#ORNUSDT
$ORN broke out from short term descending resistance, break above upper line of triangle will head up price to $18 and $19.
break down from lower line of triangle will make invalid the bullish way.
The Orion project is one of the most successful projects in the Solana ecosystem. So its growth potential is high according to market conditions and Solana's growth.
Keep holding tightly. Good news coming:
1-margin-lending-mainnet
2-liquidity-boost-plugin
3-first-DApp-live
4-Fantom-integration-with-orion-
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"Good luck"
Orion, ORN / USDT : Mid Term Trade Idea
flip of 6.15$ as support and it will easily move towards EMA100/200 confluence zone at 7.5$ and 1-D resistance at 9$
SL: at 4.9$
MAs are adequately lined up!
MACD is on the brink of a cross in the 2H, thus boosting the chances of a positive cross in the 4H.
RSI is ready to climb higher.
ORN is a great project for long-term investors!
ANALYSIS 🔎
- ORNUSDT is bounded in the descending channel (DC).
- Price is testing the descending channel support.
- The impulsive downtrend move is bounded in the falling wedge (FW) pattern.
- A falling wedge pattern is a bullish reversal pattern.
- RSI is printing a bullish divergence signal.
- There's a breakout potential.
BUY ENTRY ⬆️
- Breakout above the...
After the release of their trading terminal, ORN has been in a huge selloff (typical sell the news scenario). However, the retracement has been going on for longer than expected and there is still huge sell volume, causing ORN to be kind of oversold right now. According to Binance's order book depth, there's a huge wall of buy orders at around $17.4, so we can...
$ORN is on a healthy bull trend, and will likely continue to repeat this pattern. Fundamentals are strong an nothing really indicating a downward price movement fundamentally.
Bounce on the Support Line + EMA is most probable. MACD also showing signs of a reversal to the upside on the 4hr chart.
The green path: Orion has been riding these pitchfork channels for a while now. I wouldn't be surprised to see it continue this steady climb towards that next major 2.618 Fib level at around $35 dollars.
The orange path: The next possibility I could see happening is $ORN forming another pennant shape, and having that play over the next few days. With pennants...
Bouncing on support / previous resistance... Mainnet about to be announced with many bullish news coming the next couple of weeks. This is going to sky rocket hard!
FUNDAMENTAL:
The company improves EBITDA YoY +9.0% but misses Q4's by -31.3%.
Net Sales (YoY) +2.6% but missed Q4 -7.0%
Outlook for 2021:
Net sales in 2021 slightly lower than in 2020.
Operating profit estimated to be lower or clearly lower than in 2020.
TECHNICAL:
Fibonacci Retracement level suggests Orion's about to break 0.618 level downwards up until 29.60...
An extension and more detail to my previous chart on ORN which you can find here...
Don't be a rookie and sell this one too early. You'll regret it. In fact, given the token economics and 16 different revenue streams that can be earned from just holding and staking...
WATCH FOR RSI TOUCH 80 ON THE WEEKLY FOR THE TOP.
I THINK A FEW MORE DEPTHS UP TO $ 2.70, THE WALL STREET BET IS HERE NOW ON CRYPTO AND THEY TOOK DOGE AND SEND TO THE MOON , IT'S ABOUT TIME IS ONLY TIME FOR THEY TO FIND ORION.
ORION IS THE PIECE THAT WILL TAKE CRYPTO TO ANOTHER LEVEL, REMEMBER THAT ORION IS THE AMAZON IN CRYPTO, BUT NO CUSTODY IS AMAZING.
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