$ORN: March towards the 31st... get it?
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 we're looking for a break above and a retest? Or a break below and a bounce that continues above the previous resistance. I've actually found that pennants tend to break downwards as stops are hunted and most overleveraged traders enter too risky of positions at the moment of the breakout. Always remain patient when trading that pattern. Trend is your friend.
The red path: This is the more bearish of the paths, but if you zoom out to anything like the daily, we're still WELL within our macro bullish structure. I wouldn't be surprised to seeORN price action take a more violent dip here to punish the fomo pump chasers who entered long positions AFTER the pump from the $20 dollar range. If it came back down to retest that S/R flip, that would be a great time to load up on some more ORN tokens before the terminal is launched and for the big one... when staking is launched in q2.
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 we're looking for a break above and a retest? Or a break below and a bounce that continues above the previous resistance. I've actually found that pennants tend to break downwards as stops are hunted and most overleveraged traders enter too risky of positions at the moment of the breakout. Always remain patient when trading that pattern. Trend is your friend.The red path: This is the more bearish of the paths, but if you zoom out to anything like the daily, we're still WELL within our macro bullish structure. I wouldn't be surprised to see
ORN price action take a more violent dip here to punish the fomo pump chasers who entered long positions AFTER the pump from the $20 dollar range. If it came back down to retest that S/R flip, that would be a great time to load up on some more ORN tokens before the terminal is launched and for the big one... when staking is launched in q2.
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