Looking at this $ORCA chart, price is sitting at $0.776 and things are looking rough right now.

What I'm seeing: We've collapsed hard from the $1.31 level. All the moving averages are stacked in a bearish order with MA7 at 1.255, MA25 at 1.127, and MA99 at 0.919. Price is trading below literally every single one of them. The Bollinger Bands are wide open with lower band at 0.921 which we're already under, so momentum is firmly down.

My take: This is a breakdown, not a dip. Volume picked up during the selloff which confirms distribution. The next support is probably 0.70 then 0.60 if this continues.

Plan: No reason to catch this knife. Wait for a reclaim above 0.92 or at least some kind of consolidation before even thinking about entry. This needs time to find a bottom.

ORCAUSDT

Διην.

1.381

+12.55%