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Rising strong in the daily chart, the ORDI price continues to sustain the bullish momentum despite a lack of sustenance in Bitcoin, the market leader. Being a performer at a time of pullback, the altcoin attracts the eye of new investors.  However, the ongoing recovery faces a crucial resistance that may soon result in a sharp pullback for ORDI in January. Nevertheless, the overall trend remains bullish and finds optimistic support from ORDI price prediction. Source – Tradingview In the 4H chart, the ORDI price remains bullish and approaches the $80 mark while teasing a trend continuing to the $100 mark. However, the higher formations lead to an ascending resistance trendline, limiting bullish growth.  Moreover, the trend-based Fibonacci retracement level shows the uptrend, retesting the 61.80% level, and teases a trend continuation. However, the overhead trendline fracture will signal a more credible breakout entry point for sideline buyers.  Currently, the ORDI price trades at $76.41, showing a higher price rejection in the intraday candle from the overhead trendline. Hence, despite the bullish trend, the sideline buyers are indecisive and wait for a breakout signal.  Technical Indicators: EMA: The crucial EMAs in the 4H chart show a bullish trend continuation, just like the 50D and 200D EMA signaling an uptrend in action. However, the short-term pullback can retest the 50EMA in the 4H chart at $67.10 in case of a $70 breakdown. RSI Indicator: The RSI indicator in the 4H timeframe shows a recovery trend in motion but also a bearish divergence. Hence, the momentum indicator fails to give a decisive bullish signal and warns of a reversal.  Will The ORDI Price Start 2024 At $100? With Bitcoin struggling to rise above $45K and taking a short-term pullback, the altcoins may soon lose momentum. However, with a history of New Year…

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Filed under: News - @ December 30, 2023 1:26 pm