BOSS Wallet data source, Ordinals today's market news, ORDI latest price: $40.07, 24-hour drop -7.5%, trading volume $416 million

Based on candlestick chart analysis, the current trend is oscillating. Compared to 21:00, there was a significant drop, and there has been a rebound since 17:00. When prices rise while trading volume decreases, it usually indicates that the upward momentum in the market is weakening, and the number of buyers is decreasing.
This divergence between price and volume is usually due to a lack of selling pressure. In this case, future prices may retrace or consolidate sideways. Due to the lack of trading volume support, it is difficult for prices to maintain their rise, and one should be cautious of the risk of a pullback at high levels. Investors should pay attention to whether trading volume can accompany price increases and whether new buying pressure enters the market.
Overbought condition, decreasing trading volume, rising prices. Judging by the Williams indicator, it is currently in an overbought state. Recent trading volume has decreased, with trading volume lower than in previous hours, while prices are rising and trading volume is falling: upward momentum is weakening.

Upward momentum is weakening, or facing pullback risks. It is recommended to keep a wait-and-see approach, focusing on changes in trading volume and new buying pressure.

The above content is for reference only and does not constitute investment advice.