STX, ORDI Prices Rally as Bitcoin Pumps Above $50K

• STX and ORDI showed a strong correlation with BTC as the prices rallied.
• STX might kickstart a correction to $1.76 if BTC drops below $50,000.
• ORDI’s bearish thesis could be invalidated if it stays above the 9 and 20 EMAs.

Bitcoin’s jump above $50,000 has positively affected the prices of Stacks (STX) and Ordi (ORDI). According to data from CoinMarketCap, STX’s price increased by 6.19% in the last 24 hours and retested $2.

Meanwhile, ORDI registered a 15.20% increase, surging past $70. Both ORDI and STX have links to Bitcoin. For Stacks, its fundamentals as a layer two (L2) on the Bitcoin network meant its price has a strong correlation with the number one cryptocurrency.

Likewise, Ordi’s position as the top BRC-20 token indicates that when BTC climbs, it follows. Also, when the coin plunges, historical data shows that projects linked to it face correction.

Stacks (STX) Price Analysis

STX’s 4-hour chart suggested there was further upside potential. At press time, STX was at $1.98, after trading with a bullish bias.

Supporting a continued bullish trend is the Awesome Oscillator (AO) indicator. As of this writing, the AO was 0.16 with gree…

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