Orca's Break Above $1.60 Sets Stage for $2 Psychological Level
Orca's price has broken above $1.60 after a 15% surge on Monday, September 7th, according to TradingView.
The token initially rose from around $1.00 to $1.35 before consolidating between $1.22 and $1.35 in the last week of August.
On August 30th, Orca's price surged to nearly $1.50 but was quickly rejected by sellers, forcing the token down to $1.20.
This second attempt at breaking above $1.50 had greater conviction, with expanding volume driving ORCA through $1.35 and $1.50 into September.
As a result of this breakout, rising participation levels provide confirmation of the current bullish trend, indicating that buyers have successfully converted former resistance into support.
However, this increased leverage also makes the foundation increasingly vulnerable to a pullback, with Open Interest (OI) jumping 144.72% to $10.3 million on Coinalyze.