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The Orca market has stayed below the $5.50 mark, even at its all-time high. However, the market subsequently experienced a downturn but remained above the $2.00 mark. Today’s trading activity has begun with hopes of price action rising back above the $3.00 mark. Let’s examine how this may proceed.
Key Price Levels:
Resistance: $3.00, $4.00, and $5.00
Support: $2.00, $1.50, and $1.00.
Orca Price Action Faces Headwind Below the $3.00 Mark
While ORCAUSDT has seen more than a 6.17% increase in price, downward forces have reduced profits. The last price candle is the most conspicuous bullish one in recent times. While previous sessions saw the market cross below the 20-day Exponential Moving Average (EMA) line, today’s trading has found support above this indicator line.
An upper shadow above the last price candle shows the effect of headwinds. Meanwhile, the Stochastic Relative Strength Index (SRSI) indicator lines are still rising, indicating that upside forces are determined to push the market higher.
Bears Threaten to Dash Upside Hopes in the ORCAUSDT Market
On the Orca 4-hour price chart, bears appear to be growing stronger. Following the significant price increase in the previous session, headwinds seem to have been awakened. The last price candle on this chart poses a significant threat to upside hopes. While price action remains above all the EMA lines, the decline in the ongoing session has brought the market down toward the psychological price mark of $2.500 as support.
The SRSI indicator lines are now converging for a downward crossover at the 80 mark, which will strengthen downward forces and cause a steeper price decline. However, since the market stays above the EMA lines, participants may want to stick to bullish crypto signals, as the market has the potential to hit the $3.00 mark.
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