, and positive technical indicators suggest the potential for further gains in SATS Price.){kind=link}
- The SATS token price has witnessed higher short liquidations in the last few days.
- The SATS token price volatility was very high.
In the last one year, the SATS token price had declined by 48%. In contrast, in the last 24 hours, the token had witnessed an advance of 22% in its market cap. That led to a market cap of $662.75 Million.
How is the SATS Token Price Performing at Press Time?
When writing, SATS was the 86th-ranked cryptocurrency globally, with a market cap dominance of 0.03%. The token’s trading volume increased by 155% over the last 24 hours.
Its traded volume value in the last 24 hours was $259.819M, and its volume/market cap ratio of 39.01% indicated huge liquidity.
The token had 100% of its maximum supply in circulation, resulting in 2.1 Trillion SATS. Also, the crypto’s total and maximum supply has been the same. So, the token’s fully diluted market cap was similar to the spot market cap.
SATS has a high supply inflation, and its sentiment was bullish at press time. The Fear and Greed Index for the crypto was at 31, indicating fear. Its volatility was high at 12.67%.
SATS Token Derivatives Data Analysis
Huge short liquidation in the SATS token showed the profit booking by the sellers in the crypto.
The long liquidation recorded in the last 24 hours was worth $985.08K. Also, the long liquidation for the crypto was $373.68K, further showing sellers’ pessimism.
The open interest of the SATS had advanced by 76% in the last 24 hours, following which the trading volume also witnessed a surge of 162%. This further resulted in a traded value of $831.51M for derivatives volume.
SATS Token Technical Analysis
The 1000SATS token has recently exhibited bullish behavior, breaking above its most recent swing low. This breakout signals a potential shift in market sentiment as the token gains traction among traders and investors.
Previously, the token’s price had declined from a swing high of $0.0008095, leading to a lower low swing on the chart. This downward movement created a dynamic falling wedge pattern. It is a formation often associated with potential bullish reversals.
As of the most recent price action, the SATS price has successfully broken out of the falling wedge pattern with strong momentum. It has advanced by 45% since the breakout.
This significant upward movement indicated a renewed interest in the token. It suggested the possibility of further gains if the momentum is sustained.
SATS Token Technical Indicator Analysis
The Supertrend indicator recently signaled a bullish shift on the chart, marking a potential upward momentum for the asset.
SATS/USD Chart by TradingView
Following that, the 20-day and 50-day Exponential Moving Averages (EMAs) formed a golden cross, a pattern often seen as a strong bullish indicator in technical analysis.
Additionally, the MACD (Moving Average Convergence Divergence) metrics advanced above the zero line, reinforcing the bullish trajectory.
Meanwhile, the RSI also closed above the 14-day Simple Moving Average (SMA). It has consistently remained above the 50 level, further supporting the positive outlook.
The 1000SATS token price took support at the levels of $0.000110 and $0.000150. The resistance levels for the token price would be $0.000540 and $0.000730.
Disclaimer
This article is for informational purposes only and does not provide any 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.
