ORDI

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The post <a href="https://coinpedia.org/price-analysis/ordi-price-flag-breakout-eyes-a-100-breakout-50-upside/">ORDI Price Flag Breakout Eyes A $100 Breakout, 50% Upside</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
In January 2024, Ordinals (ORDI), a BRC20 token, witnessed a sharp correction, with its price falling from $91.8 to $48.3. This 48.8% decline breaks below the 20-and-50-day EMA and nearly tests 50% Fibonacci retracement. 
However, the daily time frame shows this correction is developing into a bullish flag pattern- a temporary pullback for buyers to replenish the exhausted bullish moment. this correction. As this prepares the next recovery leap in the near future, check out our <a href="https://coinpedia.org/price-prediction/ordi-price-prediction">ORDI price prediction</a> to find out if the altcoin will surpass $100. 
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Source – <a href="https://www.tradingview.com/x/nMmr7NhU/">Tradingview</a> 
The Q4 of 2023 was extremely bullish on ORDI price, as it witnessed a rally from $3.04 to a new all-time high of $91.88. Thus, registering over 2900% growth. Amid this rally, this altcoin also surpassed the $1 Billion market cap milestone and got listed on Binance. 
However, as a natural phase of the trend cycle, the ORDI price entered a correction phase in January to recuperate the exhausted bullish momentum. The daily chart shows that this retracement strictly resonates between two downsloping trendlines. Hence, the price action constructs a continuation pattern called ‘Flag.’ 
Technical indicators:&nbsp; 
RSI Indicator: The daily RSI line shows a sharp spike to reach the halfway line, reflecting the bearish sentiment diminishing in this asset. 
EMA Indicator: The ORDI price trading above 100-and-200 days indicates the long-term remains bullish. 
<h2 class="wp-block-heading" id="h-is-ordi-price-ready-for-new-all-time-high">Is ORDI Price Ready for New All-Time High?</h2> 
By press time, the ORDI price trades at the $61.8 mark with an intraday gain of 3.5%. Amid the renewed buying interest in the crypto market, this uptick teases a bullish breakout from the upper boundary of the Flag pattern.&nbsp; 
Therefore, a successful breakout with a daily candle closing will accelerate the bullish momentum. In such a case, buyers can target $91.8, followed by an extended rally to $135. 
Conversely, if the ORDI price witnesses a surge in supply pressure, the ongoing correction will be prolonged.

ORDI Price Flag Breakout Eyes A $100 Breakout, 50% Upside

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