OCEANUSDT trading inside resistance zone, retrace likely
Updated
The price was trending well to the upside. But now it has hit the resistance and trading inside the resistance zone. It may break out to the upside but the probability does not favor that and therefore a long is not favorable. I expect a push back to the downside here. Let us see how it goes. Long will be favorable on dip to the 4h or daily support below. Or if it breaks out to the upside conclusively.
Note
Added more resistance levels on the chart:Note
So the price did come back to 4h support and a long from 4h support area was favorable providing 8% bounce. The daily resistance doing its job and sent the price back to 4h support zone marked on the chart and the price bounced from there again to enter into daily resistance zone and again got pushed back down. Not very sure about the direction of this one as getting a mixed signal. But looking at the chart, it looks likely that it will head down towards daily and/or weekly support.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.