SATSUSDT dropped below the 9 and 20 Exponential Moving Average (EMA) lines on its 4-hour chart over the past 24 hours. Should this bearish momentum continue, the altcoin may soon retest the immediate support level at $0.0000004505. Once at this level, SATS will either rebound and begin climbing to $0.0000005420 in the following couple of days, or will fall below the mark towards the $0.0000004025 support.In the event that the SATS price falls to $0.0000004025, investors will want to pay close attention to how the crypto’s price behaves around this support. Falling below this significant price point may put the altcoin at risk of plummeting to as low as $0.0000003505 in the following couple of days.
A bullish play may, however, still be in play for as long as the SATS price remains above this level, as any rebound above this level will result in SATS printing a higher low. This could ultimately lead to the altcoin rising towards the $0.0000005420 barrier in the short to medium-term.
Traders and investors will want to note that the 9 EMA line on the 4-hour chart has crossed below the 20 EMA line. This specific technical occurrence suggests that the SATS price has entered into a short-term bearish cycle, and may subsequently retrace in the upcoming 24-48 hours.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.