OCEAN PROTOCOL - OCEAN/USD

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Type:	Cryptocurrencies
Ticker:	OCEANUSD
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OCEAN PROTOCOL - OCEAN/USD - Weekly - Technical analysis published on 01/12/2024 (GMT)

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Timeframe : Weekly
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Strongly bullish

Technical indicators

61%

33%

My opinion

Bullish above 0.410917 USD

My targets

0.520602 USD (+9.76%)

0.667656 USD (+40.76%)

My analysis

OCEAN PROTOCOL - OCEAN/USD is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 0.410917 USD. The next resistance located at 0.520602 USD is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 0.667656 USD. After this resistance, buyers could then target 0.986000 USD. With the current pattern, you will need to monitor for possible bullish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.

In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.

Force

6.8

Comment on the analysis

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

This analysis was given by SprangsOpportunities. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

The OCEAN PROTOCOL - OCEAN/USD rating is 0.474311 USD. The price registered an increase of +7.17% over 5 days and has been traded over the last 5 days between 0.389700 USD and 0.481432 USD. This implies that the 5 day price is +21.71% from its lowest point and -1.48% from its highest point.

0.389700

0.481432

0.474311

A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.

Bearish opening

Type : Bearish

Timeframe : Openning

A study of price movements over other periods shows the following variations:

The Central Volumes scanner notes the presence of abnormal volumes:

Abnormal volumes

Timeframe : 50 days

Technical

Technical analysis of OCEAN PROTOCOL - OCEAN/USD in Weekly shows a strongly overall bullish trend. 82.14% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.

In fact, 11 technical indicators on 18 studied are currently bullish. Central Indicators, the scanner specialised in technical indicators, has identified these signals:

Price is back over the pivot point

Type : Bullish

Timeframe : Weekly

Williams %R indicator is back over -50

Type : Bullish

Timeframe : Weekly

An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows a result that can have an impact on the price change:

Near resistance of triangle

Type : Bearish

Timeframe : Weekly

The presence of a bullish Japanese candlestick pattern detected by Central Candlesticks that could cause a very short term rebound was also detected:

Bullish harami

Type : Bullish

Timeframe : Weekly

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	0.119326	0.280087	0.410917	0.474311	0.520602	0.667656	0.986000
Change (%)	-74.84%	-40.95%	-13.37%	-	+9.76%	+40.76%	+107.88%
Change	-0.354985	-0.194224	-0.063394	-	+0.046291	+0.193345	+0.511689
Level	Minor	Major	Major	-	Intermediate	Minor	Minor

Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	0.431406	0.444055	0.459526	0.472175	0.487646	0.500295	0.515766
Camarilla	0.467265	0.469843	0.472420	0.474998	0.477576	0.480153	0.482731
Woodie	0.432818	0.444761	0.460938	0.472881	0.489058	0.501001	0.517178
Fibonacci	0.444055	0.454797	0.461433	0.472175	0.482917	0.489553	0.500295

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	0.286152	0.358126	0.400352	0.472326	0.514552	0.586526	0.628752
Camarilla	0.411173	0.421641	0.432110	0.442578	0.453046	0.463515	0.473983
Woodie	0.271278	0.350689	0.385478	0.464889	0.499678	0.579089	0.613878
Fibonacci	0.358126	0.401750	0.428702	0.472326	0.515950	0.542902	0.586526

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	0.304363	0.373281	0.440091	0.509009	0.575819	0.644737	0.711547
Camarilla	0.469575	0.482017	0.494458	0.506900	0.519342	0.531784	0.544225
Woodie	0.303308	0.372754	0.439036	0.508482	0.574764	0.644210	0.710492
Fibonacci	0.373281	0.425129	0.457161	0.509009	0.560857	0.592889	0.644737

Numerical data

The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:

Technical indicators

Moving averages

RSI (14):	58.26
MACD (12,26,9):	0.0407
Directional Movement:	0.509143
AROON (14):	78.571429
DEMA (21):	0.477268
Parabolic SAR (0,02-0,02-0,2):	0.577928
Elder Ray (13):	-0.012531
Super Trend (3,10):	0.302237
Zig ZAG (10):	0.476142
VORTEX (21):	1.0876
Stochastique (14,3,5):	63.99
TEMA (21):	0.499840
Williams %R (14):	-32.71
Chande Momentum Oscillator (20):	0.185367
Repulse (5,40,3):	-4.3602
ROCnROLL:	1
TRIX (15,9):	1.3713
Courbe Coppock:	104.13

MA7:	0.449147
MA20:	0.494169
MA50:	0.497264
MA100:	0.428356
MAexp7:	0.470228
MAexp20:	0.427275
MAexp50:	0.382790
MAexp100:	0.382373
Price / MA7:	+5.60%
Price / MA20:	-4.02%
Price / MA50:	-4.62%
Price / MA100:	+10.73%
Price / MAexp7:	+0.87%
Price / MAexp20:	+11.01%
Price / MAexp50:	+23.91%
Price / MAexp100:	+24.04%

Quotes : - Real time data - Cryptocompare

This member declared not having a position on this financial instrument or a related financial instrument.

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