Skip to content

TOP FOREX BROKERS REVIEW

THE INTERNET'S MOST COMPREHENSIVE LIST OF ONLINE FOREX BROKERS AND FOREX REVIEWS. 

ORDI (ORDI) Price Prediction – When will ORDI hit $100?

ORDI Price Prediction
author Written by
Rex John Walsh
author Fact checked by
Sangram Mohanta

Last Updated on June 10, 2024 by TOP FOREX BROKERS REVIEW

ORDI is a new token capitalizing on the inventive Bitcoin ordinal inscriptions protocol. It embeds a variety of data categories, including text, images, audio, and video. Recently, the price of ORDI has attracted attention during its consolidation phase, as it is currently trading at a critical bullish point of interest (POI).

Significant growth was observed in November and December 2023, as the price of ORDI surged by more than 550%. Nevertheless, this accelerated expansion resulted in imbalances and raised concerns among certain retail and amateur investors. A 23.81% decline was initiated in January 2024 due to initial profit-taking. 

The market participants aim to reverse bearish sentiments sparked by investors' failure to drive the price above $89.21 in February 2024.

The current circulating supply of ORDI tokens is the maximum supply of 21 million, which suggests a dedication to a deflationary model. ORDI is currently ranked among the 90 most prominent cryptocurrencies globally, with a market capitalization of $991 million.

Should you keep ORDI in your crypto basket?

Let’s  find the ORDI price projection for 2024, 2025, 2030, and beyond from the ORDIUSD technical analysis:

Why Could ORDI Grow In 2024 and 2025?

After its launch in March 2023, ORDI, the first BRC-20 token to utilize Bitcoin's ordinals protocol, garnered significant market capitalization and attention. This integration, enabled by Casey Rodarmor's ordinals protocol, enables the direct inscription of data onto satoshis, including text, images, audio, and video. This extends Bitcoin's functionality to include NFTs and other digital assets in addition to transactions.

The BRC-20 standard, derived from Ethereum's ERC-20, applies this concept to the Bitcoin network. ORDI, a BRC-20 token, inscribes data within a satoshi, demonstrating a novel application of Bitcoin's infrastructure that does not require external smart contract platforms, which rely on smart contracts.

The unique project nature of ORDI and the new possibilities it introduced to the Bitcoin network resulted in a significant increase in its value and popularity following its introduction. The price rise that occurred following its listing on major cryptocurrency exchanges allowed a broader audience to trade ORDI.

Although ORDI is a promising development, it has also incited a debate within the crypto community regarding the appropriate balance between innovation and Bitcoin's fundamental principles. This controversy emphasizes the potential and obstacles of integrating emerging technologies, such as the ordinals protocol and BRC-20 tokens, into established blockchain systems.

ORDI Aimed Higher From A Valid Accumulation

ORDI Aimed Higher From A Valid Accumulation

In the daily chart of ORDI/USDT, the broader market context is bullish, where the current price is aimed higher after forming a valid bottom. 

Since the bearish exhaustion from the 96.85 level, the price kept lowering, and buyers' interest in the 44.00 to 31.10 zone was found. As the crucial demand zone backs the ongoing buying pressure, we may expect a bullish continuation in the coming days.

Looking at the volume, the largest activity level since March 2024 is at 40.59 level, which is below the current price and within the bullish order block. It is a sign that bulls are active in the market and can take the price even higher after completing a profit-taking. 

In the main price chart, the bullish breakout came from the valid buying pressure above the dynamic 20 day EMA. Moreover, the sell side liquidity sweep from the 35.76 level with a counter bullis impulsive pressure worked as a confluence bullish factor.

Based on the market structure of the ORDI/USDT, a minor downside correction with a bullish reversal from the 20-day EMA  could create a bullish opportunity. In that case, the primary target of the bull run would be toward the 79.45 level before moving above the 100.00 psychological line.

Conversely, the downside continuation might extend if bulls fail to hold the momentum above the 4390 support level. In that case, the bearish momentum might take the price towards the 32.00 psychological level.

ORDI/USD Ichimoku Cloud Analysis

ORDI/USD Ichimoku Cloud Analysis

 

In the daily Ichimoku Cloud, the current price formed a minor bullish breakout above the Cloud zone, suggesting a potential bullish reversal. However, no sufficient buying pressure is seen at the cloud resistance, which might limit the gain for bulls.

In the future cloud, the upward signal is validated by the bullish crossover, where the Senkou Span A moved above the Senkou Span B.

In the indicator snow, the buying pressure is validated by the Histogram’s position, which is above the neutral point for a considerable time.

Based on the ORDI/USD price projection, the upward continuation needs market stability above the Cloud zone before reaching the 80.00 level. In that case, a valid bullish rejection from the dynamic Kijun Sen level could take the price above the 80.00 level by the end of 2024. Byond this level, a stable buying pressure could take the price at the 100.00 level by the end of 2025 and 200.00 level by the end of 2030.

Should You Buy ORDI/USD Now?

Based on the current market outlook, ORDI/USDT needs a valid downside correction with proper bullish pressure before activating the long-term bullish pressure. As the gap between the current price and the dynamic 20-day EMA has expanded, we may expect the upward pressure to remain limited for a short period.

In the long-term projection, 80.00 to 100.00 would be a potential profit-taking zone for 2024-2025, from where a decent bearish correction might appear before anticipating another bullish wave.

Read Next

Top Rated Premium Forex Signals Services

Top Rated Premium Forex Signals Services

forex brokers review

Top Rated Online Best Forex Brokers 2024

Leave a Comment





FP Markets Join Now
FBS Broker Offer
Scroll To Top