Odyssey is one of strongest coins in 2018 + Top Gainer today
Odyssey completed a successful ICO on the 23 January 2018, raising over $50M in 24 hours. At that time, price was 210 satoshis per coin. On 28 January, ICN topped out, reaching 934 satoshis all-time high. Although the project is very ambitions with an extremely successful ICO, the overall cryptocurrency market trend has changed. All altcoins along with the BTC correction started.
Since the all-time high, OCN/BTC went down by 95%, and bottomed out on 14 August, when it reached 43 satoshis low. The uniqueness of the price action is that the OCN started trending up, while most of altcoins were still in a heavy downtrend.
What is so attractive about the Odyssey?
Basic concept:
Odyssey is a decentralized sharing economy and peer-to-peer ecosystem, aiming to complete with and replace the likes of Airbnb and Uber. It is trying replace the concept of private ownership with an economy in which everything is shared and little is owned.
As has been mention above, the uptrend has started on the 14 August, and on the 2 October it has topped out, reaching 253 satoshis. This was a 486% gain over the bitcoin, which took 48 days. The correction down followed and OCN/BTC formed a double bottom at 143 satoshis area, where it rejected the 61.8% Fibonacci retracement level.
Today price has risen by over 20%, and higher highs and higher lows pattern once again is active. In fact, earlier today Odyssey was a top 1 gainer among the top 100 coins on the coinmarketcap.
Seems that the trade volume is picking up again and the long term uptrend continuation is just a question of time. Yet, for a strong uptrend the volume remains very low and OCN could trade near current price for some time, and small pull backs should be expected. But in anyway, the uptrend is valid and price could be reaching one of the Fibonacci retracement levels.
First upside target is 127.2% Fibs
Second upside target is 227.2% Fibs
Third and final upside target is 327.2% Fibs
While the uptrend seems to be imminent, the downside risk should always be considered. OCN/BTC has found the support at 61.8% Fibs, and produced a 137 satoshis low. Daily break and close below that level should invalidate bullish outlook resulting in a price drop toward 100 satoshis psychological support area.
In a Nutshell:
The Odyssey trend remains heavily bullish, and the upside potential is over 160% from the current price. Nevertheless, break below the support (which is unlikely at this point) would invalidate the uptrend.
Support:
1. 0.00000140
2. 0.00000100
Resistance:
1. 0.00000284
2. 0.00000400
3. 0.00000514
Since the all-time high, OCN/BTC went down by 95%, and bottomed out on 14 August, when it reached 43 satoshis low. The uniqueness of the price action is that the OCN started trending up, while most of altcoins were still in a heavy downtrend.
What is so attractive about the Odyssey?
Basic concept:
Odyssey is a decentralized sharing economy and peer-to-peer ecosystem, aiming to complete with and replace the likes of Airbnb and Uber. It is trying replace the concept of private ownership with an economy in which everything is shared and little is owned.
As has been mention above, the uptrend has started on the 14 August, and on the 2 October it has topped out, reaching 253 satoshis. This was a 486% gain over the bitcoin, which took 48 days. The correction down followed and OCN/BTC formed a double bottom at 143 satoshis area, where it rejected the 61.8% Fibonacci retracement level.
Today price has risen by over 20%, and higher highs and higher lows pattern once again is active. In fact, earlier today Odyssey was a top 1 gainer among the top 100 coins on the coinmarketcap.
Seems that the trade volume is picking up again and the long term uptrend continuation is just a question of time. Yet, for a strong uptrend the volume remains very low and OCN could trade near current price for some time, and small pull backs should be expected. But in anyway, the uptrend is valid and price could be reaching one of the Fibonacci retracement levels.
First upside target is 127.2% Fibs
Second upside target is 227.2% Fibs
Third and final upside target is 327.2% Fibs
While the uptrend seems to be imminent, the downside risk should always be considered. OCN/BTC has found the support at 61.8% Fibs, and produced a 137 satoshis low. Daily break and close below that level should invalidate bullish outlook resulting in a price drop toward 100 satoshis psychological support area.
In a Nutshell:
The Odyssey trend remains heavily bullish, and the upside potential is over 160% from the current price. Nevertheless, break below the support (which is unlikely at this point) would invalidate the uptrend.
Support:
1. 0.00000140
2. 0.00000100
Resistance:
1. 0.00000284
2. 0.00000400
3. 0.00000514
Trade closed: target reached:
Downside target reached