Market & Ticker: OCEAN – OCEAN/USDT
Date: 15/11/2023
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 it is now accumulating bullish momentum on the mathematical indicators (RSI) and doesn’t show any divergence while Moving averages are accelerating to the upside with a double cross bullish signal.
At the current level as long as 0.31 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 0,50 and 0,80.
Technical Key Elements:
- Bullish exit from consolidation potential is at 0,80
- RSI indicator is positive – No Divergence
- The Moving average are support at 0,33
- Fibonacci key support is adjusted at 0,31 while the Elliot wave shows upside potential towards 0,50 and 0,80
Trade Idea conclusion: Buy - Conviction:
 | | | High |
Target 2: 0,80
Target 1: 0,50
Buy: add in dip area 0,40/0,33
Stop: 0,31 (Daily close)
Chart: Daily Basis (Candle Stick) - Logarithmic
Indicators: Exponential Moving Average (21/34/89) - RSI (21)
