SATS Price Prediction: SATS Could Soar 38% if It Overcomes Current Channel

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The SATS price registered a slight gain in the past 24 hours to trade at $0.0000004018 at press time as traders attempt to resurrect the altcoin’s price.

The SATS Price Claws Itself Back Into a Bearish Channel

4-hour chart for SATS/USDT (Source: TradingView)

The SATS price managed to climb back into a medium-term negative price channel over the past 24 hours after dropping out of the zone. Since reclaiming a position within the channel ,the altcoin has continued to rise, and is currently attempting to break above its middle level. Should SATS close a 4-hour candle above this threshold, it would have flipped the $0.0000004025 resistance, which may give it the foundation needed to rise to $0.0000004505 in the following 48 hours. Thereafter, continued buy pressure could boost the SATS price to as high as $0.0000005420 in the short term. This would constitute around a 34% gain from the crypto’s current price.

However, this bullish thesis may be invalidated if SATS fails to close a 4-hour candle above $0.0000004025 within the next 12 hours. In this alternative scenario, the altcoin may be at risk of retesting the $0.0000003505 support level in the upcoming 2 days.

Technicals Point to a Continued Rise

Technical indicators on the crypto’s 4-hour chart suggest that the SATS price has entered into a short-term bullish trend. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) are flagging in favor of buyers.

The MACD line crossed above the MACD Signal line throughout the past 12 hours. This is a significant bullish technical flag that may signal a continuation of the crypto’s positive trend. In addition to this, the RSI line is positioned above its Simple Moving Average (SMA) line, which indicates that buyers are currently stronger than sellers. Traders will want to keep an eye on the RSI, however, as it is currently sloped towards oversold. This could be an early sign of a bearish trend reversal and demands attention for the coming 24 hours.

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Author

Steven Walgenbach

Steven's passion for cryptocurrency and blockchain technology began in 2014, inspiring him to immerse himself in the field. He notably secured a top 5 world ranking in robotics. While he initially pursued a computer science degree at the University of Texas at Arlington, he chose to pause his studies after two semesters to take a more hands-on approach in advancing cryptocurrency technology. During this period, he actively worked on multiple patents related to cryptocurrency and blockchain. Additionally, Steven has explored various areas of the financial sector, including banking and financial markets, developing prototypes such as fully autonomous trading bots and intuitive interfaces that streamline blockchain integration, among other innovations.

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