The BRC-20 token Ordinals (ORDI) has experienced a significant surge of +32% recently, breaking out of a period of consolidation. This rally in ORDI is part of a broader trend of BRC-20 tokens gaining momentum following their listing on Binance. With all the buzz surrounding ORDI, investors may be wondering if it’s too late to join the party.
After a substantial increase fueled by trading volume and the Binance listing, ORDI is currently trading at $53.85, representing a 24-hour change of -16.41%. However, despite this recent surge, ORDI is facing resistance at around $65, suggesting a potential decline in the short-term. On the positive side, the 20DMA provides some support at $41.44, about -22% below the current price. The RSI is indicating a need for retracement at 62.20, although the MACD reflects yesterday’s upside momentum at 0.876. Overall, ORDI’s double top structure and the negative RSI signal suggest weakness and potential downside. The upside target remains at the ATH of $69.9, with a potential +29.24% gain. On the downside, the 20DMA at $41.44 poses a possible -23.38% risk. With a risk-to-reward ratio of 1.25, the current entry point for ORDI is reasonable but not overly attractive.
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While the BRC-20 token ORDI has shown significant growth recently, it is currently facing resistance and potential downside. The decision to invest in ORDI at this stage depends on individual risk appetite and investment goals. Alternatively, a unique opportunity to explore is the explosive presale of Meme Kombat. The project’s captivating arena, commitment to transparency, and innovative tokenomics set it apart from traditional investments. Investors looking for diversification and an engaging meme-based gaming experience may find Meme Kombat to be an opportunity worth considering. However, it is crucial to acknowledge that investing in cryptocurrencies carries substantial risks, and thorough research and analysis are necessary before making any investment decisions.