The altcoin ORDI continues to ride an uptrend trajectory on its daily chart, signaling strong potential for bullish momentum in the near term. CryptoBusy, a renowned crypto analyst, offers insights on the ORDI/USDT pair in a chart analysis shared on the X platform.
Notably, his analysis uses the Heikin Ashi chart, revealing ORDI’s clear uptrend. This chart, known for averaging price movements, provides a smoother look at ORDI’s trajectory. Consequently, it helps filter market noise, allowing traders to focus on the trend.
CryptoBusy’s chart analysis shows an upward-trending yellow line, underscoring the bullish nature of ORDI over the observed period. Moreover, the chart showcases two crucial horizontal white lines. These lines represent resistance levels, marking points where ORDI has previously struggled to rise above.
Significantly, specific horizontal lines on the chart indicate key price points. The highest level is around 92.2007 USDT. Below it lies another notable level at 76.9708 USDT. At the time of the analysis, ORDI was valued at 73.2221 USDT. This price level, marked in yellow, might serve as a support level, suggesting a potential rebound point for the cryptocurrency.
The candlestick pattern within a highlighted box shows a mix of bearish (red) and bullish (green) candles. This pattern points towards a short-term sideways movement within a broader uptrend. Hence, it indicates a period of consolidation in ORDI’s price action.
The analysis includes a volume bar labeled “Vol 1.781B”. This figure refers to a trading volume of 1.781 billion ORDI units for the period in question. An observed spike in volume on a particular day could be tied to specific events or news impacting ORDI.
Based on CryptoBusy’s analysis, ORDI is in a general uptrend, highlighted by the upward trend line. However, its immediate price action shows consolidation. This consolidation indicates a potential breakout, either upwards or downwards. Traders often watch for such breakouts, accompanied by increased volume, to confirm a trend continuation or reversal.
Furthermore, recent data from CoinMarketData shows ORDI at $71.58, with a 24-hour trading volume of $520,655,116. ORDI has seen a 4.39% increase in the last 24 hours. This data aligns with the bullish outlook presented in the analysis, offering a promising perspective for ORDI traders and investors.
