cryptoknowmics.com
The Ocean Protocol blockchain ecosystem unlocks the true value of data. Users selling data over this network are rewarded with OCEAN tokens for their contribution. Members can find, use, and publish data securely on this network.
Past Performance
As of March 8, 2021, the opening price of OCEAN was $1.49. The closing price of OCEAN as of March 14, 2021, was $1.48. Thus, there wasn’t any significant change in the OCEAN price over the past week. In the last 24 hours, OCEAN has been trading within the price range of $1.37 – $1.61.
https://www.tradingview.com/x/RsAd9oXv
Day-Ahead and Tomorrow
Currently, OCEAN is trading at $1.47. The price has declined slightly from the opening price of $1.48. Thus, the market doesn’t seem very healthy.
The MACD and signal lines are in the negative region. Plus, the MACD line has crossed over the signal line from above implying a bearish market momentum. Thus, a price pullback is on the horizon. The price will dip further.
Half an hour back, the RSI indicator was in the ‘oversold’ region. Thereafter, it rallied to 45% and faced a bearish swing rejection therein. Thus, selling pressures are high and we can expect the OCEAN price to downswing.
The OBV indicator was upward sloping for a long time. Presently, it has started steadily declining. There is bullish divergence here as the OBV indicator is showing high buying volumes. High demand for the crypto will exert upward pressure on its price. Thus, the price pullback may be temporary.
OCEAN Price Analysis
Currently, the OCEAN price is below the Fibonacci pivot point of $1.49. As the oscillators are showing a bearish trend, the price may fall below the first support level of $1.39 in some time.
The price is soon expected to test and fall below the 38.2% FIB retracement level of $1.46, as the bears are strong. If the bears overpower the market throughout the day, then the price is likely to close below the 23.6% FIB retracement level of $1.43. In that case, a price downtrend has kicked in and is likely to continue tomorrow as well.