💎 OCEAN has recently experienced significant market dynamics. The breakout of the Cup and Handle pattern with substantial volume and a strong green candle indicates bullish momentum.
💎 Currently, OCEAN is in the retesting phase, approaching the previously resistant support level (the neckline of the Cup and Handle pattern).
💎 If this pattern holds, we can expect the price to bounce off this support level and probability continue its upward movement towards our target area, which is the Bearish OB area.
💎 However, if OCEAN fails to bounce during the retesting phase and even breaks down below the support area, it could signify a false breakout. In such a scenario, the chart pattern would be invalidated, and the movement could shift back to a downward trend.
💎 This would potentially lead the price back towards the demand area around 0.4 or even towards the strong support area if OCEAN fails to find support at the demand level.