Hackers stole $36.8 million, but this coin skyrocketed by 34%! Next stop 1.58?

This morning a piece of news exploded — South Korea's Uphi exchange was hacked for $36.8 million, unexpectedly causing ORCA to surge by 34% overnight! Behind this is actually a “supply shock + negative funding rate” that triggered a short squeeze, forcing many who borrowed coins to short to close their positions, which in turn pushed the price up.

Technical Chart:

ORCA's current price is $1.325, just above the critical watershed of $1.300, with strong support at $0.955 below. Currently, the EMA7 has golden crossed upwards, and the MACD has turned positive. Once stabilized above $1.300, the next target will be the resistance level at $1.580!

Maple Leaf View:

This wave of increase is not over yet! The hacker incident has caused the exchange to freeze some assets, reducing market liquidity, combined with shorts being forced to cover, forming a “squeeze market.” I judge that the main force will first push the price up to around $1.58 to wash the positions, and only when the buy orders below are filled enough will the second wave begin.

What should retail investors do?

Don't rush to chase high prices! Remember: the rise is not for you to buy in, but for you to sell out. If it retraces to $1.300 without breaking, you can try a small long position; if it breaks below $0.995, the trend will turn bad. Want to learn more from me? Follow 'Blockchain Maple Leaf,' let's ambush the next dark horse together in Maple Leaf Village!

Bull markets are born in pessimism, grow in skepticism, and end in euphoria.

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