In this Ocean Protocol technical analysis, we will examine the current price action, trading volume, key levels and indicators for OCEAN-USDT. Ocean Protocol is a blockchain-based platform that enables secure and decentralized data sharing and collaboration. It utilizes cutting-edge cryptography and smart contracts to protect sensitive information while facilitating seamless data exchange between parties. By leveraging OCEAN, businesses and individuals can unlock the full potential of their data assets, fostering innovation and growth in various industries.
Ocean Protocol Price Overview:
As of July 08, 2024, Ocean Protocol is trading at approximately 0.6123 USDT. Let’s dive into the detailed price action for OCEAN-USDT:
| Metric | Value |
|---|---|
| Open (O) | 0.6138 |
| High (H) | 0.6252 |
| Low (L) | 0.6033 |
| Close (C) | 0.6123 |
| Volume (C) | 1,427,053.00 |
- Open (O): The opening price for today’s trading session was approximately 0.6138 USDT.
- High (H): Ocean Protocol reached a daily high of around 0.6252 USDT.
- Low (L): The daily low for OCEAN-USDT was approximately 0.6033 USDT.
- Close (C): At the time of analysis, Ocean Protocol is trading near its daily close of 0.6123 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | -0.24% |
| 3D Change (%) | 2.79% |
| 7D Change (%) | -7.77% |
| 30D Change (%) | -31.56% |
| 90D Change (%) | -45.62% |
| YTD Change (%) | 20.58% |
Over the past three days, OCEANUSDT has experienced a notable increase of approximately **2.79%**, indicating heightened market volatility. In contrast, its performance over the last week has been marked by a decline of around **-7.77%**, suggesting a decrease in investor interest. A 30-day analysis provides a more comprehensive view, revealing a downward trend of approximately **-31.56%** despite occasional fluctuations. Looking back at the past 90 days, OCEANUSDT has witnessed a substantial drop of around **-45.62%**, reflecting a significant loss of long-term confidence. Year-to-date, however, OCEANUSDT has steadily appreciated by around **20.58%**.
Ocean Protocol Live Chart:
You can access a live price chart for OCEAN-USDT 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 1.30299.
- Momentum score is -0.14626.
OCEAN USDT Technical Analysis
Ocean Protocol Trading Volume:
The trading volume for Ocean Protocol (OCEAN) over the past 24 hours has been insignificant, with approximately 1,427,053.00 USDT 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-USDT is currently in the low zone, around 42.29485. This suggests that Ocean Protocol is in bearish territory.
Analysis from TradingView:
Our Key Takeaways: Ocean Protocol (OCEAN-USDT) is currently experiencing short-term bearish momentum, with key support and resistance levels drawing attention. Traders and investors should closely monitor the USDT monthly resistance level and the USDT support level for potential trading opportunities. Additionally, the low RSI and insignificant trading volume are low signals indicating a potential downward movement.
Anticipate potential growth for Ocean Protocol (OCEANUSDT) at 6.12e-01 USDT through positive technical analysis, emphasizing strong support and promising indicators.
Discover even more by checking out our comprehensive analysis on OCEAN BTC Ocean Protocol Technical Analysis — a perfect follow-up if you enjoyed this post.
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.