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 the candlestick chart analysis, it is currently a fluctuation trend. Compared to 21:00, it has dropped significantly, but has rebounded compared to 17:00. When the price rises while trading volume decreases, it usually indicates a weakening of upward momentum in the market and a reduction in the number of buyers.
This phenomenon of divergence between volume and price is usually due to a lack of selling pressure. In this case, the future price may correct or move sideways. Due to a lack of trading volume support, it is difficult for the price to maintain its rise, and there is a risk of a high-level pullback. Investors should pay attention to whether the trading volume can accompany the price increase and whether new buying pressure enters the market.
Overbought condition, reduced trading volume, rising prices. Judging by the Williams indicator, it is currently in an overbought state. Recently, trading volume has decreased, with trading volume reduced compared to the previous hours while prices are rising, indicating weakened upward momentum.

Weakened upward momentum or facing a risk of correction, it is advisable to remain cautious and pay attention to changes in trading volume and new buying pressure.

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