OCEAN is screaming buy meBINANCE:OCEANUSDT , 1d
Price is trading above the 200SMA suggesting that the long term trend is intact.
The downward trendline has been broken and has been consolidating for the past two days.
On the 4h, price has formed an imperfect cup and handle with the consolidation being the handle. The MACD line has crossed above the signal line indicating a bullish momentum.
The only downside i see here is the lack of adequate volume on the breakout candle. It still remains interesting to keep an eye on since a break above the consolidation (base or handle) could propel price to higher highs resuming the uptrend.
Breakout traders would put their stop loss (SL) below the consolidation and target the market structure highs.
As always, “anything can happen” so let the market unfold and react accordingly. #DYOR
Daymouse
$KAVA may skip the 2024 Bull RunBINANCE:KAVAUSDT , 1d
After reaching failing to break it’s 2024 high around the $1.15 area, price created a lower high and broke below the 200SMA forming a lower low. This creates a bearish sentiment for KAVA.
The downward trendline aligns with the stiff resistance created by 200SMA and previous support turned resistance. This is a key level where bears will look for shorting opportunities. Keep an eye on the charts and wait for price reaction to initiate a trade.
The only indicator making a bullish case for KAVA is the bullish MACD crossover but price has to ultimately breakout of the downward trendline and 200SMA and remain above it to bring back the bullish sentiment.
As always, “anything can happen” so let the market unfold and react accordingly. #DYOR
