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Renowned technical analyst Captain Faibik has identified strong bullish signals for Polkadot (DOT) and ORDI, as both cryptocurrencies break out of their downtrend channels. With a potential 103.83% increase for Polkadot and a staggering 165.18% rally for ORDI, the charts suggest significant upward momentum.
Polkadot’s Bullish Momentum Gains Traction
On the 3-day chart, Polkadot has successfully exited its downtrend channel, signaling a possible trend reversal. Consecutive green candles indicate growing buying pressure, with the breakout zone of $4.15-$4.50 now serving as a critical support area. If this zone holds, it could provide a strong foundation for further price gains. Long-term support lies at the $3 level.
Polkadot is currently testing resistance at $6.10. A successful break above this level could pave the way for a rally toward the $8.80-$9.00 range, representing a 103.83% upside. Maintaining support within the $5.50-$6.00 range is crucial for sustaining the uptrend. At the time of writing, DOT is trading at $5.76, up 2.30% in the last 24 hours.
ORDI Shows Parallel Breakout Signals
Similar to Polkadot, ORDI has broken out of its downtrend channel on the 3-day timeframe. This breakout, marked by a robust green candle, reflects increased interest from buyers. Holding above the breakout zone could solidify the bullish outlook.
Key support for ORDI lies in the $37.00-$38.50 range, which, if successfully tested, could reinforce its upward trajectory. Initial resistance sits between $41.50 and $44.00, with a break above this level potentially leading to a parabolic rise toward $100, translating to a 165.18% gain. ORDI is currently trading at $38.99, experiencing a minor 0.13% decline over the last 24 hours, but its overall trend remains bullish.
Expert Insights and Future Outlook
According to Turkish NY Radio, Captain Faibik’s analysis highlights critical levels and momentum shifts that traders should monitor closely. Both Polkadot and ORDI are positioned for potential significant gains, provided key support and resistance levels are maintained. As the broader market trends upwards, these altcoins could deliver exceptional returns for investors.
