Market & Ticker: OCEAN – OCEAN/USDT
Date: 22/02/2024
Horizon / Timing: Tactical Mid-term / 1 to 3 months
Scenario:
OCEAN is part of the Artificial Intelligence coin category which offers significant adoption potential in the long run. After having exited from the consolidation pattern started in January 2023 Ocean reached the expected target set in December 2022 at 0.80
At the current level as long as 0.55 remains a tactical support valid in daily close we expect a direct bullish acceleration from the green setback area (buy) to anticipate an extension of the bullish trend towards 1,03 and 1,34
Technical Key Elements:
- Auto-similar move potential is at 0,80
- RSI indicator is positive – No Divergence
- The Moving average are support at 0,55
- Fibonacci key support is adjusted at 0,55 while the Elliot wave shows upside potential towards 1,03 and 1,34
Trade Idea conclusion: Buy - Conviction: High
• Target 2: 1,34
• Target 1: 1,03
• Buy: add in dip area 0,70
• Stop: 0,55 (Daily close)
Chart: Daily Basis (Candle Stick) - Logarithmic
Indicators: Exponential Moving Average (21/34/89) - RSI (21)
Disclaimer: The content of this analysis should not be considered as a study, an investment advice or a recommendation concerning products, strategies or a particular investment opportunity. This content is strictly for illustrative, educational or informational purposes and is subject to change. Investors should not base their investment decision on the content of this site and are strongly recommended to seek independent financial advice for any investment they are considering.