ORDI falls 4% in 24 hours: Future predictions?

December 19, 2023

By Akashnath S

• ORDI has formed a range, with the $50 level being significant within it.

• Despite the losses of the past week, the selling volume was not high.

Ordinals [ORDI] has been on an extraordinary run in recent months. It was trading at $2.82 in September but skyrocketed to reach $69.76 in the first week of December.

This represented gains of 2370%, measured from the September low to the highs. In the past ten days, the price has pulled back to retest the $44 level as support. In doing so, it formed a range.

The range and the retracement levels formed a solid support

Source: ORDI/USDT on TradingView

This range (white) extended from $44.15 to $66.9, where ORDI faced stiff resistance once again on the 14th of December. Moreover, the mid-range mark at $55.52 has served as a reliable resistance during this period.

To read entire article…Click Here!