OCEAN PROTOCOL - OCEAN/USD - 1H - Technical analysis published on 08/10/2024 (GMT)
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- Timeframe : 1H
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Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
83%
6%
11%
My opinion
Bullish above 0.377700 USD
My targets
0.409984 USD (+4.94%)
0.446638 USD (+14.32%)
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 0.377700 USD. The next resistance located at 0.409984 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 0.446638 USD. After this resistance, buyers could then target 0.497616 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
0
10
7.5
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Additional analysis
Quotes
The OCEAN PROTOCOL - OCEAN/USD price is 0.390695 USD. On the day, this instrument gained +6.11% and was between 0.361538 USD and 0.396899 USD. This implies that the price is at +8.06% from its lowest and at -1.56% from its highest.0.361538
0.396899
0.390695
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
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Technical
Technical analysis of OCEAN PROTOCOL - OCEAN/USD in 1H 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.
Technical indicators are strongly bullish, suggesting that the price increase should continue.
But beware of excesses. The Central Indicators scanner currently detects this:
RSI indicator is overbought : over 70
Type : Neutral
Timeframe : 1 hour
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Previous candle closed over Bollinger bands
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : 1 hour
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
From the Japanese candlestick perspective, the Central Candlesticks scanner notes the presence of these results that could impact the short-term trend:
Bearish harami
Type : Bearish
Timeframe : 1 hour
Doji
Type : Neutral
Timeframe : 1 hour
Bearish harami cross
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 0.321879 | 0.361137 | 0.390378 | 0.390695 | 0.409984 | 0.446638 | 0.497616 |
| Change (%) | -17.61% | -7.57% | -0.08% | - | +4.94% | +14.32% | +27.37% |
| Change | -0.068816 | -0.029558 | -0.000317 | - | +0.019289 | +0.055943 | +0.106921 |
| 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 | 0.328595 | 0.344828 | 0.356515 | 0.372748 | 0.384435 | 0.400668 | 0.412355 |
| Camarilla | 0.360524 | 0.363083 | 0.365643 | 0.368202 | 0.370761 | 0.373321 | 0.375880 |
| Woodie | 0.326322 | 0.343692 | 0.354242 | 0.371612 | 0.382162 | 0.399532 | 0.410082 |
| Fibonacci | 0.344828 | 0.355493 | 0.362083 | 0.372748 | 0.383413 | 0.390003 | 0.400668 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.225656 | 0.322126 | 0.377700 | 0.474170 | 0.529744 | 0.626214 | 0.681788 |
| Camarilla | 0.391461 | 0.405398 | 0.419336 | 0.433273 | 0.447210 | 0.461148 | 0.475085 |
| Woodie | 0.205207 | 0.311902 | 0.357251 | 0.463946 | 0.509295 | 0.615990 | 0.661339 |
| Fibonacci | 0.322126 | 0.380207 | 0.416090 | 0.474170 | 0.532251 | 0.568134 | 0.626214 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.192252 | 0.324798 | 0.412226 | 0.544772 | 0.632200 | 0.764746 | 0.852174 |
| Camarilla | 0.439162 | 0.459326 | 0.479491 | 0.499655 | 0.519819 | 0.539984 | 0.560148 |
| Woodie | 0.169694 | 0.313519 | 0.389668 | 0.533493 | 0.609642 | 0.753467 | 0.829616 |
| Fibonacci | 0.324798 | 0.408828 | 0.460742 | 0.544772 | 0.628802 | 0.680716 | 0.764746 |
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): | 76.25 | |
| MACD (12,26,9): | 0.0045 | |
| Directional Movement: | 32.234556 | |
| AROON (14): | 35.714286 | |
| DEMA (21): | 0.377078 | |
| Parabolic SAR (0,02-0,02-0,2): | 0.366509 | |
| Elder Ray (13): | 0.017012 | |
| Super Trend (3,10): | 0.370780 | |
| Zig ZAG (10): | 0.391911 | |
| VORTEX (21): | 1.1782 | |
| Stochastique (14,3,5): | 90.87 | |
| TEMA (21): | 0.381682 | |
| Williams %R (14): | -14.83 | |
| Chande Momentum Oscillator (20): | 0.022530 | |
| Repulse (5,40,3): | 3.5237 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0373 | |
| Courbe Coppock: | 6.63 |
| MA7: | 0.371769 | |
| MA20: | 0.469462 | |
| MA50: | 0.535879 | |
| MA100: | 0.696191 | |
| MAexp7: | 0.380735 | |
| MAexp20: | 0.372663 | |
| MAexp50: | 0.369986 | |
| MAexp100: | 0.373685 | |
| Price / MA7: | +5.09% | |
| Price / MA20: | -16.78% | |
| Price / MA50: | -27.09% | |
| Price / MA100: | -43.88% | |
| Price / MAexp7: | +2.62% | |
| Price / MAexp20: | +4.84% | |
| Price / MAexp50: | +5.60% | |
| Price / MAexp100: | +4.55% |
Quotes :
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Real time data
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Cryptocompare
This member declared not having a position on this financial instrument or a related financial instrument.
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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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