ORDI’s price is currently on a breakout streak, following a triangle pattern that’s gaining momentum. This rally has been boosted by breaking above a key trendline. Analysts are optimistic that if this upward trend continues, ORDI could potentially reach $100.
With Bitcoin stable above $71,000, overall market sentiment is improving rapidly. This recovery has propelled ORDI’s price higher, fueled by its close association with the Bitcoin network. Investors are speculating whether ORDI could indeed reach a market value of $100.
ORDI Token Sees Bullish Surge Towards Potential All-Time High
Following weeks of contraction, the ORDI token has experienced a significant bullish leap marked by multiple breakouts and a sharp increase in momentum. With a current market cap of $1.328 billion, ORDI has surged by 64% over the past 30 days. The bullish revival in June alone has contributed to a 35% increase, characterized by a streak of six consecutive bullish candles on the daily chart.
In the daily chart analysis, the triangle breakout rally has successfully breached the primary resistance trendline. This breakout signals a potential reversal in ORDI’s price trend and hints at a prospective surge towards a new all-time high, potentially reaching near $100.
As of the latest update, ORDI is trading at $63.50, reflecting an intraday growth of 9.86% and forming a substantial bullish engulfing candle. The surge in trading volume further supports the uptrend, with expectations mounting for ORDI to surpass the $65 mark for an extended bullish trend.
RSI Indicator Analysis: The daily RSI line indicates a positive trend entering the overbought zone, suggesting strong underlying demand and reinforcing the bullish sentiment surrounding ORDI’s recent price movements.
ORDI Token Benefits from Bullish Altcoin Market and Bitcoin Surge
With the broader bull market gaining momentum, several altcoins, including ORDI, are experiencing positive price movements boosted by the rising price of Bitcoin (BTC). Currently, ORDI is testing key resistance levels, with the recent bullish engulfing candle challenging the 23.60% Fibonacci retracement level at $64.5.
The next critical milestone for ORDI is the bullish breakout above the $65 mark, which could potentially extend the uptrend towards surpassing its previous all-time high at $96.53 and ultimately targeting the $100 threshold. Analysts and traders are optimistic that continued bullish sentiment, coupled with a surge in Bitcoin’s price, could propel ORDI’s market value even higher, potentially reaching up to $120. This scenario hinges on sustained positive market conditions and increased investor interest in both ORDI and Bitcoin.
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