- OCEAN and APT, two altcoins, show promising upward momentum in February.
- OCEAN’s price surged to $0.88, possibly indicating a breakout from its previous resistance.
- Elliott Wave theory suggests OCEAN might be in the third wave of a five-wave upward movement, potentially leading to price levels of $1.36 or $2.03.
- A swift rejection could result in a 45% drop to the nearest support at $0.55.
- APT broke its long-term descending resistance trend line in November 2023 and reached $13.60.
- APT faces resistance at $12.60, with potential for a 70% surge to its all-time high of $20.55 if this level is breached.
- A rejection at $12.60 could lead to a 35% drop to the nearest support at $7.90.
Since the start of 2023, OCEAN’s price has steadily climbed, overcoming a previous descending resistance trend line. This ascent gained momentum in October, with OCEAN recently reaching a yearly high of $0.88. According to Elliott Wave theory, it could be in the third wave of a five-wave upward movement. This suggests possible price targets of $1.36 or even $2.03, marking significant potential gains. However, caution is advised as a rejection at current levels could lead to a notable 45% drop to the nearest support at $0.55.
Altcoin APT’s Rise and Potential Breakout:
APT’s price has seen a parabolic rise since November 2023, breaching a long-term descending resistance trend line and reaching $13.60. Currently, it faces a crucial resistance at $12.60, representing a confluence of horizontal resistance and the 0.5 Fib retracement level. Breaking past this resistance could pave the way for a remarkable 70% surge towards its all-time high of $20.55. However, failing to breach $12.60 may result in a significant 35% drop to the nearest support at $7.90.