$ORCA is up 29% in a day and 53.5% on the week, and it did it while BTC barely moved, up 0.16%. Nobody is being carried here.
Price is 2.555. The week's range runs from 1.557 to 2.75, so ORCA has gained about 64% off the low and now sits 7.1% under the high. Volume is roughly 24.3M USDT, 7.75 times its 7-day average. That multiple is what separates a real move from a thin one.
Hourly RSI is 73.8. Hot, but I have seen coins run for days from there, so by itself it does not stop me.
The number that decides this for me is 2.75. A close above it on volume still several times normal would tell me buyers are not done after a 53% week. Until then I treat 2.555 as the middle of a range, which is a bad place to buy and a worse place to short.
What I watch instead is the retreat. If ORCA falls back toward 2.00 and volume drops with it, the past week was one wave of buying and not a trend, and I would leave it alone.
#Orca #SolanaDeFi
Price is 2.555. The week's range runs from 1.557 to 2.75, so ORCA has gained about 64% off the low and now sits 7.1% under the high. Volume is roughly 24.3M USDT, 7.75 times its 7-day average. That multiple is what separates a real move from a thin one.
Hourly RSI is 73.8. Hot, but I have seen coins run for days from there, so by itself it does not stop me.
The number that decides this for me is 2.75. A close above it on volume still several times normal would tell me buyers are not done after a 53% week. Until then I treat 2.555 as the middle of a range, which is a bad place to buy and a worse place to short.
What I watch instead is the retreat. If ORCA falls back toward 2.00 and volume drops with it, the past week was one wave of buying and not a trend, and I would leave it alone.
#Orca #SolanaDeFi
