UNDER THE SEA.... OCEAN PROTOCOL FTWWe started covering asset classes that are farther out the risk curve last week and will continue to expand on our coverage of asset classes that we think are undervaued. OCEAN is one of them. We saw BTC and ETH rally hard this week, we think it will continue into the last quarter of the year. OCEAN is a pair that is underperforming the market right now but has great fundamentals in terms of institutional partnerships.
BULL CASE
We think price is due for some short term relief to the downside but if the market continues to be irrational and piles on the leveraged buying, we should see price shoot up above the 200MA and find consolidation well above it before finding the next leg up.
BEAR CASE
If price doesn't these levels, we are looking for support at 0.7 at which we will enter for a long.