ORDI price ready to bounce higher to the $100 milestone
Bullish Reversal with Double Bottom: ORDI showcases a bullish reversal, underpinned by a double bottom pattern, suggesting a strong foundation for upward movement.
Triangle Breakout in Daily Chart: The breakout from a triangle pattern in the daily chart indicates a potential for a high momentum rally.
Potential to Cross $100 Mark: With the current momentum, ORDI has the potential to surpass the $100 threshold this month.
Recovery from Support at $50: After a reversal from $83, ORDI finds strong support at $50, setting the stage for a bullish continuation.
Breakout Event Fuels Entry Opportunities: The recent surge in momentum provides a prime entry spot for sideline traders.
Reclaiming the 50-Day EMA: A 21% jump in the last four days helps ORDI reclaim the 50-day EMA, indicating a bullish market sentiment.
Rising Intraday Volume Supports Bullish Reversal: The increase in trading volume supports the bullish trend, enhancing the likelihood of a breakout.
Technical Indicators - RSI: The RSI's sharp reversal from the oversold boundary and crossing above the 50% mark signals growing bullish momentum.
Current Trading Position: ORDI is currently trading at $63.22, showcasing a bullish engulfing candle and a 7.63% intraday growth.
Breakout of $65 Signals Entry: A breakout above $65 could provide a clear entry signal for investors on the sidelines.
Risk of Retest on Reversal: A potential reversal from $65 could lead to a retest of the recently broken trendline.
Triangle Breakout in Daily Chart: The breakout from a triangle pattern in the daily chart indicates a potential for a high momentum rally.
Potential to Cross $100 Mark: With the current momentum, ORDI has the potential to surpass the $100 threshold this month.
Recovery from Support at $50: After a reversal from $83, ORDI finds strong support at $50, setting the stage for a bullish continuation.
Breakout Event Fuels Entry Opportunities: The recent surge in momentum provides a prime entry spot for sideline traders.
Reclaiming the 50-Day EMA: A 21% jump in the last four days helps ORDI reclaim the 50-day EMA, indicating a bullish market sentiment.
Rising Intraday Volume Supports Bullish Reversal: The increase in trading volume supports the bullish trend, enhancing the likelihood of a breakout.
Technical Indicators - RSI: The RSI's sharp reversal from the oversold boundary and crossing above the 50% mark signals growing bullish momentum.
Current Trading Position: ORDI is currently trading at $63.22, showcasing a bullish engulfing candle and a 7.63% intraday growth.
Breakout of $65 Signals Entry: A breakout above $65 could provide a clear entry signal for investors on the sidelines.
Risk of Retest on Reversal: A potential reversal from $65 could lead to a retest of the recently broken trendline.
Penafian
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