JeanJean1983

OCEAN/USDT: Buying area reached, Direct rise expected

Long
BINANCE:OCEANUSDT   OCEAN / TetherUS
---- 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 )

CIO & Head of market research (Automata - Akt.io)

Up to 200 EUR AKTIO => Referal for AKT.IO app on Apple store and Google play =>
https://www.akt.io/app-referral/?referral=3e2e485b164fe488ed7761ca1c2374db6f41b691cbe03c728b108489f13a46fa
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.