Octo
$OCTO ready for new highsHello everyone,
$OCTO has recently found support for the first time on the 50 day moving average on the daily chart and it looks like the price is ready for a new wave up. Soon version 2 of the project will be ready, launching many new valuable features. Below you can see an overview of these features.
This project was created just two months ago by a group of developers with a history in finance. Since then, the project has undergone rapid development. The expertise of this group recently manifested itself through an article on Cointelegraph in which a prominent OctoFi developer gives his view on DeFi and ETH.
The team has chosen to create an informal and accessible atmosphere around this project. This conscious choice ensures that they stand out in a world where DeFi projects are erected by stereotypical Linkedin business people who only wear a tie for their profile picture. Under the informal mask there is a professional, hardworking team that pays the costs for this project out of its own pocket.
Version 2.0 includes the following features
First Version of CEX competitor running with completed design (Basic and Advanced Trading)
Lending and Borrowing aggregation for Compound and Aave
Trading experience will be open for testing
Adding of Tokensets integration
Adding of derivatives trading
Adding of market maker functions
Listing of new assets via integration
Combining all liquidity pools into one, for frictionless trading experience
Adding of NFT trading interface
Conclusion
With the current course of this project, it is only a matter of time before the price will explore unknown territory. However, always be critical; the project is young and anything can still happen. Do not invest more money than you are willing to lose. More information can be found at octo.fi
OCTO - WIll it repeat the fractal from early November?OCTO analysis:
* Would love to see the fractal from early November repeat again - run up, then brief consolidation, before taking the local resistance
* So far it's looking like same price action could repeat (often happens on Uniswap coins being driven by a few big players)
* RSI is pretty stable indicating consolidation - not over, or underbought
* Rarely stays below the moving average for long so I do think, more likely than not, this will have another run at 40 mark as long as BTC doesn't nuke everything
OCTO has to chooseOCTO has been playing with this blue level for a few weeks now. It has served several times as support and resistance. Now OCTO is trading within the range.
Two scenarios:
- OCTO breaks down after which it could easily drop to the 22 support level.
- OCTO breaks out and tests the diagonal trendline. If it breaks, I would expect a retest of the trendline and then a move towards the 35 level.
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