Get the latest information on ORDI BRC-20 price trends. Bitcoin price rises as FOMC cuts rates by 50bp.
In this article, we continue to track the BRC-20 coin ORDI price prediction.
After receiving good news from the FOMC, as I mentioned in my first article about ORDI, ORDI is a coin that is heavily influenced by the movement of the Bitcoin price.
Before reading further, review last week’s analysis!
We had a good week in the crypto market overall, with many altcoins seeing significant price increases! And there are those who like our coins. Let’s take a look at how the prices have moved.
$Ordi sexy pic.twitter.com/5guGa4j3tF
— Alex Minimal (@MinimalTrader_) September 19, 2024
How did ORDI prices develop during this week’s big FOMC news?
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First up is the daily chart. We can see a clear recovery and retest of the MA50, which is important because it gives us an early indication of what could be a resistance zone. The price is still on track with a target near $39, which is where the Fibonacci 0.618 correction level from the massive move in Q4 last year and the control point level of the fixed range volume profile converge.
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Next, let’s look at the 12-hour time frame for the BRC-20 ORDI coin. In the previous screenshot, it was in the FRVP range, but here it has extended to today and now the PoC is down to ~$29. This level was reversed and retested again around the time of the FOMC announcement and speech this Wednesday.
What I found interesting was that when I pulled up the ORDI/USDT spot chart on Binance, the PoC level didn’t change, but the lower levels also went up and the volumes are now relatively similar.
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On the 4-hour timeframe, we continue to receive new information on the price action. The red line is the MA200, another important indicator that ORDI has broken above. This is a bullish signal along with Bitcoin’s recent 10% gain.
The price of ORDI is up 20%. It is double that of BTC. We also see a pattern of higher lows and higher highs after the orange circled high, which is also bullish. What we want to see next is a higher high above the orange high.
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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes only and does not constitute investment advice. You may lose all your capital.