Based

bullish

Source

ORDI

The post <a href="https://coinpedia.org/price-analysis/is-ordi-price-ready-for-a-breakout-run-to-70/" rel="noopener noreferrer nofollow">Is ORDI Price Ready For A Breakout Run To $70?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
Amid the crypto market staggering to reclaim recovering momentum, ORDI price witnesses a 98.17% surge in trading volume to hit $166M. The surge in trading activity over the past 24 hours bolsters the recovery of 15.40%.&nbsp;
However, the overall trend in the last few months has been bearish, forming a falling wedge in the daily chart. Will a bull cycle in ORDI result in a breakout run this month?
<h2 class="wp-block-heading" id="h-ordi-price-prediction">ORDI Price Prediction</h2>
In the daily chart, the ORDI price shows a declining trend, accounting for a 68% drop from the annual high of $96.53. Furthermore, the declining trend breaks under the $50 psychological mark and tests a low of $23.51.&nbsp;
<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXdhsZzlJFkFBmZ5SwvxHzMNkicAR6kIqG-fNXi6TC9-9XUpG2ec6kPooitXep4_WVNSbcYMo4A9k4GMmWWMuGpj7g2YM6DsWu3Kacp9HBjteY7shUdNpzxYydSNUhvc3MoM9aqrOn4g3kC0oDgYj3G-FB0?key=W72ZeOa3gYOZ3-SXRfUH_w" alt="">
</figure>
Source – <a href="https://www.tradingview.com/x/jAOTOskc/" rel="noopener noreferrer nofollow">Tradingview</a>
The ongoing bull cycle in the falling wedge accounts for a price jump of 43% in just 8 days. Currently, the ORDI price trades at $30.11, with an intraday pullback of 2.66% following last night’s jump of 15.40%.&nbsp;
Based on the general assumption of a falling wedge, the asset price leads to a bullish breakout run. Hence, the chances of an uptrend reversal rally in the ORDI price are increasing.&nbsp;
Despite a 61% YTD drop, the altcoin has a market cap of $632 million, ranking at #92 in the crypto market. As the broader market recovers, ORDI price teases a bullish breakout run for a massive trend reversal.&nbsp;
Technical Indicators:
MACD: The bullish reversal in the falling wedge pattern results in an uptick in the MACD and signal lines. The average lines are on the verge of a bullish crossover, supporting the bull cycle.
<h2 class="wp-block-heading" id="h-will-ordi-surpass-50">Will ORDI Surpass $50?</h2>
As per the Pivot points standard, the upside targets are at $34, $44, $52, $61, and $70. Hence, the recovering rally in ORDI price shows an upside potential of 130%. However, the bullish breakout of the overhead trendline will be critical in redirecting the trend momentum.&nbsp;
On the downside, the pivot points reveal support levels at $26,$17, and $9.

Is ORDI Price Ready For A Breakout Run To $70?

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