OCEAN Undervalued? Potential Long Awaits!
My Fellow Crypto Traders,
Appreciate you taking the time to view my analysis, in which I hope you may find it beneficial. Please be sure to “LIKE” if you indeed find my analysis useful and/or find my analysis intriguing.
Also, I’m new to charting game and the crypto/stock space. So, if you have any constructive criticism or tips, please share.
Cheers & Happy Trading!
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ANALYSIS:
OCEAN is significantly undervalued from a fundamentals aspect. With data being the driving force that fuels our economy, OCEAN has carved out a niche that allows for the monetization of data in a decentralized format, which that alone should make you ever so bullish about OCEAN, and its future aspirations.
Currently, OCEAN has been in what I call an accumulation phase between $0.42 to $0.26. And in my opinion, this is a great entry-level before we see the next cycle of positive price action. Therefore, we could see a correction back down to a region of value, which is from $0.33 to $0.30. This type of correction would be a healthy correction, thus allowing the next positive price action to break the $0.38 resistance, and continue its hunt to re-test the $0.42. Watch for both the 9ema and the 20ema to cross the 50ema and 200ema on the 4hr timeframe, which would illustrate the dip that was previously mentioned. And from there, OCEAN should see the positive price action to hopefully break through the $0.38 resistance. Also, on the daily, we are seeing the 9ema looking to cross the 20ema, which could be that bullish sign for OCEAN to re-test the $0.38 resistance. This positive price action is also being confirmed on the Fisher Transform, due to the negative region that we are currently in.
KEY:
White = 4hr timeframe resistance/support
Blue = Region of Value/Pivot
Appreciate you taking the time to view my analysis, in which I hope you may find it beneficial. Please be sure to “LIKE” if you indeed find my analysis useful and/or find my analysis intriguing.
Also, I’m new to charting game and the crypto/stock space. So, if you have any constructive criticism or tips, please share.
Cheers & Happy Trading!
------------------------------------------------------------------------------------------------------------------------------------------------------------------
ANALYSIS:
OCEAN is significantly undervalued from a fundamentals aspect. With data being the driving force that fuels our economy, OCEAN has carved out a niche that allows for the monetization of data in a decentralized format, which that alone should make you ever so bullish about OCEAN, and its future aspirations.
Currently, OCEAN has been in what I call an accumulation phase between $0.42 to $0.26. And in my opinion, this is a great entry-level before we see the next cycle of positive price action. Therefore, we could see a correction back down to a region of value, which is from $0.33 to $0.30. This type of correction would be a healthy correction, thus allowing the next positive price action to break the $0.38 resistance, and continue its hunt to re-test the $0.42. Watch for both the 9ema and the 20ema to cross the 50ema and 200ema on the 4hr timeframe, which would illustrate the dip that was previously mentioned. And from there, OCEAN should see the positive price action to hopefully break through the $0.38 resistance. Also, on the daily, we are seeing the 9ema looking to cross the 20ema, which could be that bullish sign for OCEAN to re-test the $0.38 resistance. This positive price action is also being confirmed on the Fisher Transform, due to the negative region that we are currently in.
KEY:
White = 4hr timeframe resistance/support
Blue = Region of Value/Pivot
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