Beincrypto 03 Sep 2024

Bears Spooked: ORDI Price’s 23% Surge Causes $2.38 Million in Shorts Liquidations 📈

USA Bitcoin ORDI

ORDI's price saw a significant increase at the start of the week, as the broader crypto market experienced a slight recovery. This rise is bolstered by consistent investor support.

The Chaikin Money Flow (CMF) indicator shows continued inflows since late June, suggesting sustained capital movement.

Yesterday, ORDI experienced short liquidations totaling $2.38 million. This could prompt short traders to reassess, potentially reducing downward pressure and paving the way for gains.

ORDI’s price rose 23% in 24 hours, currently at $32.40. If positive trends persist, it could breach the resistance level of $35.56, with the next major resistance at $46.53.

If ORDI fails to breach $35.56, it may face a downturn as investors secure gains, potentially dropping to $30.00 and invalidating the bullish outlook.

Source: beincrypto.com ↗

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