Bitcoin ETF

Bitcoin

ORDI

<img width="1200" height="681" src="https://coingape.com/wp-content/uploads/2023/11/nUiVy9aR-e1699627033720.png" class="attachment-full size-full wp-post-image" alt="ORDI price" decoding="async" style="float:right; margin:0 0 10px 10px;">
Ordinals Price Prediction: This week, Bitcoin Ordinals(ORDIs) has emerged as a standout performer in the cryptocurrency market, with its price soaring from $4.92 to a current trading level of $19.2. This remarkable 327% gain was notably fueled on November 7th following the announcement by Binance, the largest cryptocurrency exchange, <a href="https://coingape.com/bitcoin-ordinals-skyrocket-with-binance-listing-ordi-tokens/">about listing the coin</a>. This development catalyzed a significant capital inflow into ODRI, propelling it past key resistance levels. 
Also Read: <a href="https://coingape.com/bitcoin-etf-launch-will-precede-major-crash-peter-schiff/">Bitcoin ETF Launch Will Precede Major Crash: Peter Schiff</a> 
<h2 id="b-is-ordi-heading-to-30-b">Is ORDI Heading to $30?</h2> 
<ul> 
 <li style="font-weight: 400;" aria-level="1">A recent breakout from the $18 barrier offers accelerate the bullish momentum,</li> 
 <li style="font-weight: 400;" aria-level="1">With Sustained buying, the ORDI price is poised for another 60% jump</li> 
 <li style="font-weight: 400;" aria-level="1">The intraday trading volume in Ordinals coin is $773 Million, indicating an 89% gain.</li> 
</ul> 
<img decoding="async" class="alignnone" src="https://s3.tradingview.com/snapshots/n/nUiVy9aR.png" alt="Ordinals Price Prediction" width="1946" height="1104">Source- Tradingview 
On November 7th alone, the Ordinals coin experienced an 82% intraday surge, <a href="https://coingape.com/markets/ordinals-price-prediction-has-ordi-hit-overbought/">marking a bullish breakout</a> from two pivotal swing highs at $8.55 and $10.5. This surge effectively ended a 5-month accumulation phase, signaling the start of a new recovery.&nbsp; 
<blockquote>
 The daily timeframe chart now shows a parabolic growth pattern, indicative of a <a href="https://coingape.com/glossary/rounding-bottom-pattern/">rounding bottom formation</a>. This pattern is often seen as a strong indicator of a trend reversal, presenting a lucrative opportunity for long-term investors to capitalize on.
</blockquote> 
Recently, the coin breached yet another resistance at $18, setting a new target for buyers to propel the price even higher. By the press time, the ORDI price trades at $18.1, and with an intraday loss of 6%, it is retesting this breach resistance as a potential support.&nbsp; 
Should the coin maintain stability at this level, we can anticipate a further upward trend, potentially reaching a 64% increase to the $29.5-$30 neckline resistance of the current pattern. 
<h2 id="strong-key-levels-to-watch-strong">Key Levels to Watch</h2> 
The current market outlook for Ordinals coin remains overwhelmingly bullish. However, should today’s closing price fall below the $18 mark, investors might witness a minor correction in the near term. Such pullbacks, following significant rallies, are often seen as healthy market corrections, allowing for a consolidation of the bullish sentiment. In the event of this pullback, potential support levels could be found at $14.6 and $10.6. 
<ul> 
 <li style="font-weight: 400;" aria-level="1">Relative Strength Index: The daily <a href="https://coingape.com/glossary/rsi-relative-strength-index/">RSI</a> slope at 80% accentuates the aggressive bullish momentum and an overbought asset.&nbsp;</li> 
 <li style="font-weight: 400;" aria-level="1">Exponential Moving Average: In case of a bearish pullback, the 20-day <a href="https://coingape.com/education/exponential-moving-average-how-to-leverage-it-in-crypto-market/">EMA</a> slope may offer some early support for buyers to sustain higher levels.</li> 
</ul> 
The post <a rel="nofollow" href="https://coingape.com/markets/ordinals-price-prediction-bulls-aim-30-target/">Ordinals Price Prediction: Bulls Aim $30 Target Amid Bullish Pattern Formation</a> appeared first on <a rel="nofollow" href="https://coingape.com">CoinGape</a>.

Ordinals Price Prediction: Bulls Aim $30 Target Amid Bullish Pattern Formation

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