Bitcoin

ORDI

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ORDI, a prominent BRC20 token, has made headlines with a remarkable 23% surge in just 24 hours, pushing its price to $32.40. This sudden upward movement follows a series of consistent inflows and strong investor confidence, which have helped the altcoin resist the broader market’s bearish trends.<h3 id="what-s-driving-ordi-s-bullish-momentum">What’s Driving ORDI’s Bullish Momentum?</h3>One of the key factors behind ORDI&#39;s resilience is the sustained capital inflows since late June, as highlighted by the <a href="https://www.fidelity.com/learning-center/trading-investing/technical-analysis/technical-indicator-guide/cmf" rel="noopener noreferrer nofollow">Chaikin Money Flow (CMF)</a> indicator. These inflows have played a crucial role in supporting ORDI’s price, even as the broader cryptocurrency market faced downward pressure.The recent surge in ORDI’s price also triggered significant short liquidations, totaling $2.38 million—the largest since mid-June. This event has forced bearish traders to reconsider their positions, potentially reducing the selling pressure on ORDI and setting the stage for further gains.<h3 id="breaking-resistance-what-s-next-for-ordi">Breaking Resistance: What’s Next for ORDI?</h3>With ORDI currently trading at $32.40, the altcoin is on the brink of breaking the crucial resistance level of $35.56. If ORDI manages to establish this level as new support, it could pave the way for a significant rally, potentially pushing the price towards $40 and beyond. However, failure to breach this resistance could lead to a pullback, with prices potentially dropping to $30.00 or lower.The market sentiment around ORDI remains bullish, but as always, investors should remain cautious. The cryptocurrency market is notoriously volatile, and while the signs are positive, external market conditions could still impact ORDI’s trajectory.As ORDI continues to capture the attention of investors, all eyes will be on whether it can sustain its momentum and break through key resistance levels in the coming days.Disclaimer: This article is intended for informational purposes only and should not be construed as legal, tax, investment, financial, or any other form of advice.Source: <a href="https://icogemhunters.com/ordis-price-rally-can-it-break-the-35-56-resistance-and-soar-higher/" rel="noopener noreferrer nofollow">ICO Gem Hunters</a>

ORDI's Price Rally: Can It Break the $35.56 Resistance and Soar Higher?

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