---- 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