- The ORDI crypto price is making a higher high swing on the charts.
- In the last 30 trading sessions, the ORDI crypto price has advanced by 270.0%
ORDI Token is a digital asset that uses SATs, the smallest units of Bitcoin, to store arbitrary data. It is the first BRC-20 token on the Bitcoin blockchain, a standard for creating compatible and functional tokens. Ordi Token is not related to Ordinals Protocol, which also uses SATs for data.
The trading volume of the Ordinals crypto has declined by 24% in the last 24 hours resulting in a value of $561.74M as trading volume. It brings the ORDI crypto to the 19th ranking for traded volume in the cryptocurrency market.
Moreover, the market cap of the Ordinals is trading flat resulting in $1.48B and a ranking of 54th as per CoinMarketCap. Moreover, the market cap dominance of the crypto is 0.087%.
The volume/market cap ratio of the crypto is 0.3926 and the total supply of Ordinals is 21.0M ORDI. Also, the total supply of the crypto is similar to the maximum supply. It results in a fully diluted market cap of $1.476B.
Ordinals Derivatives Analysis
The open interest of the Ordinals has advanced by 8.2% in the last 24 hours resulting in $434.91M and the derivatives traded volume of the crypto is $3.80B. Despite this, there is a strong fight going on between the sellers and the buyers resulting in a similar amount of long and short liquidations.
ORDI Crypto Technical Analysis
After consolidating inside a range for almost 21 days, the ORDI crypto has broken above the consolidation zone and is currently taking support above the breakout zone. If the price manages to sustain above the breakout levels and breaks above the previous swing, we might witness further higher levels in the crypto price.
ORDI/USD Chart by TradingView
The ORDI crypto price is trading above the 50-day and the 200-day followed by a golden cross. The crypto price is trading at much higher levels than the 50-day EMA, which indicates the possibility of retracement in the ORDI crypto trading price.
The MACD is also giving a buy signal as it is forming a bullish histogram on the daily chart. Moreover, the MACD line and the signal line are trading in a golden cross indicating for further bullish move in the crypto price.
Conclusion
ORDI crypto price has broken out of a consolidation range and is making higher highs. The crypto has a high market cap and demand, but low volume and open interest. This Token is a unique BRC-20 token on the Bitcoin blockchain that uses SATs for data. ORDI crypto price is bullish.
Technical Levels
Support Levels: $45.50 and $62.00
Resistance levels:$80.00 and $95.00
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.