- ORDI breaks key neckline, signaling a potential bullish reversal on strong momentum.
- MACD and RSI support rally, but price must hold $10.80 to sustain upward movement.
- Long-term forecast sees retracement to $6.44, despite current bullish breakout signs.
The price of ORDI (Ordinals) has sparked attention in the crypto market with a sudden breakout from a critical resistance zone. Backed by strong trading momentum, ORDI surged past the $10.80–$11.00 neckline level signaling a potential bullish reversal.
According to popular analyst Crypto TA King, this breakout could confirm an inverse head and shoulders pattern on the 4-hour timeframe. If ORDI holds this level during a retest, bullish continuation toward the $12–$13 range could unfold. Despite the optimistic signal, June’s outlook presents a mixed bag, with technicals showing momentum but broader trends hinting at caution.
Momentum Builds as Breakout Confirmation Approaches
ORDI has rallied to $10.97, posting a 13.12% gain in the last 24 hours. This strong surge was triggered by a technical breakout above key neckline resistance. The breakout zone, previously tested multiple times, had become a significant hurdle for bulls. With the price now above it, all eyes are on the retest zone around $10.80 to determine the next move.
ORDI/USD daily price chart, Source: TradingView
Supporting this momentum, the MACD histogram recently turned positive. This shift suggests early signs of a potential trend reversal. Meanwhile, the RSI is hovering around 61–62, indicating healthy bullish momentum without entering the overbought zone.
These technical indicators align with Crypto TA King’s analysis of the chart’s bullish setup. However, the price must hold above this support to maintain its upward trajectory.
Long-Term Signals Suggest Investor Caution
Despite the recent rally, historical trends show that ORDI has faced strong selling pressure. From late 2023 through early 2024, the asset experienced significant outflows, dragging the price from nearly $57 down to around $10. These outflows, particularly around November and December, reflect persistent investor skepticism.
Source: Coinglass
From late February onward, ORDI has traded within the $10–$15 range. Although there was a brief recovery to near $20 by May, resistance levels remain firm at $20 and $57. The current price sits near long-term support, but without sustained buying pressure, a reversal could be short-lived.
Looking ahead to June 2025, Coincodex analyst forecasts predict a potential retracement. Analysts expect the price to hover near $6.44, with a range between $5.33 and $7.33. This projection would mark a 33.74% decline from current levels, hinting at possible bearish pressure despite May’s breakout.
