Some analysis about ordi:
After a period of bearish influence, Ordi entered a trading range between 51.719 and 57.648. Subsequently, ORDI price increased by 16.31% and then fluctuated between 57.648 and 66.767.
As market volatility intensified, bulls gained another 19.73% before the price temporarily assumed a neutral trend. Although the bulls struggled to keep the price above the support, it eventually led to a price collapse.
After testing the low of 57.648, the bulls regained momentum and gained 35.70% over the next four days. Subsequently, the price has been trading between 73.176 and 78.232.
The technical indicator MACD shows a continued decline in the green histogram, highlighting the cooling price action in the cryptocurrency market. Furthermore, the moving averages indicate the possibility of a bearish trend, indicating uncertainty about future price movements.
If the bulls gain strength again and push the price above the resistance at 78.232, ORDI price will try to test its upper limit at 84.50. On the contrary, if the bears overwhelm the bulls, the price will lose momentum and drop to test the lower limit of 62.30.
