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Is it going to lose 50% forward?

Is it going to lose 50% forward?

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Vaseline

  • ORDI crypto has diluted 100% of its total supply on the open market.
  • The ORDI price is up 14.96% over the last 8 hours.

The ORDI price chart has shown strong selling pressure and is down 64% since early March. It has fallen due to the resistance of the trendline.

The price of the digital asset fell by 35% in the first 4 days of July. However, it recovered those losses and crossed the 20-day EMA mark. The price fell in the first week of July and gained bullish momentum.

As for the technical indicators, ORDI Prize crossed the 20-day EMA and was heading towards the 20-day EMA at the time of writing.

This phenomenon indicated the beginning of a bullish trend. MACD developed a golden crossover with the signal line and the histograms turned green.

Can ORDI Crypto Grow 100% Further?

According to a source at X, the ORDI meme coin has shown strength on the chart and is moving forward after taking support at the $34 level. If the ORDI coin remains bullish, it is expected to reach the $67 mark in the coming weeks.

It can be important to note the Bitcoin chart momentum. If the BTC identifies the bullish momentum, it can have a positive impact on the ORDI crypto price.

Can a falling wedge breakout trigger a rally?

A source at X suggested that ORDI price has been falling through a descending wedge pattern as it consolidates. Currently, price has support at the wedge’s support trendline and has moved towards the resistance trendline.

Suppose the price makes a strong breakout of the wedge, which can lead to buying pressure. A strong breakout of the major trendline can entice buyers to the triple-digit trendline.

ORDI Crypto Price Technical Overview

COINBASE: ORDI/USD 1-D Chart | Source: TradingView

ORDI was trading at $38.52 at the time of going to press, up 9.04% in the past 24 hours. Its market cap was $808.14 million and its 24-hour trading volume was $168.19 million.

The graph structure showed that the ORDI crypto price has continued to fall due to resistance of trendline. Since March, buyers have tried to overcome trendline three times but failed. However, it was tried again and price moved towards trendline.

Buying momentum can be expected if the price of the digital asset crosses the trend line. The increase in trading volume can attract buyers for the psychological level of $100.

Sellers may also get the chance, assuming that the price forms a bearish candlestick near the trendline. Bearish momentum in the lower high area may lead to bearish momentum, and bears may look for a new lower low.

Is a breakout of a major trend line expected?

When writing, ORDI crypto price showed signs of bullish momentum in the short term. The technical indicators pointed to a potential for a bullish trend.

If the price breaks above the trendline, it can attract more buyers and increase the trading volume significantly. On the other hand, if the price forms a bearish candlestick near the trendline, it can signal a potential for bearish momentum and a new lower low.

Technical levels

Based on the chart structure, the ORDI price may face resistance at the $43.00, $60.00 and $76.00 levels. It may find support at the $34.00 and $26.00 marks.

Disclaimer

This article is for informational purposes only and does not provide financial, investment or other advice. The author or individuals mentioned in this article are not responsible for any financial loss that may occur from investing or trading. Do your research before making any financial decisions.

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