⚫️ORDI/USDT⚫️

✔️ $ORDI , which increased its price to $97 and renewed ATH with its rise last month, has been in the correction process and falling trend for about a month. The price has dropped 42% from its most recent high and ATH level of around $97 to $55 and is currently trading at $60.

✔️ When we examine ORDI on the 4-hour chart, we see that the price reacted twice at different times at $55 levels and the candles at these levels remained as wicks. The price currently seems to be trying to gain support at $60 levels, which have served as an order block in the past. So from here we can deduce that the $55 - $60 range is a region that can serve as strong support for ORDI. When the RSI is examined, we can say that ORDI is currently in the sell zone, but the RSI value is close to 50 levels, which is the neutral zone of the indicator, and if this area is gained, ORDI may evolve into a bullish structure.

✔️ Another issue is that Bitcoin is #halving and ORDI is a token of #brc20 . Days before the Bitcoin Halving, I believe that we should be more interested in BRC20 tokens such as ORDI and the Bitcoin ecosystem in general. With the possible hype in BRC20 tokens with the halving, ORDI can achieve satisfactory increases and satisfy its investors. I think we should shape our investments with such fundamental analysis as well, apart from technical analysis.

✔️ Even though my ideas for ORDI are bullish at the moment, the course of BTC and TOTAL charts will affect ORDI as it does for every #Altcoin . In order to predict price movements in the coming days, especially the course of BTC chart will be very important since ORDI is a #brc20 token. That's why, despite everything, we must remember to manage risk and make gradual purchases!

❗️ What I write here is my own opinion and is not investment advice. #dyor