The Fibonacci sequence is widely regarded as one of the most powerful tools in technical analysis. When leveraged correctly, it can produce remarkable results. I've carefully mapped out the Fibonacci sequence on the ORDI chart to demonstrate its potential.
Fibonacci levels create several distinct zones, each holding significant relevance. In the chart shared above, you'll notice areas marked in green, blue, and a crucial zone between the golden lines. This golden zone stands out as one of the most critical areas in the Fibonacci sequence.
Upon reviewing ORDI's historical data (the chart provided is on a one-day time frame), it's clear that the price movements consistently respect the Fibonacci levels. When the price successfully breaks through a given level, it tends to trigger a continuation into the next zone, showcasing the predictive power of Fibonacci analysis.
The golden zone, in particular, represents a pivotal opportunity for any token. A successful break above this zone often signals a substantial upward move.
Additionally, I've outlined black rectangles to highlight consolidation phases and their subsequent reactions upon reaching the golden zone. Historically, these moments have often led to significant price increases, making it a high-probability trading scenario.
Currently, $ORDI has not only reached the golden zone but has also broken through it, maintaining a solid price at 41. Last night, as the price entered the golden zone, we observed an increase from 40 to 45. The candle began near 40, with the breakout above the first golden line triggering the rally. Today, the price is holding firm above 41, further strengthening the bullish outlook.
If this upward momentum continues, higher price targets may be achievable based on the Fibonacci levels and historical patterns. The analysis suggests potential targets at 48, 52, or even 55 in the near future.