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OCEAN Technical Analysis: Buyers Have Not Said The Last Word Yet

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    The last two trading weeks in the OCEAN market interrupted the initiative of buyers, which they built since the end of September 2021. After an unsuccessful attempt to fix above the critical range of $0.96-$1.05 from 1 November, sellers managed to control the global trend line of buyers and globally aimed at the $0.65 mark. It is interesting that the weekly candle from 1 November focuses on the maximum number of volumes in the history of OCEAN cryptocurrency trading.

    https://www.tradingview.com/x/MTQRp7rl/

    Given the effort that buyers have made to break the range of $0.96-$1.05 and the result in the form of a weekly candle with a large pin-down, the probability of the OCEAN price growth increases. To confirm this fact, sellers should effortlessly push the price to the range of $0.65 by the end of November. If the current weekly candle closes at around $0.9 and the next one fails to update the local low, OCEAN investors will be able to calm down again and prepare for a new medium-term growth wave. The target of such a growth wave is around $1.5. We talked about this target in our previous forecast. However, buyers could not fulfill the main condition of this scenario – fixing the price above $0.96-$1.05.

    OCEAN Technical Analysis On A Daily Timeframe

    https://www.tradingview.com/x/LK4TP3pj/

    Analyzing the price movement on the daily timeframe, you can see a hint of buyers’ readiness to keep the OCEAN price. Yes, the price is clearly moving within the red channel of the fall. Sellers were able to lower the price to the range from which began a strong growth impulse in early November. However, yesterday’s daily candle could not update the previous local low. Trading volumes in this correction channel are in the middle.

    To change the market situation, buyers just need to take control of the mark of $0.9. It is also noticeable that since 16 November, the downward trend in OCEAN price has been satisfied. The culprit of this event was the price zone of $0.8-$0.82. Of course, this is a range of local character. Though, in the case of correction rather than a fall impulse, this range is quite suitable for reversal and the beginning of a new growth wave.

    The OCEANBC Price Shows Readiness For Growth

    https://www.tradingview.com/x/132A08ph/

    The OCEANBTC chart also adds positive and increased probability of the OCEAN price growth without the $0.65 test. As we can see in the weekly timeframe since October, buyers have organized consolidation to accumulate positions in the medium term. The OCEANBTC price has been moving steadily in the wide red channel since January 2021. The prospect of the OCEANBTC price growth reaches up to 200%. Now is a good time and price to buy this cryptocurrency in your investment portfolio.

       

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