Altcoins
SEI and ORDI prices are leading the way, will they hit $0.5 and $50 this weekend?
Markets have turned bullish before the launch of the Ethereum ETFwhich is scheduled for July 23, 2024. With this, the Bitcoin Price Ethereum price has climbed above $66,500 as Ethereum price is eyeing a surge above $3,500 in the next bullish attempt. As such, altcoins are showing immense strength as Sei and Ordi prices have approached crucial zones and a breakout could lead prices to reach the upper targets.
Sei Price Eyes U-Shaped Recovery to $0.6
The latest uptrend has pushed the price above the descending wedge resistance over the past trading day. Currently, the bears are trying to put more pressure on the token, but the bulls seem to remain vigilant about the prevailing trading conditions. Therefore, after a brief consolidation, the SEI price is likely to revoke a strong uptrend and reach the upper resistance near $0.6.
After breaking above the descending wedge, SEI price is attempting to validate a U-shaped recovery as major resistance between $0.43 and $0.45 is hampering the rally’s progress. The RSI is progressive while the DMI has undergone a bullish crossover. Once the ADX displays bullish divergence, SEI price is likely to surpass $0.5 and reach $0.6. Until then, price is likely to maintain an upward consolidation within the curve.
Ordi price could soon hit $100 mark
Ordi price is stuck in a descending wedge and is approaching the upper resistance, with the intention of breaking above. While market participants can expect a slight pullback after the breakout, technicals suggest that the bears may not captivate the levels for long. Therefore, the price could maintain a healthy uptrend and pave the way towards $100 in the coming days.
The supertrend has just turned positive, which means a significant shift in momentum in favor of the bulls. Furthermore, the MACD is showing a decent growth in buying volume, which could lift the levels into the positive range. Once this is done, the price could overcome the bearish influence and possibly trigger a fresh upswing towards the intermediate highs at $50. If these levels are secured, the pivotal resistance zone between $65 and $67 could be secured.
Read also: The ETH party is just beginning: Exchange balances plummet ahead of Ethereum spot ETF launch!