$ORCA to 41x in the near future?
Updated
Looking at the Logarithmic chart, OORCA seems to have been at a down trend since January 2024 after doing a 10x in just 63 days. The coin seems to have been going through a decent correction for the past 140-160 days. Pulling up the Fib retracement we see a clear bounce off of the 50% level(log scale) which gives an indication that the correction is coming to an end. This gives us a good 1-2 setup per Elliot Wave Theory. Further the RSI seems to have bottomed out on the daily and shows signs of bullish divergence and accumulation of smart money. Looking at the long-term trend based on Modified Shiffs Pitchfork, it seems to be bouncing off of key levels parallel to the trend with great upside potential. Considering the incoming third wave being the longest and comparatively faster the Fib Extension targets of $74-$223 look positively attainable and within the assets long term trend. As we enter the Altcoin Season, Orca can be one of the early gainers considering the fact that ORCA went up to $29 a week into launch. I'm thinking the 3rd wave has already started and just needs a little momentum to go exponential. Considering the 1st wave lasting for 63 days the 3rd wave should be even faster and massive. The project is amazing and has good growth potential as it scales. A good investment overall. Do your own research before you Ape into this amazing project!!!! :-D
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It's fascinating to see how money inflows and outflows occur in the market. Patterns are essentially visuals of this happening. The entire crypto market is retesting their key support levels and that is the case for ORCA as well. One more thing I failed to point out in the early analysis was the Cup and Handle forming on the weekly. The angle may be skewed based on the downward Schiffs channel, which further cements the Bullish sentiment of this project. The corrective wave can be interpreted in different ABC, or 1-5 waves based on different traders, but the overall consensus could be to an end of correction. The overall outlook from this point is still BULLISH and I believe the smart big money market makers or 'WHALES' are watching this closely and accumulating the slow sell offs. One thing to remember is that money does not flow in at an instant but over a range of time intervals. Some market makers can range these accumulations between 2.17-2.50 range where potential sell offs will stop, and a shock would occur driving the price upwards as buyers don't see any further lows. It will be fascinating to see how this plays out and the winners from these trades.
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