OCEAN PROTOCOL - OCEAN/USD - 1H - Technical analysis published on 05/02/2023 (GMT)
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I am pleased to note that the threshold for invalidation has been maintained for 20 Candlesticks.
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
61%
17%
22%
My opinion
Bearish under 0.361414 USD
My targets
0.349631 USD (-1.67%)
0.343199 USD (-3.48%)
My analysis
OCEAN PROTOCOL - OCEAN/USD is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 0.361414 USD. The next support located at 0.349631 USD is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 0.343199 USD. Below this support, sellers could then target 0.310905 USD. With the current pattern, you will need to monitor for possible bearish 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 bearish trend. Trying to profit from the purchase of these possible corrections may seem risky.
Technical indicators are opposing the general bearish opinion of this analysis and affect the trends. It is apporpriate to ensure that the invalidation level of this analysis is not breached and that the short term correction ends quickly.
Force
0
10
4.6
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The OCEAN PROTOCOL - OCEAN/USD rating is 0.355579 USD. On the day, this instrument lost -0.07% and was traded between 0.353885 USD and 0.358285 USD over the period. The price is currently at +0.48% from its lowest and -0.76% from its highest.0.353885
0.358285
0.355579
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
Here is a more detailed summary of the historical variations registered by OCEAN PROTOCOL - OCEAN/USD:
Technical
Technical analysis of this 1H chart of OCEAN PROTOCOL - OCEAN/USD indicates that the overall trend is strongly bearish. 92.86% of the signals given by moving averages are bearish. This strongly bearish trend is supported by the strong bearish signals given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
The technical indicators are bullish. There is still some doubt about the price increase.
Other results related to technical indicators were also found by the Central Indicators scanner:
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Momentum indicator is back over 0
Type : Bullish
Timeframe : 1 hour
The analysis of the price chart with Central Patterns scanners does not return any result.
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 0.343199 | 0.349631 | 0.354425 | 0.355579 | 0.361414 | 0.369637 | 0.374664 |
| Change (%) | -3.48% | -1.67% | -0.32% | - | +1.64% | +3.95% | +5.37% |
| Change | -0.012380 | -0.005948 | -0.001154 | - | +0.005835 | +0.014058 | +0.019085 |
| Level | Intermediate | Minor | Intermediate | - | Intermediate | Minor | Minor |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.329890 | 0.339760 | 0.347800 | 0.357670 | 0.365710 | 0.375580 | 0.383620 |
| Camarilla | 0.350914 | 0.352556 | 0.354197 | 0.355839 | 0.357481 | 0.359123 | 0.360764 |
| Woodie | 0.328974 | 0.339303 | 0.346884 | 0.357213 | 0.364794 | 0.375123 | 0.382704 |
| Fibonacci | 0.339760 | 0.346602 | 0.350829 | 0.357670 | 0.364512 | 0.368739 | 0.375580 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.309387 | 0.326293 | 0.354245 | 0.371151 | 0.399103 | 0.416009 | 0.443961 |
| Camarilla | 0.369861 | 0.373973 | 0.378085 | 0.382197 | 0.386309 | 0.390421 | 0.394533 |
| Woodie | 0.314910 | 0.329055 | 0.359768 | 0.373913 | 0.404626 | 0.418771 | 0.449484 |
| Fibonacci | 0.326293 | 0.343429 | 0.354015 | 0.371151 | 0.388287 | 0.398873 | 0.416009 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.199632 | 0.265122 | 0.315173 | 0.380663 | 0.430714 | 0.496204 | 0.546255 |
| Camarilla | 0.333449 | 0.344041 | 0.354632 | 0.365223 | 0.375814 | 0.386406 | 0.396997 |
| Woodie | 0.191912 | 0.261262 | 0.307453 | 0.376803 | 0.422994 | 0.492344 | 0.538535 |
| Fibonacci | 0.265122 | 0.309259 | 0.336527 | 0.380663 | 0.424800 | 0.452068 | 0.496204 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 42.27 | |
| MACD (12,26,9): | -0.0022 | |
| Directional Movement: | -2.633432 | |
| AROON (14): | -21.428571 | |
| DEMA (21): | 0.353346 | |
| Parabolic SAR (0,02-0,02-0,2): | 0.350462 | |
| Elder Ray (13): | -0.000702 | |
| Super Trend (3,10): | 0.361878 | |
| Zig ZAG (10): | 0.355375 | |
| VORTEX (21): | 0.8739 | |
| Stochastique (14,3,5): | 59.22 | |
| TEMA (21): | 0.354196 | |
| Williams %R (14): | -43.89 | |
| Chande Momentum Oscillator (20): | 0.000607 | |
| Repulse (5,40,3): | 0.1757 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.1163 | |
| Courbe Coppock: | 1.20 |
| MA7: | 0.366339 | |
| MA20: | 0.385081 | |
| MA50: | 0.374113 | |
| MA100: | 0.391038 | |
| MAexp7: | 0.355375 | |
| MAexp20: | 0.356625 | |
| MAexp50: | 0.361636 | |
| MAexp100: | 0.365649 | |
| Price / MA7: | -2.94% | |
| Price / MA20: | -7.66% | |
| Price / MA50: | -4.95% | |
| Price / MA100: | -9.07% | |
| Price / MAexp7: | +0.06% | |
| Price / MAexp20: | -0.29% | |
| Price / MAexp50: | -1.67% | |
| Price / MAexp100: | -2.75% |
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.
About author
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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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