JeanJean1983

OCEAN/USDT: Reversed up above key support at 0,1480

Long
JeanJean1983 Premium Updated   
BINANCE:OCEANUSDT   OCEAN / TetherUS
---- Mid-term Analysis for the next coming 4 weeks to 3 months - Daily on Daily Chart (LOG)-------

OCEAN/USDT: Reversed up above key support at 0,1480 as expected

Context
- The Global Crypto market leads by BTC and ETH reversed a new bullish trend - OCEAN for now is still lagging versus ETH
- We are watching at 0,3410 area to bypassed to extend the bullish recovery in progress (in parallel of 2170 ETH)
- Watch 0,1780 as key support

Previous Analysis 09/06/2022 :
Market configuration

- Graphical Elements :
Graphical Resistance = 0, 3410 & 0,7280
Graphical Support = 0,1480

- Mathematical Indicators:
EMA ( Exp Moving averages) are now support at 0,2080 = Bullish / Neutral
RSI indicator (below) is now above 50% with room to the upside = Bullish

- Elliot & Harmonic Wave (Fibonacci):
Fibonacci Target (c) (B) has been already reached = 0,1480
Fibonacci resistance of the wave in progress = 0,3410
Fibonacci support of the wave (2) = 0,1780
Fibonacci Bullish Target = 0,7280(auto-similar move)


Conclusion

Preferred case => As long as 0,1780 remains support we are looking to buy the dip in the buying area in order to test and then surpass 0,3410 (corresponding t 2170 ETH), before opening a further rise towards 0,5180 in a first step
Trade closed: stop reached: Tactical support penetrated - Bullish view invalidated - a new complete analysis is coming soon

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

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