ORCA Coin Price: All-time high is near, is the breakout coming?

  • 1 Orca’s total value locked (TVL) has increased to over $86 million.
  • 2 The Bonk token on ORCA DEX soared to an all-time high of $0.0000065 on Monday.
  • 3 The coin has been trading in an uptrend since October this year.

Orca, which is the largest decentralized exchange (DEX) on Solana, has seen a surge in demand for tokens in its ecosystem. According to data from CoinMarketCap, the volume in its ecosystem has increased significantly in recent months.

How is Orca Dex showing growth?

Data shows that 4 days ago, the exchange handled over $113 million in transactions. This makes it the ninth largest decentralized exchange in the world. This includes companies like dYdX, Uniswap, Vertex Protocol, and Kine Protocol ranking higher.

Wrapped Solana, Bonk, and Marinade Staked SOL are among the most active tokens on Orca. Solana and Bonk are two cryptocurrencies that have performed exceptionally well this year. Solana has risen from less than $9 to nearly $70, while Bonk has skyrocketed to an all-time high of $0.0000065 on Monday. The growth was combined with a market capitalization of more than $400 million.

Orca’s total value locked (TVL) has increased to over $86 million, making it a major player in the Solana ecosystem. Furthermore, the number of users in the ecosystem has also increased as many of them are satisfied with the strong performance of Bonk and other tokens.

Recently, a major token holder proposed transitioning key treasury wallets and smart contracts to the DAO. This is a crucial step in Orca’s decentralization process. All votes so far have supported this move which increased long-term investor confidence in the currency.

ORCA Coin Price Prediction

ORCA Coin Price: All-time high is near, is the breakout coming?

TradingView ORCA/USD Chart (Daily Time Frame)

At the time of this publication, the ORCA coin price is trading at $3.32 after trading in an uptrend since mid-October. The current resistance level is $3.265, while the current support level of the raging bulls is $2.59. At the same time, the second support is at $1.88.

ORCA Coin Price: All-time high is near, is the breakout coming?

The moving averages have made a bullish crossover in the month of October itself. The current levels for the 590-day and 150-day EMA are $2.21 and $1.46, respectively. Meanwhile, the RSI is showing a sudden increase in strength after rising from the neutral level of 50. Currently, the RSI is at the level of 61, while its SMA is at 64.

The price prediction based on the current growth of tokens on the ORCA dex is bullish. Increased investor confidence is also one of the main reasons for the current bullish trend of the ORCA coin.

Conclusion

Wrapped Solana, Bonk, and Marinade Staked SOL are among the most active tokens on Orca. Orca’s total value locked (TVL) has increased to over $86 million, making it a major player in the Solana ecosystem. The price prediction based on the current growth of tokens on the ORCA dex is bullish.

Technical Levels

  • Support levels: $2.59 and $1.89
  • Resistance levels: $3.26 and $3.78
Disclaimer

The views and opinions expressed by the author, or anyone named in this article, are for informational purposes only. They do not provide financial, investment or other advice. Investing in or trading stocks, cryptocurrencies or related indices involves a risk of financial loss.

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