ORDI surges 15% as bears lose ground!
ORDI is a new token that runs on the innovative Bitcoin Ordinal Inscription Protocol. It utilizes the Bitcoin Satoshi (or sats) base unit to embed multiple data types such as text, images, audio, and video.
ORDI token price has recently attracted attention from buyers in a consolidation phase. The price is trading on a key bullish Point of Interest (POI).
After breaking down, the price reflected a bearish move of more than 35% to the $31.27 demand zone. It surged more than 45% from this demand zone, reflecting bullish signs.
According to technical analysis, the current price reflects a bullish reversal that can be confirmed above $62.15.
Summary
ORDI has been showing strong bearish sentiment since early March 2024. Since then, the cryptocurrency has recorded a bearish rebound of more than 65% and entered a consolidation phase. This reflects a weakening of bearish sentiment in the price. Recently, buyers have pushed the price above 45% from the key demand zone. This could be a sign of a potential reversal.
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