Breakout Run In ORDI Price Teases A Hit To $100
The post Breakout Run In ORDI Price Teases A Hit To $100 appeared first on Coinpedia Fintech News
With Bitcoin sustaining above the $71,000 level, the broader market sentiment is improving at a rapid rate. Amidst this recovery, the ORDI token takes a price jump with the additional momentum.
With close links to the Bitcoin network, will the ORDI token reach the mark of $100 market valution? Find out more in our ORDI price prediction.
Bullish Extension For ORDI
Following the trend contraction for weeks, the ORDI price takes a bullish leap with multiple breakouts and a sharp rise in momentum. With a market cap of $1.328 Billion, the ORDI token has shown a 64% rise in the last 30 days. Further, with a bullish revival in June, the breakout rally in the ORDI token accounts for 35%. Further, this leads to a streak of six bullish candles in the 1D chart.
In the 1D chart, the triangle breakout rally crosses above the primary resistance trendline. This signals a trend reversal in the ORDI price trend and teases a potential jump to a new all-time high near $100.
Currently, the ORDI price trades at $63.50 with an intraday growth of 9.86%, leading to a massive bullish engulfing candle. With a boom in trading volume, the uptrend challenges the $65 mark for a bullish extension.
Technical indicators:
RSI Indicator: The daily RSI line shows a positive trend entering the overbought zone, reflecting a huge underlying demand.
Will ORDI Price Hit $100?
With the bull market starting to boost multiple altcoins, the rising BTC price brings a direct boost to the ORDI price trend. As per the Fibonacci levels, the bull run challenges the 23.60% Fibonacci level at $64.5 with the bullish engulfing candle.
A bullish breakout of the $65 mark could extend the upside trend to surpass the all-time high at $96.53 to top $100. Optimistically, a surge in Bitcoin could propel the ORDI token market value higher to $120.
