Orion Protocol (ORN) and iExec RLC Technical Analysis: What to Expect?

RLC/USDT and ORN/USDT are in green versus the USD, posting gains against BTC and ETH. RLC may expand to $7.5 while ORN bulls target $20.

Orion Protocol (ORN)

Using ORN, the Certik-certified project aims to resolve liquidity challenges preventing the profitable trading of digital assets. By aggregating the liquidity of CEX’s order books, the platform makes it easy for traders to execute trades.

Past Performance of ORN

Prices are moving horizontally, inside a $4 zone with caps at May 2021 lows.

Technically, support lies at $6 while resistance is at $10.

In all, buyers have the upper hand, closing above the middle BB for the first time in over a month.

At press time, ORN is up 13, posting gains versus BTC, ETH, and the USD.

Day-Ahead and What to Expect

ORN/USDT prices are distributing at around May 2021 lows.

However, with defined support and resistance levels, a clearance above key reaction points of the Fibonacci retracement level could trigger demand, pushing ORN towards May 2021 highs.

ORN/USDT Technical Analysis

Prices are inching higher, boosted by the close above the middle BB.

Notably, the close above the confirmation of the end of last week’s bulls is a net positive, propping bulls.

Aggressive ORN buyers can load the dips, targeting $10.

Subsequently, a conclusive high-volume close above $10 opens up ORN to $20 in the medium term.

Losses below $6 cancel the uptrend. In that case, ORN/USDT may contract to Q1 2021 lows of $2.

iExec RLC

The platform’s Trusted Execution Environment ensures code cannot be tampered with, a distinguisher for the computing protocol. RLC is its native currency.

Past Performance of the RLC

RLC has support at spot rates, following June 15 sharp rebound from April 2021 highs, retesting the middle BB, and a critical resistance level.

At spot rates, RLC is stable.

Meanwhile, rising volumes could provide bulls with the necessary tailwinds.

Day-Ahead and What to Expect

There are a series of higher highs, reading from the price chart.

The bounce off from April 2021 with decent volumes may be the impetus for sharp gains above the middle BB in a bull trend continuation pattern.

RLC/USDT Technical Analysis

Technically, candlestick arrangements place bulls above bears in the meantime.

As such, every low may be present a buying opportunity for aggressive RLC buyers. Immediate targets may be at $7.5.

On the other hand, risk-on RLC/USDT traders can wait for a conclusive close above $4.5 before buying the dips.

Losses below $3 nullify the uptrend, aligning RLC/USDT price action with sellers of May 2021.