ORCA Shows Strong Bullish Momentum but Overbought RSI Signals Caution

In my view, ORCA (symbol: ORCA) currently shows a market cap of $19.8 million with a price of $2.6, and a daily trading volume of $24 million. The price change is upward by 1.29%. The RSI on the 15-minute and 1-hour charts is notably high at 84.33 and 73.72 respectively, indicating overbought conditions, especially on the shorter timeframe. The funding rate is very low at 0.0025%, and the volume delta has surged by 778.84%, suggesting significant recent trading activity. The RSI level on the Bitcoin 1-hour chart remains moderate at 63.89, which indicates some strength but not overbought conditions for Bitcoin, providing a broader market context. This combination of high RSI levels on ORCA, substantial volume delta, and a slight positive price movement suggests strong bullish momentum in the short term, but also signals the risk of a potential correction due to overbought levels. The low funding rate could indicate optimistic trader sentiment without excessive borrowing costs. In my opinion, traders should be cautious and consider the possibility of a short-term pullback or consolidation, especially given the overbought RSI. It may be prudent to await confirmation of sustained upward movement or look for a minor decline to enter at a better support level, aligning risk management with the current bullish sentiment.