Will ORDI Price Bounce To $80 As Demand Resurfaces At $43?
The post Will ORDI Price Bounce To $80 As Demand Resurfaces At $43? appeared first on Coinpedia Fintech News
As Bitcoin experiences another intraday spike in supply, so do the altcoins and the close cousins of Bitcoin. Amidst such conditions, the ORDI price trend shows a likelihood of a bullish turnaround after days of correction.
With a shift in the underlying sentiments, the altcoin stands at a pivotal stage with a great risk-to-reward entry opportunity. Will the altcoin reach $100 this year? Find out more in our ORDI price prediction.
Double Bottom At $43 Offers Bullish Reversal
With a constant struggle to reach the $100 psychological milestone, the ORDI price takes multiple dips to the $43 support zone. In the recent correction, the drop to $43 fails to exceed the $52 mark, resulting in another drop to the demand zone.
However, the lower price rejection from $43 avoids further correction and teases a double-bottom reversal. Moreover, the buyers maintain a stronghold at the 50% Fibonacci level, increasing the possibility of an uptrend.
Currently, the ORDI price trades at $40 as it stagnates near the demand zone. With a buy-the-dip opportunity arising at lower levels, the sideline traders await an uptick confirmation.
Technical indicators:
RSI Indicator: The daily RSI line sustains above the oversold zone and reflects a surge in bullish divergence.
MACD: The declining trend in the MACD and signal lines dive deeper into the negative territory.
Will ORDI Price Top $100?
With the growing chances of reversal, the ORDI 0price is ready to spring from the 50% Fibonacci level and prepare a bounce back to $80. Further, with the growing anticipation of a bullish comeback in Bitcoin, the altcoin could soon surge to the $100 psychological mark.
Conversely, a dip under the $40 demand zone could drop the prices to the $33 or $22 support levels.
