ORDI Price Prediction: Breaking the Pattern

ORDI's price registered a notable rise at the beginning of the week as the broader crypto market experienced a slight recovery.

After experiencing a difficult period marked by sell-offs and short liquidations, ORDI’s price finally seems to be catching a break. The altcoin, which had seen persistent outflows throughout June, has now registered inflows for nearly two months.

As per Santiment's analysis, ORDI had faced short liquidations of up to $2.38 million on Monday, the highest since mid-June. This development usually coincides with periods of recovery for the altcoin, hinting at an upcoming uptrend.

Moreover, ORDI investors have been relentlessly driving the coin up from the support level of $25.55. If this support holds and the broader market remains positive, the altcoin could breach the resistance level of $35.56.

Once this level is established as support, ORDI could rise substantially. Historically, $35.56 has served as a strong support level, and a rise from this point could push the altcoin towards $40 and higher. The next major resistance is at $46.53, and reaching this point would require strong and consistent bullish signals.

On the other hand, if ORDI fails to breach $35.56, it may face a downturn as investors might sell to secure their recent gains. This could lead to a drop to $30.00, and any further decline could invalidate the bullish outlook.