ORDI Price Still Bullish After Multi-Day Correction For BRC-20 Coins

In this article, explore the latest ORDI price prediction, Price Volume in 24h Price 7d , as 99Bitcoin’s continues to track the leading BRC-20 token’s performance on the market week-on-week.

A small +3% gain on the very first BRC-20 token (ORDI) so far today? Compared to APE’s +17% and NEIRO’s +22%, it could look tiny, but upward continuation is still on the table.

If you haven’t read Last Week’s ORDI Price Analysis, please do! You’ll need it as context since I’ve kept the drawings on the charts we will look at today.

$ORDI

Same idea as $BTC

D1 FVG FF -> H1 Unicorn

Idea:

Price cleared out the lows inside a HTF PD Array and displaced higher back inside previous week's value area – looking for a rotation higher

Trade with me here: https://t.co/XVwpDz0oIH pic.twitter.com/YQ8Gh1vmOC

— Hmz (@HmzCharts) September 10, 2024

How Has ORDI Price Shaped Up Over the Last Week of Trading?

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Now, let’s see what ORDI price did in the past week – we will start with the daily chart and then also look at smaller timeframes:

(ORDIUSDT)

I added the Moving Averages 50(white), 100(green), and 200(red) since those can be good indicators of price momentum.

On the daily chart, we clearly see that after our 20% candle last week, we were rejected from MA50. What is important is that it looks like it formed a support level and turned upwards again.

Next, 12H chart:

(ORDIUSDT)

Here, we see that the price got to the 50MA and was initially rejected from there. But…

(ORDIUSDT)

On the 4H chart, we clearly see the retest of the red line (the previous high was broken), and now we are at a cluster area where all 3 MAs are coming together.

(ORDIUSDT)

At the 1H timeframe, we see that the price broke above the 200MA, and the 50 and 100MA are just below our current price level. That is where we hope the price retests and holds before going up. For now, the outlook is still bullish continuation, in my opinion, and we observed a healthy retrace.

Also, the Aggregated Open Interest has a 1.6 long/short ratio, which means there are more longs currently – bullish sentiment.

Let’s follow up next week! And remember – trading is all about patience!

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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.