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ORDI

The post <a href="https://coinpedia.org/price-analysis/ordi-price-under-triangle-hints-50-breakout-surge/">ORDI Price Under Triangle Hints 50% Breakout Surge&nbsp;</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
Amidst the recovering altcoin market, the <a href="https://markets.coinpedia.org/ordinals/">ORDI price</a> action shows a bullish trend reversal after an intense pullback to $33. However, the recovery rally in ORDI experiences overhead resistance, leading to a contraction in volatility.&nbsp; 
Will this contraction lead to a massive surge in the altcoin with a breakout rally? Will ORDI claim the $100 psychological milestone in 2024? Find out more in our <a href="https://coinpedia.org/price-prediction/helium-price-prediction/" target="_blank" rel="noreferrer noopener">ORDI price prediction</a>. 
<h2 class="wp-block-heading" id="h-triangle-pattern-holds-the-future-of-ordi">Triangle Pattern Holds The Future of ORDI</h2> 
Following the bearish downfall to the $33 level, 61.80% Fibonacci level, from the $87 peak, accounts for a 62% drop. However, with the broader market recovery, the ORDI price trend siphons bullishness from the market to challenge the $43 mark.&nbsp; 
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<a href="https://www.tradingview.com/x/kwsANkQu/">Tradingview</a> 
However, the higher price rejection from an overhead resistance trendline leads to a triangle pattern. Currently, the recovery rally is up against the resistance trendline and the 50% Fibonacci level at $43. 
Currently, the ORDI price trades at $41.96 with an intraday gain of 3.03%, leading to another bullish candle. This recovery rally increases the possibility of a breakout rally to reclaim the $50 psychological mark.&nbsp; 
Technical indicators:&nbsp; 
RSI Indicator: With a contraction in volatility, the daily RSI line turns sideways near the halfway line.&nbsp; 
EMA: The death cross in the 50D and 200D EMA reflects a bearish reversal. Further, the 50D EMA provides a dynamic resistance to bullish attempts.&nbsp; 
<h2 class="wp-block-heading" id="h-will-ordi-price-break-the-triangle">Will ORDI Price Break The Triangle?</h2> 
Despite several bearish oppositions, the broader market recovery and the breakout possibility could lead to a bull run in ORDI price. As per the Fibonacci retracement levels, the altcoin price could reach the 78.20% level at $64. 
Conversely, a downfall under the support trendline will put additional pressure and risk the $33 breakdown. In such a case, the next support level is at $20.

ORDI Price Under Triangle Hints 50% Breakout Surge

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