Would ORDI Crypto Price Show Deterioration or Take a Hault?

• The ORDI price seems to be unable to exceed the 20-day EMA.
• The Ordinals crypto price has lost around 56% since March, demonstrating the sellers’ grip.

Since its launch date, the ORDI crypto price has witnessed intense buying pressure but failed to overcome the $90 hurdle. The asset price consolidated for 5 months at the top, triggering a breakdown in April. 

The Ordinals crypto price has been struggling below the 20-day exponential moving average for the past few weeks. The digital asset price has recently extended to the 20-day EMA but failed to surpass it. 

When writing, the Ordinals price traded at $38.23 with an intraday loss of 1.90%. The current market capitalization is $803.91 Million, and the 24-hour trading volume is $166.38 Million. The circulating supply and total supply is 21,000,000 ORDI.

Technical Analysis of ORDI Crypto Price Over 1-D Timeframe

According to the technical chart, the Ordinals price has been negative for the past few weeks. It has failed to reach the last swing high and currently faces resistance from the 20-day EMA and experiences the bearish forecast. 

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If the digital asset price closes the current candlestick below the previous one (at the time of writing), it may show weaknesses. If the sellers show interest, it may keep declining with the flow of the current trend.

Alternatively, if the price bounces back and sustains over the 20-day EMA, it may extend to the major resistance level of $51. Suppose it triggers a breakout from the $51 mark after the consolidation phase; the bulls may eye for an all-time high.

Trading Volume Lost Around 80% in a Month; What’s Next?

Based on the given data, the trading volume has decreased by 80% in a month, and the price has also performed negatively. For the short term, the trading volume is up by 150% in just 3 days, and the price has also gained short-term bullish momentum.

ORDI Crypto Active Social Users vs Price Analysis

These graphs show that social users have remained constant, but the price has reacted negatively. Suppose the number of active social users increases; it may impact the price positively.

Meme Coins Performance After ‘Roaring Kitty’ Returns

9 Top Meme Coins to Watch Since “Roaring Kitty” has Returned to his Desk

1) ORDI – Bitcoin Ecosystem
2) GME – Solana Ecosystem
3) SHIB – Ethereum Ecosystem
4) DOGE – The OG
5) SNEK – The Cardano Ecosystem
6) COQ – Avalanche Ecosystem
7) FOXY – Linea Ecosystem (ETH L2)
8) BRETT -…

— Altcoin Daily (@AltcoinDailyio) May 14, 2024

ORDI is a part of the Bitcoin ecosystem. Ordinals has gained traction due to its association with the Ordinals protocol. Roaring Kitty crypto price has witnessed strong buying momentum after its return.

Conclusion

Sure, based on the information provided, it seems that the ORDI crypto has been facing several challenges, including struggles to surpass the 20-day EMA, a significant decrease in trading volume, and resistance from the 20-day EMA. The active social users have remained constant, and the price has reacted negatively. It will be interesting to see if the number of active social users increases, as this may impact the price positively. Additionally, the association with the Ordinals protocol has gained traction for ORDI. 

Technical Levels

The Ordinals crypto price may face resistance from the $51.00 and $90 levels. Moreover, the asset price may take support on the $35 and $26 marks.

Disclaimer

This article is for informational purposes only and provides no 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.