ORDI forms an ascending triangle, with higher lows pressing toward flat resistance near $12 and trendline support holding firm.
EMA and SMA cluster near $9.50, acting as dynamic support while price compresses toward the triangle apex.V
A break above $12 may fuel the next rally, while failure could keep ORDI trapped between $8.50 support and $11.50 resistance.
ORDI is coiling inside a bullish ascending triangle, with price holding higher lows against flat resistance near $12. Traders now watch closely as the token approaches a decision point that could spark its next move.
Bulls Defend the Base
According to Alpha Crypto Signal, ORDI’s daily chart shows an ascending triangle, with resistance steady at $11.90 to $12.00. The trendline rising from June lows has acted as a firm base, with every dip quickly defended.
https://twitter.com/alphacryptosign/status/1957123938267607185
ORDI is trading at $9.59 on OKX, up 3.04% for the day, with volume at 180.66K. The token holds above the 9-day EMA at $9.58 and the 50-day SMA at $9.37, forming a strong support cluster near $9.50. These moving averages have cushioned recent pullbacks, adding strength to the current bullish setup.
Volume distribution remains even, though no major spikes have emerged. Despite that, ORDI’s structure shows consistent rebounds, keeping the triangle intact and bulls confident.
Compression Points to Breakout
On Binance’s 4-hour chart, ORDI trades at $8.97, with volume recorded at 102.96K. Price has compressed within a wider range between $8.50 and $11.50 since late June. Multiple rejections from the $10.80 to $11.20 zone highlight the strength of overhead resistance.
Momentum indicators reflect the quieter tone. The MACD hovers near zero with flat histogram bars, while the RSI sits at 39.9, just below neutral. These readings show reduced volatility but also hint at a market waiting for direction.
Recent candles show smaller bodies near $8.90, signaling consolidation. Each test of support has been met with renewed buying, confirming that sellers have yet to gain control.
$12 Resistance Holds the Key
The next decisive move depends on the $12 barrier. A clean breakout could unlock the triangle’s measured target, with upside potential aligned to the pattern’s height.
Failure at resistance, however, could see ORDI remain range-bound or slide back toward the $8.50 zone. Still, with higher lows forming steadily since June, the bullish structure holds.
For now, all eyes remain on $12. That level is where ORDI’s next expansion leg could begin.
The post ORDI Coils in Ascending Triangle: Is a Breakout Beyond $12 on the Horizon? appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.
