Sats Price Prediction: SATS Plunges 4% After It Gets Rejected by a Negative Trend Line and May Drop

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1. SATS Price Outlook

2. Technicals Warn That SATS Is Entering a Negative Cycle

The SATS price dropped more than 4% over the past 24 hours to trade at $0.0000004557 at press time.

SATS Price Outlook

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

The SATS price was rejected by a negative medium-term trend line in the last 24 hours, resulting in another lower high. However, bulls are trying their utmost best to elevate the altcoin’s price to above this bearish barrier, as evident by the wicks under the latest 4-hour candles. Should buyers continue to scoop up SATS at its current price, the crypto may soon overcome the negative trend line.

This could then open a path for the SATS price to rise to the next major resistance level at $0.0000005420. Continued support from bulls may then lead to SATS flipping the significant barrier into support. In an extremely bullish scenario, the SATS price could rise to as high as $0.0000006535 in the next few days.

This bullish thesis may be invalidated if the SATS price closes a 4-hour candle below $0.0000004505 within the next 24 hours. In this alternative scenario, SATS may drop to the subsequent support at $0.0000004025 in the following couple of days. Losing the support of this key price point may then open up the risk of the SATS price falling to $0.0000003505.

Technicals Warn That SATS Is Entering a Negative Cycle

Technical indicators on the altcoin’s 4-hour chart suggest the SATS price may drop in the short term. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) are flagging bearish.

The MACD line is looking to cross below the MACD Signal line, which could signal that SATS is entering into a short-term bearish trend. Meanwhile, the RSI line is positioned below its Simple Moving Average (SMA) line, which indicates that sellers have a slight advantage over buyers.

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