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 $650 million.</p>
<h2 class="wp-block-heading" id="ordi-chart-analysis-reveals-bullish-patterns">ORDI Chart Analysis Reveals Bullish Patterns</h2>
<p>Analyst “Crypto Jobs” shared a detailed ORDI chart analysis with his 33,000 followers. He tried to predict where is the ORDI price headed next.</p>
<p>The chart displays <a href="https://altfins.com/knowledge-base/how-to-trade-falling-wedge-pattern-crypto-chart-pattern/" target="_blank" rel="noopener noreferrer nofollow">a descending wedge pattern</a>, a formation often associated with bullish reversals. This pattern is characterized by a downward-sloping upper resistance trendline and a parallel lower support trendline. Traders typically watch for a breakout above the upper trendline as a signal for potential upward momentum.</p>
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   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24ORDI&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$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>
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<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>
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<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

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