Expert opinion: Be cautious #ORDI (from Coinsradar.net)

💎 ORDI is showing a compelling trend and needs to be closely watched.

💎 A successful breakout of the descending channel implies bullish momentum for ORDI. Currently, the price may retest the trendline and then continue its upward movement to the supply zone of about $55.45.

💎 A successful breakout of this supply zone would confirm that ORDI has resumed its bullish trend, which could lead to a significant uptrend towards the target strong resistance zone.

💎 If resistance is encountered at the supply zone and a strong rejection occurs, the price may fall back to the support zone of about $44.60, which coincides with the resistance neckline of the ascending triangle.

💎 ORDI must rebound from this support zone and resume its upward trend. Failure to rebound or break below the support zone may suggest further declines, with the possibility of testing the bullish order block area. To maintain the bullish momentum, ORDI needs to reclaim the price above the $44.60 support zone when it reaches the bullish order block area.

💎 If ORDI breaks through the bullish order block area and confirms a daily close below this area, it may mean a bearish trend reversal, leading to a continued decline.

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