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OCEAN PROTOCOL AND FANTOM – ALTCOIN CHART ANALYSIS

 


Ocean-Protocol (OCEAN) has had a very volatile week. After we had a brief but unsustainable pump towards USD 0.80, we were immediately sold off again and are now at around USD 0.60.


At the moment we seem to be consolidating a bit before the next possible move up. Even if this pump was only short-lived, it broke through all resistance to the top without any problems.


This means that we could now rise to USD 0.80 without any problems. At the same time, we have formed a higher high. Now it will be important for us to attack this level again before going into the area around $0.85 – $0.90. This is where the last strong resistance lies. If we break these, the trend reversal should be complete.

Fantom hasn't moved much lately. After having our low around $1.00, we have been able to slowly but surely recover since then. Furthermore, we were able to form a small uptrend.


Right now we are trading around $1.38 right at our red downtrend and the 200 SMA (last 200 moving averages/purple) on the 4H chart. So a decision is imminent.


The 4H-EMA ribbons give us good support and once again confirm the uptrend. What we need now is increasing trading volume for a valid breakout. If we manage to do this, the next trend reversal could occur here.

On the daily chart we can clearly see the existing downtrend again. In addition, the Daily-EMA Ribbons are also in the way. So we still have some resistance to break through.


Still, the next week could be extremely bullish for FTM if we take out those resistances. The first price target would be around $1.60. Here is the next resistance.


If enough buying power comes in at the beginning of the week, Fantom could become the surprise of the week and quietly catch up with everything the altcoins have done this week in terms of percentages.

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