OCEAN/USDT: Buying area reached, Direct rise expected

---- Mid-term Analysis for the next coming 4 weeks to 3 months - Daily on Daily Chart (LOG)-------

OCEAN/USDT: Buying area reached, Direct rise expected

Context
- The Global Crypto market leads by BTC and ETH is still evolving within a bearish market configuration. Like the others digital assets OCEAN suffered about negative global market situation
- However we are focus on a key buying area now on this coin and we expect a fast and quick recovery regarding technical element


Market configuration

- Graphical Elements :
Graphical Resistance = 0,40 & 1,28
Graphical Support = n/a

- Mathematical Indicators:
EMA ( Exp Moving averages) are slowing their downside acceleration, the faster one is support, the slower one is still resistance = Neutral
RSI indicator (below) is bouncing off key support and is challenging 50% - there is no divergence on current level = Bullish/Neutral

- Elliot & Harmonic Wave (Fibonacci):
Fibonacci Target (c) (B) has been already reached = 0,19
Fibonacci resistance of the wave in progress = 0,40 & 0,74
Fibonacci support of the wave (c) (B) (max extension) = 0,1480
Fibonacci Bullish Target = 1,28 (auto-similar move)


Conclusion

Preferred case => Regarding the mid-term element, OCEAN is offering the perfect entry area for a mid-term portfolio configuration in order to anticipate a bullish exit towards 0,74 and 1,28 as long as 0,1480 remains support - 0,40 is an important short-term level, it is acting as upside confirmation level to lower the risk of a last downleg (No divergence on RSI)