Rally

bullish

2024

Solana

ORDI

<p>Out of nowhere, the ORDI price pumped 15% and stole the show from <a href="https://captainaltcoin.com/helium-hnt-price-among-top-crypto-gainers-10-target-next/" target="_blank" rel="noopener noreferrer nofollow">Helium’s token that was the top crypto gainer</a> until then.</p>
<p>After researching the events surrounding ORDI today, I couldn’t pinpoint any specific reason for this pump in what’s otherwise a slow market. The ORDI price is currently hovering around $31, with a market cap exceeding $650 million.</p>
<h2 class="wp-block-heading" id="ordi-chart-analysis-reveals-bullish-patterns">ORDI Chart Analysis Reveals Bullish Patterns</h2>
<p>Analyst “Crypto Jobs” shared a detailed ORDI chart analysis with his 33,000 followers. He tried to predict where is the ORDI price headed next.</p>
<p>The chart displays <a href="https://altfins.com/knowledge-base/how-to-trade-falling-wedge-pattern-crypto-chart-pattern/" target="_blank" rel="noopener noreferrer nofollow">a descending wedge pattern</a>, a formation often associated with bullish reversals. This pattern is characterized by a downward-sloping upper resistance trendline and a parallel lower support trendline. Traders typically watch for a breakout above the upper trendline as a signal for potential upward momentum.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24ORDI&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$ORDI</a> – 25$ is probably the long term bottom<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4c8.png" alt="📈" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br>Nice bullish reaction daily<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4c8.png" alt="📈" class="wp-smiley" style="height: 1em; max-height: 1em;"><br>Monitor the wedge pattern [1st chart]<br><br>Short term price action:<br>Overbuy &amp; at resistance zone [31$] <br><br>Im expecting a pull back and a retracement toward the 29$ zone before another pump! <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4c8.png" alt="📈" class="wp-smiley" style="height: 1em; max-height: 1em;"> <br><br>Key supports… <a href="https://t.co/BLwki0dXBm" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/BLwki0dXBm</a></p>— <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f9d9.png" alt="🧙" class="wp-smiley" style="height: 1em; max-height: 1em;"> Crypto_Jobs <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f9d9-200d-2642-fe0f.png" alt="🧙‍♂️" class="wp-smiley" style="height: 1em; max-height: 1em;"> TA &amp; FA <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f3af.png" alt="🎯" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@CryptoJobs3) <a href="https://twitter.com/CryptoJobs3/status/1830648017881342348?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">September 2, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>Key support levels identified in the analysis include $25.70, $27.80, and $29. These price points represent areas where ORDI has previously found buying interest, with the recent bounce occurring around the $25-27 range. This rebound from the lower support trendline could indicate a strong foundation for future growth.</p>
<p>On the flip side, resistance levels are at $31.00 and $31.80, with higher targets extending up to $50. These resistance zones are areas where ORDI might face selling pressure as it attempts to climb higher. Currently, the price is testing the first resistance zone around $31, struggling to break through decisively.</p>
<h2 class="wp-block-heading" id="short-term-outlook-and-price-predictions">Short-Term Outlook and Price Predictions</h2>
<p>“Crypto Jobs” suggests that ORDI is currently “overbought” at the $31 resistance zone. This could potentially lead to a pullback towards the $29 support level before any further upward movement. However, the analyst remains optimistic, predicting a possible surge towards the $40 mark following this anticipated retracement.</p>
<p>The descending wedge pattern observed in the chart is generally considered bullish. A breakout above the upper trendline could signal the start of a new upward trend, aligning with the analyst’s prediction of a “next leg up toward the $40 USD zone.”</p>
<p><em><strong>Read also: <a href="https://captainaltcoin.com/is-solana-dead-sol-price-trades-in-red-for-9-days-straight-but-is-there-hope-for-holders/" target="_blank" rel="noopener noreferrer nofollow">Is Solana Dead? SOL Price Trades “In Red” For 9 Days Straight, But Is There Hope for Holders?</a></strong></em></p>
<p><em><strong>Captain just hit his first 100x among a lot 2-5xs. Want to be a part of a profitable community?<br>Get all our future calls by joining our <a href="https://t.me/captainaltcoincom" target="_blank" rel="noopener noreferrer nofollow">FREE Telegram group.</a></strong></em></p>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/etoro-ca-1-oyc386si1bdrmhrff7xex5ngu4zikfy3ei6bk0rbb6.png" width="500" alt="We recommend eToro" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-etoro-target-_blank-rel-noopener-noreferrer-nofollow-span-we-recommend-etoro-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <span>We recommend eToro</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20"><strong>Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. <a href="https://www.etoro.com/customer-service/terms-conditions/trading-restriction/" target="_blank" rel="noopener noreferrer nofollow">Take 2 mins to learn more</a></strong>
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> Visit eToro Now </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Active user community and social features like news feeds, chats for specific coins available for trading. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Copy trading: allows users to copy the trades of leading traders, for free. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a href="https://captainaltcoin.com/is-why-is-ordi-price-up-analyst-predicts-rally-to-40/" rel="noopener noreferrer nofollow">Is Why Is ORDI Price Up? Analyst Predicts Rally to $40</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Is Why Is ORDI Price Up? Analyst Predicts Rally to $40

Table of Contents

CaptainAltcoin

Other articles published on Sep 2, 2024

CoinShares Reports Broad Downturn in Global Crypto Sentiment

South Korean authorities investigate Telegram over deepfake content

Meet top influencers at AIBC East Europe 2024

Argentina’s Buenos Aires to Launch Ethereum Curriculum for High School Students

Qatar’s 2024 Digital Assets Regulations Unveiled with Strategic Focus on Real-World Asset Tokeniz...

Ripple Unlocks 1 Billion XRP Tokens: What's Next For XRP Price?

Join our free newsletter for daily crypto updates!