OCEAN/USDT: bullish view invalidated - Turn Neutral

---- Mid-term Analysis for the next coming 4 weeks to 3 months - Daily on Daily Chart (LOG)-------

OCEAN/USDT: bullish view invalidated - Turn Neutral

Context
- The Global Crypto market leads by BTC and ETH reversed a new bullish trend - OCEAN for now is still underperforming ETH
- Previous bullish view invalidated
- Turn Neutral between 0,2150 and 0,1480

Previous Analysis 12/08/2022 :

Market configuration

- Graphical Elements :
Graphical Resistance = 0,2150 & 0,7280
Graphical Support = 0,1480

- Mathematical Indicators:
EMA ( Exp Moving averages) are now resistance = Bearish
RSI indicator (below) is now below 50% - but Moving average still at 50% = Neutral

- Elliot & Harmonic Wave (Fibonacci):
Fibonacci Target (c) (B) has been already reached = 0,1480
Fibonacci resistance of the wave in progress = 0,2150
Fibonacci Bearish Target = 0,1480 / 0,0860
Fibonacci Bullish Target = 0,3410 / 0,5180 / 0,7280 (auto-similar move)


Conclusion

Neutral view (Mixed elements) : On current level the direct bullish dynamic has been invalidated - We turn Neutral between 0,1480 and 0,2150, only a break of those level would provide a clear directional conclusion

NOTE : OCEAN invalidate the direct bullish scenario and continue to underperform the ETH - We advise to do not keep OCEAN in portfolio.