ORDI price expected to rise 100% with Bitcoin halving this April
As Bitcoin reached $70,000, the pullback phase ended and altcoins returned to be the top gainers. Among altcoins, the ORDI price trend shows good prospects for a bullish comeback in the near future.
Additionally, OTC traders are anticipating a strong rally due to multiple bullish catalysts in the ORDI trend and the overall market. Finally, with the Bitcoin halving coming this April and the Bitcoin price reaching $75,000, the ORDI price prediction predicts a score of over $100.
ORDI price trend has led to the formation of an ascending support trendline on the daily chart through a diagonal consolidation wave. Additionally, altcoins have struggled to bounce back from the baseline.
From an upside perspective, sellers are in the driver's seat at the $85 mark as it has resulted in multiple rejections over the past few months. As a result, altcoins are caught in a long-term consolidation wave. Currently, ORDI price is trading at $66.3, up 4.13% intraday, forming a bullish engulfing candle.
With intraday action, altcoins pared Wednesday’s 5% losses and are poised to make a strong comeback next month.
Technical indicators:
RSI Indicator: The daily RSI line followed ORDI’s bullish recovery and broke above the midline.
Bollinger Bands: A bullish recovery leads to the formation of new higher lows and avoids a drop to the lower Bollinger Bands. However, the Bollinger Bands maintained a downward trend with only minimal sideways movement until the lower band rose, signaling a reversal.
Will ORDI Price Break Above $100?
With the recent reversal, ORDI price challenges the 78.60% Fibonacci level and is gearing up for another test of $85. Given the massive supply at $85 and the intensity of the momentum swirling during the consolidation, a spectacular breakout rally is possible.
Therefore, a bullish break above the $85 mark could easily lead to a break above the psychological $100 mark. Optimistically, the uptrend could reach the $132 mark, which is the 1.618 Fibonacci level.
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