Altcoins
SEI and ORDI prices are at the top of the chart. Will they reach $0.50 and $50 this weekend?
Markets have turned bullish before the spot launch of the Ethereum ETFwhich is scheduled for July 23, 2024. With this, the Bitcoin Price has risen above $66,500, while Ethereum price is eyeing a rise above $3,500 in the next bullish attempt. Due to this, altcoins are showing immense strength as Sei and Ordi prices have approached crucial zones and a breakout could see prices reach the upper targets.
Sei Price Eyes U-Shaped Recovery to Reach $0.6
The latest rally has caused the price to rise above the falling wedge resistance during the last trading day. Currently, the bears are trying to put more pressure on the token, but the bulls seem to remain vigilant on the prevailing trading conditions. Therefore, after a short consolidation, the SEI price is expected to revoke a strong uptrend and reach the upper resistance near $0.6.
After breaking the falling wedge, SEI price is trying to validate a U-shaped recovery as the major resistance between $0.43 and $0.45 is hampering the rally’s progress. The RSI is incremental while the DMI has undergone a bullish crossover. Once the ADX shows a bullish divergence, SEI price is expected to break out of $0.5 and reach $0.6. Until then, the price is expected to maintain an ascending consolidation within the curve.
Ordi price could soon hit the $100 milestone
Ordi price is stuck in a falling wedge and is approaching the upper resistance with the intention of breaking it. While market participants may expect a slight pullback after the breach, technicals suggest that bears may not capture the levels for long. Therefore, the price may maintain a healthy recovery and pave its way towards $100 in the coming days.
The supertrend has just turned positive, which indicates a significant change in momentum towards the bulls. Also, the MACD is showing a decent growth in buying volume, which could push the levels into the positive range. Once that happens, the price could rise above the bearish influence and eventually trigger a new upward run towards the intermediate highs at $50. If these levels are secured, the key resistance zone between $65 and $67 could be secured.
Read also: The ETH party has just begun: stocks drop ahead of Ethereum spot ETF launch!