- ORDI has advanced by 360% in the last 1 year.
- 100% of ORDI are circulating in the market.
In the last 30 days, the token price traded in green for only 13 days. Additionally, the price is down by 66% from its all-time high price of $96.17. Also, the price for the token reached that level on March 05, 2024.
The market cap of Ordinals token is $672.869 Million which is up by 6.32% over the last 24 hours. Also, the market cap ranking of the token is #91 in the global crypto market as per CoinMarketCap.
The crypto has very good liquidity – 18.32% of its market cap was traded in the last 24 hours. This further resulted in a traded value of $124.025 Million which further witnessed a decline of 2.51%.
The circulating supply of the token is 21.0 Million ORDI which is similar to Bitcoin’s maximum supply. Also, the fully diluted market cap of the token is similar to its spot market cap.
Price volatility is at 18.20%. This indicates that uncertain fluctuations in the price of the token might be witnessed in the future.
The top 10 holders of Ordinals have 71.60% of the maximum supply which gives a major chunk of power in their hands. Additionally, the number of holders of the token has advanced over time, reflecting an increase in demand.
The largest holder of the token alone has 42.86% of the supply resulting in a quantity of 9.0 Million ORDI. Further, in the last seven days, the same address diluted 162.9K ORDI.
Ordinals Token Derivatives Data Overview
The value of the derivatives traded volume for Ordinals token has advanced by 12% in the last 24 hours from the press time. This shows a rise in traders and investors interest in the token.
The liquidation chart of the token shows higher long liquidation over a long time which shows profit booking in long positions. This has led to a strong decline in the price of the crypto.
Despite this, in the last 24 hours, shorts worth $605.44K were liquidated against the value of the longs liquidated in lower resulting in $464.99K.
ORDI Token Technical Analysis
For the past five months, ORDI has been confined within a falling wedge pattern and has declined to certain lows.
A lower low structure can be seen on the daily chart of ORDI. If the price of the token breaks above the falling wedge and sustains above the same, following a good surge in trading volume, a strong uptrend might rule the price in future.
ORDI/USD Chart by TradingView
The technical indicators shows higher chances of a further decline in the price of the token as the Supertrend is bearish on the chart.
The price of the ORDI token is trading below the 50-day and the 200-day EMAs which further follows a death cross. MACD was in negative trajectory at press time. The MACD and the singal line are trading in a bearish cross which shows weakness in the price of the crypto.
The RSI has declined below the 50-level and has hit the oversold zone. This shows declining momentum in the price.
Despite a 360% gain over the past year, ORDI’s bearish sentiment, high volatility, and significant holder concentration create uncertainty.
The token is within a falling wedge pattern at press time. Technical indicators suggest potential declines. A breakout above the wedge could signal a trend reversal, but caution is advised.
The support levels for the ORDI token price are $2.65 and $18.80. Also, the resistance levels for the same are $62.0 and $89.00.
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
