the most iconic ad ever made that was used to promote the Bitcoin subreddit in 2013.
At the time of writing, the price of one WZRD token was $9.07, with a 24-hour volume of $10.41 Million and a market capitalization of $190.58 Million. Furthermore, the altcoin has a maximum supply of 21 Million WZRD tokens.
The WZRD price has recorded a low of $0.00522 on 14th April and an all-time high (ATH) of $197.75 on 15th April making it highly volatile in nature as it has recorded multiple massive pumps and dumps in its portfolio within the past week.