Binance’s Token Debut Sends ACX and ORCA Prices Through the Roof

• ACX sees strong momentum with a 108.2% price surge, testing $1.40 resistance.
• ORCA’s 82.1% rise signals potential gains, but $7.10 resistance remains key.
• ACX’s $1.00 support level shows investor confidence, signaling further potential.

Binance listed two new tokens, Across Protocol (ACX) and Orca (ORCA), on its exchange. Starting December 6, both tokens became available for trading against the USDT stablecoin.

The official listing allows users to trade on pairs ACX/USDT and ORCA/USDT, with deposits now open. The market responded with notable price movements, with ACX surging by over 100% and ORCA also gaining significantly.

Across Protocol (ACX) Price Analysis

ACX made a dramatic price jump, increasing by 108.2% in just one day to reach $1.24. The price action began with a prolonged consolidation phase around $0.59-$0.60, signaling strong accumulation. This led to a breakout, pushing the price above the crucial $1.00 level, which often acts as a psychological barrier for investors.

The immediate resistance level for ACX is around $1.40. The price briefly retraced from this zone, suggesting the presence of selling pressure.

Traders should watch for any rejection at this resistance point. If the price stays above $1.00, there is potential for further gains, possibly targeting the $1.50-$1.60 range.

Source: Coinmarketcap

The $1.00 mark is now a critical support level, indicating strong investor confidence. In case of a downward movement, the $0.90-$0.95 zone could act as secondary support, where the price saw significant activity during the breakout.

Read also: Solana Memecoin Frenzy Cools Down After Binance Listing

Orca (ORCA) Price Trends and Market Outlook

ORCA also saw a remarkable surge, jumping 82.1% within 24 hours to reach a price of $6.96. Before this sharp rise, the token had been consolidating between $3.80 and $4.00, showing signs of accumulation. The breakout above key resistance levels at $5.00 and $6.00 marked strong upward momentum, drawing attention from traders and investors.

Source: Coinmarketcap

Currently, the price faces resistance in the $7.00-$7.10 range. This zone requires close attention, as a failure to sustain above it could result in a pullback or profit-taking.

On the downside, $6.00 acts as the immediate support level, close to the breakout point. If the price falls below this level, a further drop to the $5.50 mark could occur, testing the strength of the recent rally.

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.