SATS Price Analysis: Is It Ready to Shoot Up Soon?

The SATS price recorded an all-time low of $0.000112 on July 5. However, it has shown recovery and has kept rising slowly.

The price of 1000SATS crypto was $0.000379 at the time of writing, showing an increase of 1.98% in the past 24 hours. The digital asset had a market capitalization of $834.22 Million, and the 24-hour trading volume was $229.14 Million, as reported by Coinmarketcap.

The circulating supply of 1000SATS crypto is 2.1t SATS, and the coin has a total supply of 2.1t SATS. Among the total supply of coins in the cryptocurrency market, 1000SATS crypto has diluted 100% of its supply. At the time of writing, the fully diluted market cap was $839.06 Million.

A source on X claimed that the price of SATS crypto is expected to gain around 5x in the next few months. A macro view of the price shows that it has declined, forming lower and lower highs.

$sats Macro view.5x pic.twitter.com/lPmSOdZBGD

However, the sellers have failed to create a new lower-low recently, which is a bullish sign. The price has shown bullish momentum after bearish momentum.

Technical Analysis of SATS Price on Daily Timeframe

The SATS crypto price has broken through a major resistance level, as seen in the chart structure. The price has also crossed the 200-day EMA, indicating strong buying pressure.

If the digital asset price manages to sustain itself above the 200-day EMA, we can expect strong buying momentum. If the buyers remain strong and the chart structure manages to attract investors, it may record a new all-time high.

On the other hand, if the price falls below the 200-day EMA, buyers may panic. If the price falls below the 20-day EMA, buyers at breakout might get trapped. This could lead to heavy selling and, subsequently, liquidation.

SATS Price Analysis: Important Levels to Watch

As per technical indicators, the SATS price has crossed key moving averages, showcasing a bullish outlook.

The MACD and the Signal lines have been trading above the Zero line, which is a positive sign. Even during the pullback, the histograms have remained green.

SATS Price Forecast

The SATS price has shown strong bullish momentum by breaking through a major resistance level and the 200-day EMA. The increasing trading volume and positive technical indicators suggest a potential upward trend.

However, it is crucial to keep an eye on the price movement, especially regarding sustainability above the 200-day EMA and potential price retracements.

The information provided from various sources and technical analysis indicated a positive outlook for SATS.

Still, as with any investment decision, conducting thorough research is crucial. Additionally, it’s necessary to consider all factors before making any financial decisions.

This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.

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