Date: Sat, Nov 30, 2024, 07:19 AM GMT
The cryptocurrency market continues its bullish momentum, with major altcoins experiencing upside rallies amid declining Bitcoin dominance, which has dropped from 61.53% to 57.30%. Amid this shift, top BRC-20 tokens Ordinals (ORDI) and SATS (1000SATS) are stealing the spotlight, showing significant potential for key breakouts.
Ordinals (ORDI)
ORDI has been climbing steadily since breaking out of its falling wedge pattern at the $31.55 level, a key technical signal of a bullish reversal. The token is now trading at $42 level, just below a crucial resistance zone at $44.75. This level is significant as it could determine whether ORDI extends its rally or faces temporary rejection.
If ORDI successfully breaks through the $44.75 resistance, it could target higher levels at $65.67, $79.63, and $96.69. Meeting these targets could yield gains of up to 130% from its current price. However, traders should watch for strong breakout signals, including increased trading volume, to confirm a sustainable upward move.
SATS (1000SATS)
SATS, on the other hand, is trading at $0.0002729 and approaching the upper resistance trendline of its descending wedge pattern. This technical setup often signals a potential breakout, and for SATS, the critical level to watch is $0.0003160.
A confirmed breakout above $0.0003160 could propel SATS toward its next resistance at $0.0004267, offering a potential upside of 56% from its current price. However, as with ORDI, traders should look for confirmation signals such as sustained price momentum and robust trading activity to validate the breakout.
What to Expect Ahead?
Both ORDI and SATS are trading at pivotal levels. With the recent decline in Bitcoin dominance, these tokens are well-positioned for breakouts that could lead to substantial rallies. Investors should watch the resistance levels closely for confirmation of upward momentum.
Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.