The Orion project is one of the most successful projects in the Solana ecosystem. So its growth potential is high according to market conditions and Solana's growth.
Keep holding tightly. Good news coming:
1-margin-lending-mainnet
2-liquidity-boost-plugin
3-first-DApp-live
4-Fantom-integration-with-orion-
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"Good luck"
Orion, ORN / USDT : Mid Term Trade Idea
flip of 6.15$ as support and it will easily move towards EMA100/200 confluence zone at 7.5$ and 1-D resistance at 9$
SL: at 4.9$
MAs are adequately lined up!
MACD is on the brink of a cross in the 2H, thus boosting the chances of a positive cross in the 4H.
RSI is ready to climb higher.
ORN is a great project for long-term investors!
After the release of their trading terminal, ORN has been in a huge selloff (typical sell the news scenario). However, the retracement has been going on for longer than expected and there is still huge sell volume, causing ORN to be kind of oversold right now. According to Binance's order book depth, there's a huge wall of buy orders at around $17.4, so we can...
ANALYSIS 🔎
- ORNUSDT is bounded in the descending channel (DC).
- Price is testing the descending channel support.
- The impulsive downtrend move is bounded in the falling wedge (FW) pattern.
- A falling wedge pattern is a bullish reversal pattern.
- RSI is printing a bullish divergence signal.
- There's a breakout potential.
BUY ENTRY ⬆️
- Breakout above the...
$ORN is on a healthy bull trend, and will likely continue to repeat this pattern. Fundamentals are strong an nothing really indicating a downward price movement fundamentally.
Bounce on the Support Line + EMA is most probable. MACD also showing signs of a reversal to the upside on the 4hr chart.
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...
Bouncing on support / previous resistance... Mainnet about to be announced with many bullish news coming the next couple of weeks. This is going to sky rocket hard!
FUNDAMENTAL:
The company improves EBITDA YoY +9.0% but misses Q4's by -31.3%.
Net Sales (YoY) +2.6% but missed Q4 -7.0%
Outlook for 2021:
Net sales in 2021 slightly lower than in 2020.
Operating profit estimated to be lower or clearly lower than in 2020.
TECHNICAL:
Fibonacci Retracement level suggests Orion's about to break 0.618 level downwards up until 29.60...
