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- 1 The current price of the OCEAN is surfing around $0.4427 with a growth of 3.55%
- 2 The pair of OCEAN/BTC is Trading Around 0.00001849 BTC
- 3 The OCEAN is lagging behind by the 20,50,100,200 Daily moving average.
The OCEAN Protocol is facing a lot of dips over the daily price chart. The coin is in a bearish rally and is moving steadily toward a downward trend. The Bullish rally may end as the bears have taken over the market of OCEAN. It suggests that the currency’s potential is currently fading. A bearish pattern for OCEAN may begin or intensify if the prices fall. Under the impact of bulls, OCEAN, which is currently losing its potential, can work to recover the upward momentum.
The price of Ocean Protocol is currently $0.4427 and has grown by 3.55% during intraday trading. Currently trading at 0.00001849 BTC, the value of the Ocean/BTC exchange has increased by 6.20% in the last 24 hours. If the bearish trend persists, the price may break through the primary support level of $0.4174 and hit the secondary support level of $0.3366.
If the bulls resist the downward trend then the price of the coin may reach the primary resistance of $0.4869 and if the bulls dominate the Ocean Protocol’s market then the price may reach the secondary resistance of $0.5241. The bulls are trying to build their strategy to take the coin toward their desired prices.
There has been a decrease in volume of almost 19.87%. The constant decrease in the volume of the OCEAN indicates that the short-selling pressure is increasing. OCEAN is lagging behind by the 20,50,100,200 Daily moving average.
The Technical Analysis of OCEAN
Technical Indicators Shows the RSI is returning from the overbought zone and the coin is moving toward neutrality. The sellers are trying to drive the RSI to neutrality. The RSI of the OCEAN is in the overbought zone and the current RSI of the coin is 57.65 and the average RSI is 59.72. The MACD and MACD signal have collapsed giving the negative cross-over. The investors are hustling over the coin.
Conclusion
The Ocean Protocol is under bearish dominance since the last month the coin has been driven to follow a downward trend. The current price of the coin is $0.4427 with the rise during the intraday trading session. The bulls also tried to enter the trade. But the bears have a grip over the Ocean Protocol
Technical Levels-
Resistance level- $0.4869 and $0.5241
Support level-$0.4174 and $0.3366
Disclaimer-
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
