ORDI$BTC
Current price: The currency is trading within a range of $4.50 - $4.79.
Daily change: Exhibits slight volatility (up by approximately 1% - 3% over the past 24 hours), indicating a temporary stabilization attempt after the recent drop.
Market value: Hovers around $98 - $100 million, which is a modest level compared to its previous peaks.
2. Technical analysis in real-time (What does the chart say?)
General trend: still in a bearish trend on the medium time frame, trading below the "200-day moving average" (which is at higher levels and acts as strong resistance).
Critical watch points:
Resistance (ceiling): facing difficulties breaking the level of $4.80. If it succeeds in breaking it and closing a daily candle above it, it may target $5.00 - $5.10.
Support (floor): the nearest strong support is at $4.15. Breaking this number downwards is considered a very negative signal that could take it to levels of $3.60.
Indicators:
Relative Strength Index (RSI) is in the neutral zone (around 45-55), meaning there is no "overbought" or "oversold" currently; the market is in a state of anticipation.
3. Influencing factors today
Bitcoin status: ORDI follows the movement of Bitcoin like its shadow. Bitcoin's stability today allows ORDI some breathing room, but any shake in Bitcoin will immediately and disproportionately reflect on it.
Weak liquidity: daily trading volume is relatively low (around 20 million dollars), meaning any large sell order could crash the price quickly (known as "price fragility").
Competition: liquidity is still shifting to new projects on the Bitcoin network (like Runes protocol tokens), making ORDI look "old" technically in the eyes of speculators.