What Is the Outlook for ORDI As High Market Cap Established Altcoins Resume Their Upswing?
According to Gate.io’s market data, in the past 24 hours, established high-market-cap altcoins have shown a slight decline after the recent turmoil caused by regulatory measures in South Korea, but they have resumed their upward trend. Notable sectors such as RWA, Layer1, the Tron ecosystem, and in_script_ions have all experienced significant gains, with leading in_script_ion tokens ORDI, SATS, and RATS breaking through recent highs, maintaining an intraday increase of over 15%.
Specifically, ORDI currently boasts a circulating market cap of $970 million, with a circulation rate of 100% and a 24-hour trading volume of $98.17 million. Given these figures, what is the future outlook for ORDI, and how should it be traded?
In_script_ions are created by using the Ordinals protocol to write content into satoshis, without the need for separate tokens, sidechains, or alterations to Bitcoin. The Ordinals protocol assigns information—such as text, images, audio, and video—to each satoshi. Due to Bitcoin’s block size limitations, the majority of in_script_ions (or mints) are primarily in the form of text and images, similar to NFTs and tokens. ORDI is the first in_script_ion generated through the Ordinals protocol and serves as the leading token in this sector.
ORDI Market Data
Latest Price: $47.18
24-hour Change: +15.85%
24-hour High: $52.84
24-hour Low: $40.05
24-hour Volume: $98.30M
24-hour Net Inflow: -$21.30M
Bulls vs. Bears Ratio: 1.75:1 (Bulls Dominant)
RSI: Normal
Support Level: $42
Resistance Level: $58
Trading Strategy Suggestions
Strategy 1: Short-term Downside Sell-off
Direction: Bearish
Entry Price: $58-$60 (Close to Medium-Long Term Resistance Level)
Stop Loss Price: $66
Target Price: $46-$48 (Close to Short-term Support Level)
Reason: According to technical analysis principles, when the current price rises to the resistance level of $58-$60 set in early June, the market may experience profit-taking. From a daily perspective, if the price steadily rises to this resistance level, the RSI will show overbought signals, making it suitable to consider a short position for short-term trading.
Strategy 2: Medium-Short Term Buy on Dip
Direction: Bullish
Entry Price: $41-$42
Stop Loss Price: $37
Target Price: $50
Reason: From a daily chart perspective, the last three candlesticks of ORDI have formed a strong bullish morning star pattern, and the price has broken through a five-month high. If the price declines to the support level of $41-$42, there is a high probability that the market will inject funds to push the price back up, making it an opportunity for investors to consider going long. This strategy is suitable for short-term traders looking to capitalize on support levels for profit.
Outlook
As the first Bitcoin in_script_ion token, ORDI occupies about 50% of the total market cap of the BRC-20 sector. Benefiting from the rise and development of the Bitcoin ecosystem, it has formed a highly cohesive community and strong consensus. Considering the recovery of altcoin tokens, the easing of regulatory environments, and ORDI’s relatively low price conditions, ORDI is expected to achieve significant price increases in the future; however, investors still should proceed with caution.
