Markets
Best BRC-20 tokens to buy before the bull market begins
Although Bitcoin price remained stuck near the $60,000 support zone, BRC-20 tokens experienced a brief recovery. With this recovery rally, major BRC-20 tokens suggest a turnaround rally as the altcoin sector heats up.
As the market expects the price of Bitcoin to rise from the $60,000 support zone, ORDI and 1000sats tokens may experience a price increase. Will the upward race in ORDI and 1000sat start from this trend reversal?
So, let’s take a closer look at the BRC-20 token price analysis for a deeper understanding.
Will the ORDI reversal lead to trend line breakout?
With pump-and-dump price action on the daily chart, ORDI price action reveals a downtrend. The BRC-20 token displays a solid resistance trendline with solid support at $35.
Currently, the ORDI price is trading at $37, a 60% discount from the all-time high of $96.53 on March 5, 2024. Furthermore, the BRC-20 token shows a bullish recovery from the support zone with an intraday growth of 2.56% following an overnight jump of 3.82%.
With the MACD and signal lines poised for a bullish crossover, the technical indicator reveals the possibility of a trend reversal. Therefore, the bullish revival at $35 may soon test the trend line near $50. Furthermore, a rally could extend the uptrend to $87.
1000SATS sets up the bull cycle into a falling wedge
With an overall downtrend on the daily chart, the price action of 1000SATS token is forming a falling wedge. Unlike the healthy price action in ORDI, 1000SATS token is under extreme supply pressure as it is trading near all-time lows.
However, with the recent recovery from the descending support trend line, the altcoin suggests a trend reversal. Furthermore, the bullish crossover in the MACD and signal lines strengthens the possibility of a bullish cycle.
The bright side is that the BRC-20 token can reach the $0.0002369 mark or the overall trend line. Furthermore, a bullish breakout can extend the bull run towards the $0.000040 supply zone.