$ORN: Very bullish action, is it time for a correction?
Fundamentally: $ORN is looking really really strong, here. It's a fantastic project that's aggregating both #Dex and #Cex to provide as much liquidity and lower fees as much as possible for any token swaps. The value that creates is massive and when we see $BNB climb from 40 to 260 dollars!?!? You HAVE to believe that dex projects especially aggregators like Orion Protocol will see their day in the sun, and in the long term, completely replace reliance on centralized exchanges.
Technically: On the left daily chart, we see a VERY bullish trend with pretty much all green all the way up. However, there was a very large doji printed yesterday, which usually means quite a bit of indecision and would normally be a sign of loss of momentum and a shift in the trend. As we can see however, that indecision was smashed by the following daily candle with a current 10% increase underway. On the right hand 4hr chart! I've used my favorite little #Pitchfork tool to paint a pretty nice picture. You can see price action respecting that upper 1.0 dev as resistance, breaking through and pumping directly up to the 1.5, retracing back to the S/R flip, and continuing on upwards. Now we're seeing a failure to hold above that upper 1.5, and a wick down to test the previous s/r at the 1.0. I wouldn't be surprised if we has some more sideways action, perhaps a flash test of the 1.0 or even the 0.5 and then a continuation upwards towards new all time highs.
$ORN is one of the few projects that I'm actually bullish on, and not just in for the short term hype pump gains. As always. I'm over 70% in $LINK and am making smaller moves into these more prospective bets. But I have a pretty good feeling about this one!
#DYOR and good luck!
Technically: On the left daily chart, we see a VERY bullish trend with pretty much all green all the way up. However, there was a very large doji printed yesterday, which usually means quite a bit of indecision and would normally be a sign of loss of momentum and a shift in the trend. As we can see however, that indecision was smashed by the following daily candle with a current 10% increase underway. On the right hand 4hr chart! I've used my favorite little #Pitchfork tool to paint a pretty nice picture. You can see price action respecting that upper 1.0 dev as resistance, breaking through and pumping directly up to the 1.5, retracing back to the S/R flip, and continuing on upwards. Now we're seeing a failure to hold above that upper 1.5, and a wick down to test the previous s/r at the 1.0. I wouldn't be surprised if we has some more sideways action, perhaps a flash test of the 1.0 or even the 0.5 and then a continuation upwards towards new all time highs.
$ORN is one of the few projects that I'm actually bullish on, and not just in for the short term hype pump gains. As always. I'm over 70% in $LINK and am making smaller moves into these more prospective bets. But I have a pretty good feeling about this one!
#DYOR and good luck!
