ORDI Soars: Bullish Momentum Points to Further Gains – Can It Break Through Key Resistance Levels?

The recent price action for $ORDI on the 4-hour chart has shown a strong upward trend. The closing prices have incrementally risen from $56.97 to $62.28. This steady increase highlights bullish momentum in the market, suggesting a sustained interest from buyers. 

The 9 EMA has been trending upwards, moving from $56.857 to $59.476, which aligns closely with the closing prices and supports the notion of a bullish market. Similarly, the 20 EMA has risen from $54.471 to $56.655, though it lags behind the 9 EMA as expected. The crossover of the 9 EMA above the 20 EMA further reinforces the bullish trend, indicating strong upward momentum.

The MACD values also depict a bullish outlook. The MACD line has risen from 2.839 to 3.239, consistently staying above the signal line, which moved from 2.733 to 2.926. Meanwhile, the histogram values have shown positive readings, peaking at 0.313, which reflects increasing bullish momentum and potential further gains in price.

The RSI has been persistently high, ranging from 63.64 to 74.26. This indicates that the asset is in overbought territory, suggesting strong buying pressure. While high RSI values often precede pullbacks, they can also signal continued bullish strength if the trend remains strong.

The immediate resistance levels to watch are $63.767, $64.342, and $66.761. A break above these levels could signal a continuation of the bullish trend. On the downside, key support levels include $61.849, $61.622, and $61.506. Holding above these support levels is crucial for maintaining the current bullish outlook. #ORDI #altcoins #TrendingPrediction #BullorBear
The full analysis and trade strategy were originally posted on ecoinimist.com.