Convergence

ORDI

Read

Divergence

Ordinals (ORDI) price has recently made headlines with its impressive market performance. A recent analysis shows ORDI price movements have revealed the golden ratio per Fibonacci retracement. This positioning is crucial, as it often indicates a potential for price bounce, marking an opportune moment for traders to consider entry.&nbsp; 
Moreover, in the last 24 hours, bullish <a href="https://coingape.com/bitcoin-ordinals-skyrocket-with-binance-listing-ordi-tokens/">momentum</a> has had the upper hand, with the price soaring from an intra-day low of $21.01 to an all-time high of $29.35. Consequently, ORDI has recorded the most gains ranking first in the CoinMarketCap top gainers.&nbsp; 
<img decoding="async" class="aligncenter wp-image-167446" src="https://coingape.com/wp-content/uploads/2023/12/Screenshot-99.png" alt="" width="545" height="426" srcset="https://coingape.com/wp-content/uploads/2023/12/Screenshot-99.png 815w, https://coingape.com/wp-content/uploads/2023/12/Screenshot-99-300x234.png 300w, https://coingape.com/wp-content/uploads/2023/12/Screenshot-99-768x600.png 768w, https://coingape.com/wp-content/uploads/2023/12/Screenshot-99-150x117.png 150w" sizes="(max-width: 545px) 100vw, 545px"> 
ORDI/USD price chart 
<h2 id="b-bullish-indicators-strengthen-confidence-in-ordi-b">Bullish Indicators Strengthen Confidence in ORDI</h2> 
Moreover, reinforcing the <a href="https://coingape.com/markets/ordinals-price-prediction-bulls-aim-30-target/">bullish perspective</a> is a critical technical indicator. The Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) on the 4-hour chart exhibit bullish trends. 
Notably, the RSI is at 90.24, suggesting an overbought condition, which may signal a potential price pullback. However, this is coupled with positive momentum from the MACD, indicating sustained buyer interest and the likelihood of continued price appreciation. 
<img decoding="async" class="aligncenter wp-image-167447" src="https://coingape.com/wp-content/uploads/2023/12/Screenshot-100.png" alt="" width="601" height="333" srcset="https://coingape.com/wp-content/uploads/2023/12/Screenshot-100.png 1120w, https://coingape.com/wp-content/uploads/2023/12/Screenshot-100-300x166.png 300w, https://coingape.com/wp-content/uploads/2023/12/Screenshot-100-768x425.png 768w, https://coingape.com/wp-content/uploads/2023/12/Screenshot-100-150x83.png 150w" sizes="(max-width: 601px) 100vw, 601px"> 
ORDI/USD price chart (source: <a rel="nofollow" href="https://www.tradingview.com/x/QCR3wS2F/">TradingView</a>) 
<h2 id="market-structure-points-to-upcoming-breakout">Market Structure Points to Upcoming Breakout</h2> 
The market structure of ORDI adds further weight to the bullish sentiment. The asset has been consistently registering higher lows, a pattern often preceding a breakout from the prevailing trendline, followed by the formation of a higher high. This pattern indicates bullish solid momentum and is a critical factor for traders to consider in their strategic planning. 
Recent price action on the 1-hour chart has provided tangible benefits for strategic traders. Confirming a trendline breakout offered a compelling entry point, optimally utilized by taking profits at the recent swing high. This move highlights the importance of timely market entry and exit strategies in maximizing returns. 
Read Also: <a href="https://coingape.com/sec-veteran-calls-crypto-mammoth-ponzi-scheme/?utm_source=cgtelegram">SEC Veteran Calls Crypto “Mammoth Ponzi Scheme”</a> 
The post <a rel="nofollow" href="https://coingape.com/breaking-ordi-records-all-time-high-amid-bullish-breakout/">Breaking: Ordinals (ORDI) Price Records All-Time High Amid Bullish Breakout</a> appeared first on <a rel="nofollow" href="https://coingape.com">CoinGape</a>.

Breaking: Ordinals (ORDI) Price Records All-Time High Amid Bullish Breakout

Table of Contents

Coingape News Media

Other articles published on Dec 2, 2023

Four Altcoins That Analysts Say Should Not Be Missed Next Week

Nature Journal features Salus’ pioneering solution for blockchain vulnerabilities: Details

Veteran Trader Goes All In On Bitcoin (BTC) Again, Says Bears Are “Doomed” – Here’s His Outlook

Dogecoin Founder Explains Powerful Idea Behind New Coinbase Ad

AI Revolutionizes Pharmaceutical Research: Accelerating Drug Development

Strong Trading Volume and Breakout Patterns Boost ORDI's Crypto Appeal

Join our free newsletter for daily crypto updates!