- ORDI trades near critical $18 support, with RSI at 30.43 suggesting oversold conditions and potential stabilization.
- Bearish momentum persists with MACD confirming a downtrend; MA50 at $24.35 acts as dynamic resistance.
- Break below $18 risks testing $15, while rebound potential depends on increased volume pushing towards $22 resistance.
The broader crypto market is seeing heightened volatility which has not excluded ORDI price movements. Data from Coinglass shows a $1.28 billion in liquidations following Donald Trump’s speech, which excluded any mention of digital assets.
This omission led to sharp market fluctuations, with Bitcoin’s value dropping to $103,500. Altcoins like Solana and Cardano had high losses. Speculation regarding a potential U.S. Bitcoin Strategic Reserve persists, though regulatory uncertainties keep its realization hard.
ORDI’s Price Action in the Market
ORDI has resembled the broader market bearish trend, seeing its price decline notably. On January 21, 2025, at the time of writing, ORDI traded at $19.05, a 13.61% drop in the past 24 hours and a 27.47% decrease over the past month.
Its market cap has dropped by 13.48% to $400.05 million, while trading volume fell by 19% to $215.68 million. In the last 24 hours, ORDI’s price traded between $18.14 and $19.56, showing the ongoing downward pressure.
This decline aligns with a broader trend since its peak above $50 in early December. The price trades near an important support level of $18-$19, indicating potential consolidation at this level.
Technical Indicators and Trends
ORDI’s RSI is at 30.43, nearing the oversold levels. This suggests that although bearish momentum is strong, a potential reversal or stabilization could be imminent as investors buy dips. The MACD indicates a bearish crossover, with the MACD line at -2.28 and the signal line at -1.83, supporting the bearish sentiment. Moving averages further show the bearish trend.
The MA50 currently at $24.35 acts as dynamic resistance, while the MA200 at $26.28 trends downward. The formation of a death cross in late December, where the MA50 crossed below the MA200, continues to signal sustained bearish dominance.
Support and Resistance Levels to Watch
Immediate support for ORDI is at $18, with crucial long term support at $15 if the $18 level fails to hold. On the upside, immediate resistance is at $22, followed by stronger resistance at $30. The volume remains moderate at 702.1K, indicating a lack of strong buying pressure to reverse the current trend.
A bearish scenario could unfold if ORDI breaks below the $18 support, potentially testing the $15 level. On the positive side, a bullish scenario would require a rebound from the $18-$19 support range, with increased volume pushing the price towards the $22 resistance level.
