đź“Š OCEAN pumped 25% today. What's next?
Updated
Hello, dear TradingView members.
This idea is an OCEAN analysis.
Today OCEANUSDT made a 25% pump in the past 24 hours. Before we FOMO and buy or sell, let's see what possible scenarios.
RSI crossed the border to 75 and showed overbought signals, and now it has pulled back into the range. Usually, when this happens, the price pulls back down. But since the price is moving on a support/resistance area, we might experience consolidations here.
Scenario one:
A breakout:
If the price consolidates in this key area and gathers enough buy volumes, we might have enough strength to retest the resistance level.
Scenario two:
A fake-out:
After a few hours of consolidations, the price will drop after this 25% pump.
The Bollinger Bands are closing back down, another sign of consolidation and sideways moves.
The Speedometer indicator shows Neutral volumes on the market for OCEAN on a 1D interval.
Let me know if you guys have any questions;
I will be more than happy to help.
Good luck, and thank you.
This idea is an OCEAN analysis.
Today OCEANUSDT made a 25% pump in the past 24 hours. Before we FOMO and buy or sell, let's see what possible scenarios.
RSI crossed the border to 75 and showed overbought signals, and now it has pulled back into the range. Usually, when this happens, the price pulls back down. But since the price is moving on a support/resistance area, we might experience consolidations here.
Scenario one:
A breakout:
If the price consolidates in this key area and gathers enough buy volumes, we might have enough strength to retest the resistance level.
Scenario two:
A fake-out:
After a few hours of consolidations, the price will drop after this 25% pump.
The Bollinger Bands are closing back down, another sign of consolidation and sideways moves.
The Speedometer indicator shows Neutral volumes on the market for OCEAN on a 1D interval.
Let me know if you guys have any questions;
I will be more than happy to help.
Good luck, and thank you.
Note
Scenario two happened. It was fake-out.
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