A Crypto Strategist Predicts Another Surge for Bitcoin Ordinals Token
A well-known crypto strategist believes that the Bitcoin Ordinals (ORDI) token is set for another significant price increase. Altcoin Sherpa, an anonymous analyst, remains bullish on ORDI, a project designed to enhance the value of each Satoshi, the smallest unit of Bitcoin. According to Altcoin Sherpa’s chart analysis, ORDI is currently in an uptrend after rebounding from the key support level of $69.80. The token reached an all-time high of $81.96 this week, marking a more than 22-fold gain since its September 29th close at $3.59. Although it has retraced slightly and is currently trading at $75.52, Altcoin Sherpa sees potential for further growth.
Solana Competitor Sei Network Also Shows Promise
Altcoin Sherpa also identifies potential opportunities in the Solana (SOL) competitor, Sei Network. He suggests that a possible Fibonacci retracement level of $0.36 could be a buying opportunity for SEI in the future. However, he acknowledges that SEI is currently maintaining its upward momentum and remains one of the strongest altcoins to trade in this cycle. At present, SEI is trading at $0.57, reflecting a 24.1% increase in the last 24 hours.
Bonk May Be Headed for a Bearish Pattern
Altcoin Sherpa’s analysis extends to Bonk (BONK), a memecoin that may be exhibiting a bearish pattern with lower high prices. He advises traders to prepare for a potential sell-off as he anticipates a lower high incoming for BONK. Currently trading at $0.0000153, BONK has experienced a 12.3% increase in the last 24 hours.
Hot Take: Bitcoin Ordinals Token Poised for Further Growth
According to crypto strategist Altcoin Sherpa, the Bitcoin Ordinals (ORDI) token is showing signs of another significant surge. With an uptrend confirmed after bouncing off a key support level, ORDI has already achieved a more than 22-fold gain since September 29th. While it has retraced slightly, Altcoin Sherpa believes that ORDI is gearing up for another leg of growth. In addition to ORDI, Altcoin Sherpa also highlights the potential of Sei Network and identifies Bonk as a memecoin likely to experience a bearish pattern. Crypto enthusiasts should keep an eye on these altcoins as they navigate the volatile crypto market.
By
By
By
