$ORCA surged 14.77% in an hour. Pretty wild.
1-hour volume is just over 2x, with price and volume rising together.
Funding is still negative, so shorts are paying to hold on.
But OI fell 0.843%,
so this move looks more like shorts getting stopped out than new longs entering.
Price is right up against resistance at 2.975,
so chasing it now would just make me someone else’s exit liquidity. I can’t even be bothered to complain.
I’ll wait for a pullback to go long,
with 2.8261 as my stop; if it breaks, I’ll admit I’m wrong and get out.
If it pulls back deeper, I’ll see whether 2.403 holds as support.
I’m excited, but I need to keep my hands in check.
Betting it breaks straight through 2.975, or pulls back before heading higher? Let’s talk in the comments.
#行情分析 #DeFi #山寨季
Personal market notes only; not investment advice. Please manage your position size.
1-hour volume is just over 2x, with price and volume rising together.
Funding is still negative, so shorts are paying to hold on.
But OI fell 0.843%,
so this move looks more like shorts getting stopped out than new longs entering.
Price is right up against resistance at 2.975,
so chasing it now would just make me someone else’s exit liquidity. I can’t even be bothered to complain.
I’ll wait for a pullback to go long,
with 2.8261 as my stop; if it breaks, I’ll admit I’m wrong and get out.
If it pulls back deeper, I’ll see whether 2.403 holds as support.
I’m excited, but I need to keep my hands in check.
Betting it breaks straight through 2.975, or pulls back before heading higher? Let’s talk in the comments.
#行情分析 #DeFi #山寨季
Personal market notes only; not investment advice. Please manage your position size.
