Current Performance: ORDI price demonstrates a bullish double-bottom breakout, currently challenging the $75 mark.
Retest Phase Opportunity: A short-term pullback offers a potential entry point, as ORDI undergoes a retest phase.
Bull Run Potential: Post-retest, there's a strong likelihood of a bullish rally towards the $100 threshold.
Market Context: Despite Bitcoin's stagnant performance, ORDI stands out as a resilient performer, attracting new investor interest.
Resistance Challenge: Key resistance at $80 could lead to a temporary pullback, but the overall bullish trend is intact.
Technical Analysis:
4H Chart Outlook: ORDI's bullish trend is evident, with potential to extend towards $100. However, ascending resistance may limit immediate gains.
Fibonacci Retracement: The 61.80% level is retested, hinting at trend continuation, with a focus on breaking above the resistance trendline.
Current Trading Price: ORDI is trading at $76.41, facing resistance at the overhead trendline.
Technical Indicators:
EMA: Positive alignment in key EMAs, but a pullback might retest the 50 EMA at $67.10.
RSI: Indicates a recovering trend, but bearish divergence calls for cautious optimism.
Future Outlook: ORDI's trajectory is promising, supported by growing interest in BRC-20 tokens. A breakout beyond $100 is plausible, especially if Bitcoin surpasses $45K.
Downside Risks: A potential downturn could see ORDI retesting lower support levels around $60.
Retest Phase Opportunity: A short-term pullback offers a potential entry point, as ORDI undergoes a retest phase.
Bull Run Potential: Post-retest, there's a strong likelihood of a bullish rally towards the $100 threshold.
Market Context: Despite Bitcoin's stagnant performance, ORDI stands out as a resilient performer, attracting new investor interest.
Resistance Challenge: Key resistance at $80 could lead to a temporary pullback, but the overall bullish trend is intact.
Technical Analysis:
4H Chart Outlook: ORDI's bullish trend is evident, with potential to extend towards $100. However, ascending resistance may limit immediate gains.
Fibonacci Retracement: The 61.80% level is retested, hinting at trend continuation, with a focus on breaking above the resistance trendline.
Current Trading Price: ORDI is trading at $76.41, facing resistance at the overhead trendline.
Technical Indicators:
EMA: Positive alignment in key EMAs, but a pullback might retest the 50 EMA at $67.10.
RSI: Indicates a recovering trend, but bearish divergence calls for cautious optimism.
Future Outlook: ORDI's trajectory is promising, supported by growing interest in BRC-20 tokens. A breakout beyond $100 is plausible, especially if Bitcoin surpasses $45K.
Downside Risks: A potential downturn could see ORDI retesting lower support levels around $60.