Ordinals (ORDI), the first BRC-20 token developed on the Bitcoin Network, has recovered in the past two weeks.
Amidst the shift in the market dynamics and resurgence of Bitcoin price, ORDI price regained the bullish momentum and soared over 60% in the last two weeks.
The ORDI token price recently revived from its lower trendline support mark of $26 and took a U-turn from there. Traded inside a falling channel, the token seemed poised to break out its downward-sloping trendline hurdle soon.
The noteworthy recovery from the bottom signified the buyer accumulation and the fresh long additions in the token. Interestingly, a follow-on buying action with a volume surge conveyed the demand surge, which might fuel the potential upmove ahead.
It has climbed above the 20-day and 50-day EMA marks and attempted to crack the 100-day EMA mark. Once the major hurdle of $50, which was placed close to the 200-day EMA mark, breaches, a breakout rally can be seen ahead.
ORDI At Press Time
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