Altcoin Analysis: Ocean Protocol and Near Protocol
In today's edition of the Altcoin newsletter, we delve into the technical analysis of several prominent altcoins, responding to the requests of valued readers of the Rekt Capital Premium Newsletter. Let's explore the recent trends and potential future trajectories of Ocean Protocol (OCEAN), Near Protocol (NEAR).
Ocean Protocol (OCEAN/USDT)
In the previous edition, attention was drawn to OCEAN's potential retest of the Macro Downtrend, which was anticipated to be facilitated by a bearish Double Top formation. True to this analysis, OCEAN experienced a significant -42% downturn upon breaking below the Double Top pattern. However, the subsequent crash offered bargain-buying opportunities as OCEAN managed to find support above the Macro Downtrend, validating it as new support. The ongoing retest suggests a potential trend continuation towards the upside, albeit with caution.
I've published a new Altcoin Newsletter I share my analysis on 8 AltcoinsThese Altcoins are $OCEAN, $NEAR, $GRT, $AVAX, $FIL, $HIFI, $VRAI share an Altcoin Newsletter like this every FridaySign up & read here:https://t.co/8hlEJ5CWr2#BTC #Bitcoin #BitcoinHalving
— Rekt Capital (@rektcapital) April 19, 2024
