Can #ORDIUSDT Bulls Sustain this Bullish Momentum or Not?

4 déc.

Yello, Paradisers! Can #ORDIUSDT bulls sustain the current bullish momentum or not? Let's look at the latest analysis of #ORDI to see what's happening:

💎#ORDI is trading within a descending channel formation, a clear technical pattern indicating a persistent downtrend over the past months. With the price breaching descending resistance near the channel, the upcoming movements will be decisive in shaping ORDI’s trajectory for the foreseeable future.

💎The immediate resistance to watch is $66.20, which aligns with the descending channel’s upper boundary. A daily close above this resistance level would confirm a breakout, signaling the potential beginning of a bullish trend reversal. Such a move could drive the price toward the major resistance zone near $100, attracting fresh buyers and sparking renewed market confidence.

💎On the other hand, failure to break above $66.20 could result in the price retracing toward the $35.85 support level, which has previously acted as a strong demand zone. A bounce from this level would provide bulls another opportunity to reclaim momentum and challenge the resistance once again.

💎However, if ORDI closes below the $29.19 demand zone, it would invalidate any bullish case, paving the way for further downside. In this scenario, we could witness an extended drop toward lower levels around $18, reinforcing the bearish outlook and shaking out weak hands.

Stay focused, patient, and disciplined, Paradisers🥂

MyCryptoParadise
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