ordi/Tether

Will The Declining Correlation Of BTC And ORDI Have A Negative

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Ordinals has a market cap of $774 Million and is ranked 100th in the CMC. ORDI token price has observed a surge of 60% in the intraday session. It is trading near the value of $36.8 with a slight decline in the past 24 hours.
ORDI is currently forming strong bearish candles on the daily chart. It is trading below the 50 and 200 EMA with a negative crossover in the past. Meanwhile, the correlation of the BTC and ORDI has plunged to 0.8 from the highs of 0.97. The token price upside trend can see a halt near the value of $40. Meanwhile, the support price can be seen near $25.
The RSI of ORDI is at 41 with a strong negative slope. The overall sentiment of the RSI and MACD is bearish in nature.

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