In this Ocean Protocol technical analysis, we will examine the current price action, trading volume, key levels and indicators for OCEAN-BTC. Ocean Protocol is a blockchain-based data sharing platform that enables the secure and decentralized exchange of data between individuals, businesses, and institutions. OCEAN is the native cryptocurrency of the Ocean Protocol ecosystem, powering the network’s transactions and data transfers. With OCEAN, users can access a wide range of data sources and services while maintaining control over their personal information and assets.
Ocean Protocol Price Overview:
As of July 06, 2024, Ocean Protocol is trading at approximately 1e-05 BTC. Let’s dive into the detailed price action for OCEAN-BTC:
| Metric | Value |
|---|---|
| Open (O) | 1e-05 |
| High (H) | 1e-05 |
| Low (L) | 1e-05 |
| Close (C) | 1e-05 |
| Volume (C) | 12,525.00 |
- Open (O): The opening price for today’s trading session was approximately 1e-05 BTC.
- High (H): Ocean Protocol reached a daily high of around 1e-05 BTC.
- Low (L): The daily low for OCEAN-BTC was approximately 1e-05 BTC.
- Close (C): At the time of analysis, Ocean Protocol is trading near its daily close of 1e-05 BTC.
| Metric | Value |
|---|---|
| 1D Change (%) | -1.93% |
| 3D Change (%) | -2.23% |
| 7D Change (%) | -12.44% |
| 30D Change (%) | -26.97% |
| 90D Change (%) | -43.95% |
| YTD Change (%) | -19.67% |
Over the past three days, OCEANBTC has fallen by approximately -2.23%, showcasing increased market volatility. Throughout the last week, it continued to fall, with a loss of around -12.44%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with OCEANBTC maintaining a downward trend of approximately -26.97%, despite intermittent fluctuations. Examining the last 90 days, OCEANBTC has witnessed substantial decrease of approximately -43.95%, reflecting strong long-term confidence. Year-to-date, OCEANBTC has steadily depreciated by around -19.67%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
Ocean Protocol Live Chart:
You can access a live price chart for OCEAN-BTC on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.
Price Volatility and Momentum:
- Volatility score is 1.3566.
- Momentum score is -0.06499.
OCEAN BTC Technical Analysis
Ocean Protocol Trading Volume:
The trading volume for Ocean Protocol (OCEAN) over the past 24 hours has been insignificant, with approximately 12,525.00 BTC traded against OCEAN. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
Moving Averages:
- 50-day Simple Moving Average (SMA): OCEAN is currently trading below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): Ocean Protocol is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for OCEAN-BTC is currently in the low zone, around 42.51923. This suggests that Ocean Protocol is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
Ocean Protocol (OCEAN-BTC) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the BTC monthly resistance level and the BTC support level for potential trading opportunities. Additionally, the low RSI and insignificant trading volume are low signals for potential downward movement.
Clearly see Ocean Protocol’s (OCEANBTC) bullish trend at 9.64e-06 BTC through detailed technical analysis, highlighting strong support and promising indicators.
Dive into the details with our in-depth analysis on OCEAN USDT Ocean Protocol Technical Analysis; you won’t want to miss it if you found this post interesting.
Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.
Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.
Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.