ORDI/USDT Eyes Key Support as Bearish Momentum Builds
$ORDI
The #ORDI/USDT pair on Binance's 4-hour chart is showing significant bearish momentum, currently trading around $26.92. The price is well below the 200-period moving average (MA), which is set at $31.78, indicating a sustained bearish trend. The Volume Weighted Average Price (VWAP) is at $28.30, slightly above the current price, suggesting a short-term oversold condition.
The Relative Strength Index (RSI) is at 24.53, indicating that the market is in oversold territory, which may hint at a potential short-term bounce. However, the Moving Average Convergence Divergence (MACD) histogram shows a strong bearish signal, with the MACD line (-0.72) below the signal line (-0.65) and both lines below the zero level, reinforcing the bearish momentum. This setup suggests that ORDI/USDT may continue its downward trajectory, potentially testing the support zone around $25.00.
On the 4-hour chart, the price action shows a clear breakdown from a previous consolidation range, now approaching a key support level around $26.85. A sustained break below this level could pave the way for further declines toward $25.07 or lower. Conversely, if the price manages to hold this support, a short-term rebound towards the resistance zone around $28.30 could be expected.
Disclaimer:
The information provided in this analysis is for educational purposes only and should not be considered financial advice. Cryptocurrency investments are volatile and carry a high risk. Always perform your own research before making any investment decisions.
