Bitcoin Active Addresses Plummet Nearly 40% in Two Weeks
- Active Address Decline: Bitcoin active addresses dropped from 821,000 to 494,000 within two weeks, a nearly 40% decrease that indicates significantly weakened market participation, particularly during the ongoing price consolidation phase where speculative trading has cooled considerably.
- Strengthened Long-Term Holders: As active addresses decline, long-term holders gain stronger market control, suggesting that reduced volatility leads to diminished participation from short-term traders, thereby allowing long-term investors to exert greater influence over circulating supply.
- Decreased Market Engagement: According to Ali Charts, active addresses were above 600,000 earlier this month but fell below 500,000 as market momentum weakened, indicating that short-term traders are reducing market exposure during sideways price movements.
- Historical Trends Reemerge: Historical trends show that a decline in active addresses during extended consolidation periods often precedes significant directional price movements, prompting investors to monitor this metric closely for shifts in market sentiment.
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Technical Analysis for ONDO
Technical Sentiment Analysis for Ondo (ONDO). As of , Ondo (ONDO) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 3 indicators are flashing buy, while 2 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for ONDO stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, ONDO is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Ondo (ONDO) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.191 | 0.262 | 0.334 | 0.405 | 0.476 | 0.547 | 0.619 |
| Fibonacci | 0.262 | 0.317 | 0.35 | 0.405 | 0.459 | 0.493 | 0.547 |
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