ORDI is currently in a shallow rebound phase—price around 4.03, having already surpassed the 7/25 hourly moving average (about 3.99-4.00), but not yet crossing the 99-hour moving average (about 4.12). To be honest, this position is somewhat ambiguous, leaning bullish but with a question mark.

The key is whether it can cleanly and decisively break through the 4.12-4.20 range. If it can stabilize above this level, there is a chance to push towards 4.40-4.80, with the previous intraday peak of about 5.08 serving as a distant target.

Conversely, if it pulls back, recent support is around 3.95-3.85, and further down, a stronger support level is at 3.585.

Volume is quite interesting—there was a large bullish candle before, followed by a retreat to a low and mild level. For the rebound to truly continue, sustained trading volume must follow, and the price needs to decisively break above the 99-hour moving average. Otherwise, it remains in a phase of repeated testing.