- The RSI, and EMAs are giving bullish indications for ORDI price.
- The Ordinals price action highlights a bullish view at the time of publishing, as it recently attempted to surge from a decisive level.
ORDI is a digital currency that runs on the same network as Bitcoin. It is a distinctive way of leveraging the Bitcoin system for numerous purposes.
The ORDI token operates on the Bitcoin network, using its smallest unit of value, SATs (Satoshis).
The token can affix different types of extra data, such as text or images. This is done without requiring smart contracts, which is unlike how most blockchain tokens function.
The BRC-20 token Standard is a set of rules and directives for generating tokens on the Bitcoin network. It specifies how those tokens should act to work well with the Bitcoin system.
The ORDI token has no connection to the Ordinals Protocol. They both use the Bitcoin network and SATs, but they have different aims and methods.
Furthermore, the Ordinals Protocol allows the users to add extra data to Bitcoin’s SATs without using smart contracts, while the ORDI coin is a form of digital currency on the Bitcoin network, following the BRC-20 Token Standard.
Ordinals Price Movement on 1-D Time Frame
Earlier, the ORDI crypto revealed a sign of an uptrend as the price rallied from a crucial level of around $65 on the charts.
Now, on the daily chart, the crypto is set for a colossal spike in the form of higher highs. The ORDI asset is exhibiting bullish strength and rising capacity as it holds above major EMAs and crucial levels on the chart.
Furthermore, the ORDI crypto asset is displaying bullish behavior as the MACD shows a bullish cross with broadening histogram width. The RSI is above the 14 SMA, which shows positivity, meaning that the ORDI can extend its gains.
Overall, per the daily chart analysis, the ORDI asset is showing bullish signs and has the potential to grow further. It performed well in the past week, month, and quarter, 23.02%,121.80%, and 2354.46%, respectively, indicating a strong uptrend.
The ORDI crypto recorded a 8.80% decline in the last 24 hours, and was trading at $82 at press time.
However, if the demand for the remains high, the ORDI asset price could advance higher from the immediate level. The next goal for the price is to reach $90. On the flip side, if the ORDI crypto price fails to stay above the $60 level, it could decline further.
Summary
ORDI price highlights the bullish sentiments and perspectives regarding the crypto asset in the daily time frame. The Ordinals price action highlights a bullish view at the time of publishing, as it recently attempted to surge from a decisive level.
Moreover, the technical parameters of the Ordinals price suggest the continuation of the uptrend, reliant on the buyer’s surge, over the daily time frame chart. Major reliable and trustworthy indicators like RSI, and EMAs, suggest and show bullish indications regarding the ORDI price.
Technical Levels
Support Levels: $60
Resistance Levels: $90
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.