Ordinal’s (ORDI) is among the Top 10 gainers today as it has seen an 11.14% price surge over the past day. Its trading volume is also up by 121.22%, which could mean people are buying ORDI.
Top analyst, WorldOfCharts1 on X, formerly Twitter, updated his followers that ORDI’s price has already seen over 30% profit since the breakout and is presently testing another key trendline. He added that a successful breakout can send it towards $100 in the coming weeks.
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ORDI Technical Analysis: Breakout From Descending Channel
World of Charts’ analysis indicated that ORDI’s price has been constrained within a descending channel for a prolonged period. The breakout from this channel marked a turning point for the token, signaling a possible shift from a bearish to a bullish trend.
The breakout was followed by rapid price movement, with the ORDI price climbing more than 30%, which correlates with the analysis shared by the analyst.
Image Source: X/WorldofCharts
Furthermore, this breakout has attracted considerable attention, as such moves often lead to continued upward momentum. Many traders are now watching to see if ORDI will break through the next resistance level.
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Show more +Show less – ORDI Price Testing Key Trendline Resistance
After the initial breakout, ORDI’s price is now approaching another key resistance in the form of a trendline. This level is crucial for determining whether the token can sustain its upward trajectory. Moreover, a successful breakout above this trendline could lead the ORDI price toward a 273% pump.
This trendline test represents an essential moment for the token, as breaking through would likely attract more buyers, potentially fueling a substantial price increase. Many traders are monitoring this level closely to confirm the next leg of ORDI’s journey.
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Can ORDI’s Price Potentially Reach $130?
Technical analysis suggests that ORDI’s price could rally as high as $130 if it successfully breaks through the current resistance levels. The ORDI chart highlighted a potential 273% gain from the current price of $41.78, with a target projection well above $100.
While these projections offer promising insights, traders are advised to monitor the market closely, as the success of the breakout will likely determine the token’s short-term price movement.
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The post Here’s Why ORDI’s Price Could See a 273% Pump in the Coming Weeks appeared first on CaptainAltcoin.
