LIVE#In January 2024, Ordinals ( ORDI), a BRC20 token, witnessed a sharp correction, with its price falling from $91.8 to $48.8. This 48.8% decline breaks below the 20-and-50-day EMA and nearly tests 50% Fibonacci retracement.
However, the daily time frame shows this correction is developing into a bullish flag pattern- a temporary pullback for buyers to replenish the exhausted bullish moment. this correction. As this prepares the next recovery leap in the near future, check out our ORDI price prediction to find out if the altcoin will surpass $100. therefore, a successful breakout with a daily candle closing will accelerate the bullish momentum. In such a case, buyers can target $48, followed by an extended rally.
Technical indicators:
RSI Indicator: The daily RSI line shows a sharp spike to reach the halfway line, reflecting the bearish sentiment diminishing in this asset.
EMA Indicator: The ORDI price trading above 100-and-200 days indicates the long-term remains bullish.
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