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OCEAN PROTOCOL AND EOS – ALTCOIN CHART ANALYSIS

 


Today we take a closer look at Ocean Protocol and EOS. Can we already see a trend reversal at OCEAN in the near future? Can EOS exit its downtrend and head for new heights?


Ocean Protocol is still in a clear sideways phase. We haven't seen any significant moves for weeks or will sell off immediately once we break to the upside.


We are currently at around USD 0.80 and thus above the 4H-EMA ribbons, which serve as an indicator for an uptrend. These haven't flipped green yet, which means we're not out of the correction phase yet.



It will now be important that we can hold this level and then move into the area around USD 0.88. Here is the 200 SMA (last 200 moving averages/purple) and 200 EMA on the 4H chart. There we could see another small reaction to the downside. In the short to medium term, however, we must leave this behind.


We can also continue to see a sideways phase in the OCEAN/BTC daily chart, whereby we can always see higher highs here after testing the red range below. Thus, at least a small uptrend is recognizable.


At the moment we are trading at around 0.000018 BTC and thus exactly in the EMA ribbons, which serve as additional support. Above us is the monthly resistance P. We have already been clearly rejected at this point.



So it will be important that we can break through this voluminously and then confirm it as support. The RSI is in a neutral zone, so there is still room for improvement without us having to worry.


EOS is back above the downtrend for the first time in a long time. This is still from our all-time high and has now been broken. Now it is important that we do not see another fakeout like in November.


Right now we're at around $2.90. The trading volume has increased a bit, but not really breakout-worthy. We must impulsively break through the downtrend and, if necessary, confirm it again as support.



The next significant resistance is located around $3.14. Here lies the 200 SMA and 200 EMA on the 4H chart. In addition, the monthly resistance P is also located here. There I expect the first difficulties and a setback to then confirm the downtrend as support.

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