What Does SATS Price Next Move Would Be?
The ace in the list had 18.47% growth this week, where the price traded at $0.0002904.
Earlier, the trend had been a downtrend. In the SATS price, entire trading activity had occurred in a channel, where the past 42 days of price activity had led to the falling wedge's breakout. The breakout was confirmed when the price pierced the upper border after July 15th, 2024.
A recent breakout pullback has been completed, and it was expected before that the price might make a Change of Character (CHoCH) by moving past the 200-day EMA. This could have taken SATS's price to the moon, but instead, the price fell nearly 20% in a mere 3 days, and an intraday dip of 6% has been registered.
Since the price is already above the support of $0.0000002467, the price could still bounce back, but breaking it would change the sentiment.
The SAT price indicators indicated that the bullish optimism has decreased, as the histogram showed decreased interest. Meanwhile, the RSI was at 50.74 and has pierced 14-SMA towards oversold, signifying current developed pessimism against the optimistic breakout in the market.
At press time, the hurdle is $0.0000004478 and $0.0000005867, respectively. However, the resistance could push the price toward the near support at $0.0000002467 and $0.0000001166, respectively.
SATSUSDT.P trade ideas
SATS price overview,recent breakout pullback has been completed
Earlier, the trend had been a downward trend, and in the SATS price, entire trading activity had occurred in a wedge, where the past 45 days of price activity had led to a bullish pattern formation, precisely the falling wedge's breakout. The breakout was confirmed in SAT's price after it had been traded above the upper border after July 15th, 2024.
A recent breakout pullback has been completed, and we are soon to make a Change of Character (CHoCH) by moving past the 200-day EMA. This phenomenon could take the SATS price to the moon. The pullback began this week and surged beyond 120% after taking support from the upper border as support.
Where the SAT's price indicators indicate bullish optimism increased, as MACD has built a bullish cross, where the histogram grew to 59.72. Meanwhile, the RSI was at 59.67 and has bounced back towards overbought, signifying grown optimism in the market.
At press time, the upper border would lead to meet the hurdle at $0.000000447 and $0.000000586, respectively. However, the resistance could push the price toward the near support at $0.000000246, and $0.000000116, respectively.
What's Next In SATS: Moon or Doom?
In the list, SATS stands at third with 14.84% growth in the past seven days; it has a rank of 104th in terms of market cap.
The 24-hour volume stands at 87.82 Million, and the market cap is at $615.02 Million. Meanwhile, the volume to market cap ratio was significantly higher at 15.27%, showed good liquid present, and traders' interest was high.
Despite the optimistic stats, the trend has been downward, where the entire trading activity occurred in a falling wedge, where the price traded near the upper border.
Contingent on buyers, a breakout could take the price to the moon, or the price would dip once more if the upper border deflects yet again.
At press time, it has traded at $0.00000029, and the break of the upper border would lead to meeting the hurdle at $0.00000044, and $0.00000058, respectively. On the contrary, deflection from the upper border will take the price toward the near support at $0.00000024, and $0.00000011, respectively.
