đ»ORDI Analysis: Downtrend or Reversal Incoming?đ»
$ORDI has been on a downward spiral, confined within a downtrend channel. This pattern suggests a potential continuation of the decline, but a breakout could signal a shift. Here's a closer look:đ
Current Situation:
#ORDI is stuck within a downtrend channel, indicating a bearish bias.
A clear price breakout above the channel is needed to establish a #bullish trend.
Challenges for ORDI:đ„
âąMultiple hurdles exist for a price increase.
âąOvercoming the resistance zone at $51.00 is crucial for any potential buy signals.
Where to Look for a Turnaround:
A breakout above the downtrend channel, along with increased trading volume, could indicate a reversal.
What's Your opinion on This??
