Orion protocol is an awesome chart. It's behaving in a pretty clear manner, with a long cup shaped buildup, a break above ATH and an almost perfect retest and a continuation above previous all time highs, that's now respecting fib level's quite clearly. If the PA can get above the $7.31 levels, then I would not be surprised to see this continue to behave in the polite manner that it has been doing and continue on towards that golden 1.618 fib and the $10.50 range.
Fundamentally? This project is freaking awesome. Orion Protocol is a Decentralized Exchange that aggregates liquidity from every centralized exchange, decentralized exchange and swap pool in the entire global crypto market. This solves the problems that Dex's currently face, which is how silo'd they are. Most all of the dex's are also built on the ETH network, which limits the currencies that can be exchanged and, if you've tried UNI or any others you know how prohibitively expensive they are. We're talking $100 in Eth fee's to buy any amount of a token on Uniswap...
I'm bullish on this project for a long term play. I think the most profitable companies in this crypto revolution will be the ones selling the tools to the people chasing the "gold rush". ORN is a beast in waiting.
PS: At this moment the crypto market's sentiment is extremely volatile, one morning we'll all be extremely bullish and everyone will be super excited, the next day there will have been some negative price action and everyone will be calling the top. This is happening over and over and sentiment is acting as if it's stuck consolidating in a range. I would treat your trading at the moment as you would with any price action that's stuck in a range. Trade the breakout in either direction, wait for the trend to be re-established, and be patient in between.
Good luck fam.
Fundamentally? This project is freaking awesome. Orion Protocol is a Decentralized Exchange that aggregates liquidity from every centralized exchange, decentralized exchange and swap pool in the entire global crypto market. This solves the problems that Dex's currently face, which is how silo'd they are. Most all of the dex's are also built on the ETH network, which limits the currencies that can be exchanged and, if you've tried UNI or any others you know how prohibitively expensive they are. We're talking $100 in Eth fee's to buy any amount of a token on Uniswap...
I'm bullish on this project for a long term play. I think the most profitable companies in this crypto revolution will be the ones selling the tools to the people chasing the "gold rush". ORN is a beast in waiting.
PS: At this moment the crypto market's sentiment is extremely volatile, one morning we'll all be extremely bullish and everyone will be super excited, the next day there will have been some negative price action and everyone will be calling the top. This is happening over and over and sentiment is acting as if it's stuck consolidating in a range. I would treat your trading at the moment as you would with any price action that's stuck in a range. Trade the breakout in either direction, wait for the trend to be re-established, and be patient in between.
Good luck fam.
Comment:
I'm laughing while I look at the way this played out. Fib levels are ridiculous because of how self fulfilling they are! Either way. What a fantastic chart. Flash crash dip, and a strong recovery! I wouldn't even be surprised if the daily candle closes bullish.
I'm staking my ORN at the moment, so I won't be attempting to trade this. Fingers crossed, longer term play. Let's get it.