Get up to date with ORDI BRC-20 price development – 50bps rate cut from FOMC which led to a Bitcoin price increase.
In this article we continue tracking the BRC-20 coin ORDI price prediction
after receiving good news from the FOMC. As I mentioned in the very first article I wrote about ORDI – it is a coin that is strongly affected by what Bitcoin price does.
Please review last week’s analysis before continuing to read!
We had a great week in the crypto markets overall as the price of many alt coins grew significantly! And there are other people liking our coin. Let’s look at how price moved:
$ORDI sexy pic.twitter.com/5guGa4j3tF
— Aleex Minimal (@MinimalTrader_) September 19, 2024
How Has ORDI Price Developed During This Week of Massive FOMC News
(ORDIUSDT)
First the Daily chart. We see a clear reclaim and retest of MA50, which is important because we can see it being a resistance area earlier. Price is still on track with the target around $39, which is the confluence between the Fib 0.618 retrace level of the massive move last year in Q4, and the Point of Control level from the Fixed Range Volume Profile.
DISCOVER: Best Penny Crypto To Buy
(ORDIUSDT)
Next we are looking at the 12H timeframe on our BRC-20 ORDI coin. Notice that on the previous screenshot I kept the range of the FRVP, but here I extended it until today and now PoC came lower at ~ $29. That level was again flipped and retested around the time of FOMC announcements and speeches on Wednesday this week.
Something interesting that I noticed was that when I loaded the ORDI/USDT Spot chart from Binance the PoC level did not change, but the lower level has grown there as well and now they are fairly close in volume.
(ORDIUSDT)
On the 4-hour timeframe, we continue to receive new information about price development. The red line is MA200, another important indicator that ORDI broke above. This is a sign of strength in conjunction with Bitcoin’s recent 10% increase.
ORDI’s price grew 20% – double that of BTC. We also can see a pattern of higher lows and higher highs after the high circled in orange, which is also bullish. What we want to see next is a higher high above the one in orange.
EXPLORE: How To Buy Bitcoin Anonymously – September 2024 Guide
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
