ORDI/USDT Gearing Up for a Potential Breakout: Key Levels and Future Price Action
Daily Chart
- Current price: $43.01, with a daily gain of 12.09%.
- Trend: The price is climbing above the 7-day and 25-day moving averages (MA), suggesting a possible trend reversal.
- RSI: The RSI is currently at 67.19, approaching overbought levels but still has room to advance, indicating strong buying pressure.
- MACD: Positive MACD value and a bullish crossover signal a continuation of upward momentum.
- Support: Key support level lies around $20.72, a previous significant low.
- Resistance: Resistance is at $44.88. Breaking this level may pave the way for further gains, potentially targeting the previous high at $97.00.
3-Day Chart
- Trend: The price stabilizing and attempting an uptrend after a prolonged downtrend.
- RSI: 73.98, nearing overbought territory, but still indicates positive momentum.
- MACD: MACD is turning positive, suggesting a medium-term upward trend.
- Support: Strong support at $20.72, with further backing at $16.90 if a pullback occurs.
- Resistance: Resistance remains at $44.88, with a breakout opening the possibility for a run towards $68.15.
Weekly Chart
- RSI: 65.43, showing balanced momentum with further upside potential.
- MACD: The MACD is in the early stages of a bullish crossover, suggesting a long-term upward trend could be forming.
- Support: $5.90 is the long-term support level, although $20.72 offers intermediate support.
- Resistance: The key resistance to watch is $44.88, followed by a target at $68.15, and eventually $97.00 if momentum sustains.
ORDI/USDT appears set for a potential breakout if it can surpass the $44.88 resistance level, which could lead to an upward move towards $68.15 and possibly $97.00. However, if it fails to hold above the current level, it may retest support around $20.72.
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