- ORDI Price & Volatility Analysis
- Can ORDI Price Mark The End Of A Correction?
- Technical Analysis and Forecast
The price of ORDI shows impressive performance, gaining over 28% in a week. Broader market optimism fueled the price recovery, allowing ORDI to recover most of the losses it experienced earlier this month.
ORDI Price & Volatility Analysis
ORDI's price has surged by nearly 28% in a week, outperforming the global crypto markets that saw an 8.60% rise. However, compared to its peers, such as other BRC-20 cryptocurrencies that increased over 31%, ORDI appears to be lagging. Volume analysis highlights a 130% increase in demand, with intraday transaction volume at $160.92 million. ORDI's market capitalization stands at $764.28 million, ranking 83rd in the crypto space. The volume-to-market capitalization ratio is 20.94%, indicating high volatility. Both circulating and total supply of ORDI tokens are identical to Bitcoin, at 21 million.
Can ORDI Price Mark The End Of A Correction?
The daily chart shows bullish waves in the short term, indicating a comeback of buyers. However, in the long term, the price remains in a correction phase, facing trendline resistance. Community sentiment indicators by CoinMarketCap suggest 73% bullishness and 27% bearishness, confirming a positive trend.
Technical Analysis and Forecast
From a technical standpoint, the ORDI price has surpassed the 20 and 50-day EMAs, indicating a bullish short-term outlook. However, the price is 12% below the 200-day EMA, suggesting a bearish long-term trend. If the price continues to rise and surpasses the $42 level, it may validate a bullish reversal in the long term. Conversely, if the price hits trendline resistance, it could lead to selling pressure and a drop to the $25 support level.
ORDI has surged over 28% in a week, recovering from earlier losses and outperforming global crypto markets, but still lagging behind its peers. Despite short-term optimism, long-term investor confidence remains low as ORDI is still in a correction phase. Technical analysis shows that ORDI has surpassed the 20 and 50-day EMAs, indicating short-term bullishness, but it is still 12% below the 200-day EMA, suggesting a bearish long-term trend. A rise above $42 could confirm a long-term bullish reversal, while a drop to $25 remains a possibility in case of a pullback.
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