The altcoin zone rotates to inscription, what is the outlook for ORDI?

According to the market data from Gate.io, in the past 24 hours, after a slight decrease due to the turmoil caused by the Korean martial law, the old high-market-value altcoins have once again resumed their pump trend. RWA, Layer1, Tron ecosystem, and other zones such as inscription have experienced significant increases. inscriptionleading ORDI, SATS, RATS have reached new highs in recent days, with daily gains maintained at over 15%.

Specifically, the current circulating Market Cap of ORDI has reached $970M, with a circulation rate of 100%, and a 24-hour volume of $98.17M. Considering the above data, what is the future outlook for ORDI and how should it be traded?

The inscription is written by using the Ordinals protocol to write content created by Satoshi. The inscription does not require separate tokens, sidechains, or changes to BTC. What the Ordinals protocol does is write information to each Satoshi, such as text, images, audio, and video. Due to the BTC block size limit, the main inscribed information is primarily in the form of text and images, namely Non-fungible Tokens and tokens. ORDI is the leading token generated by the Ordinals protocol for this track.

Market Data

Latest price: $47.18 24-hour increase: +15.85% 24-hour high: $52.84 24-hour low: $40.05 24-hour Trading Volume: $98.30M 24-hour net fund inflow: -$21.30M Long-Short Ratio: 1.75:1 (Bullish) RSI: Normal support level: $42 resistance level: $58 ##Trading Strategy Recommendations

Strategy One: Short-term Upside Short Selling

Direction: Bearish Get on board price: $58~$60 (close to medium to long term resistance level) stop loss price: $66 Target price: $46~$48 (close to short-term support level) Reason: According to the law of Technical Analysis, when the current coin price pumps to the interim high point of $58~$60 in early June, there may be profit-taking in the market. From the perspective of the daily candlestick, if the market stabilizes and pumps to this resistance level, the RSI will show an Overbought signal, which is suitable for trying short-term short orders.

###Strategy 2: Buy on medium-term pullback Direction: bullish get on board price: $41-$42 stop loss price: $37 Target price: $50 Reason: From the daily candlestick level, ORDI has formed a strong bullish morning star pattern in the past three candlesticks, and the price has broken through a new high in nearly five months. If the subsequent price shows a downward trend to the support level of $41-$42, the market will likely inject funds here again to push up the price. Investors can try to go long. It is suitable for short-term traders to take profit by trying to go long at the support level. ##Outlook As the first Bitcoin inscription Token, ORDI coin has long occupied about 50% of the total Market Cap of the BRC-20 zone, benefiting from the rise and development of the Bitcoin ecosystem, and has formed a highly cohesive community and strong Consensus.

Considering the conditions of the recovery of altcoin zone Token, relaxed regulatory environment, and the relatively low position of ORDI coin, ORDI coin is expected to achieve a substantial increase in the future, but investors still need to proceed with caution.

Author: Charle Y., Gate.io Researcher The text represents only the author's point of view and does not constitute any trading advice. Investment carries risks, and decisions should be made with caution. *The content of this article is original, and the copyright belongs to Gate.io. If you need to reprint, please indicate the author and source, otherwise legal responsibilities will be pursued.