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 11/02/2023 (GMT)

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Timeframe : Weekly
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Bullish

Technical indicators

83%

11%

My opinion

Bullish above 0.339022 USD

My targets

0.469168 USD (+17.50%)

0.520602 USD (+30.38%)

My analysis

All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on OCEAN PROTOCOL - OCEAN/USD as long as the price remains well above 0.339022 USD. The buyers' bullish objective is set at 0.469168 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 0.520602 USD. If there is any crossing, the next objective would be the resistance located at 0.986000 USD.

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

5.7

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 0.399300 USD. The price registered an increase of +19.23% over 5 days and has been traded over the last 5 days between 0.342378 USD and 0.405500 USD. This implies that the 5 day price is +16.63% from its lowest point and -1.53% from its highest point.

0.342378

0.405500

0.399300

The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.

Bullish opening

Type : Bullish

Timeframe : Openning

So that you have an overall view of the price change, here is a table showing the variations over several periods:

The study of the highest / lowest by the Central Records scanner shows the following results:

New HIGH record (1st january)

Type : Bullish

Timeframe : Weekly

New HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

Abnormal volumes on OCEAN PROTOCOL - OCEAN/USD were detected by the Central Volumes scanner:

Abnormal volumes

Timeframe : 5 days

Abnormal volumes

Timeframe : 20 days

Technical

A technical analysis in Weekly of this OCEAN PROTOCOL - OCEAN/USD chart shows a bullish trend. 64.29% of the signals given by moving averages are bullish. This bullish trend is supported by the strong bullish signals given by short-term moving averages. The Central Indicators market scanner is currently detecting several bullish signals that could impact this trend:

Bullish trend reversal : Moving Average 20

Type : Bullish

Timeframe : Weekly

Bullish trend reversal : adaptative moving average 20

Type : Bullish

Timeframe : Weekly

Bullish trend reversal : adaptative moving average 50

Type : Bullish

Timeframe : Weekly

Bullish trend reversal : adaptative moving average 100

Type : Bullish

Timeframe : Weekly

The probability of a further increase is high given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:

CCI indicator is overbought : over 100

Type : Neutral

Timeframe : Weekly

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : Weekly

Other results related to technical indicators were also found by the Central Indicators scanner:

MACD crosses UP its Moving Average

Type : Bullish

Timeframe : Weekly

Aroon indicator bullish trend

Type : Bullish

Timeframe : Weekly

MACD indicator is back over 0

Type : Bullish

Timeframe : Weekly

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

Price

	S2	S1	Price	R1	R2	R3
ProTrendLines	0.124364	0.339022	0.399300	0.520602	0.986000	1.286050
Change (%)	-68.85%	-15.10%	-	+30.38%	+146.93%	+222.08%
Change	-0.274936	-0.060278	-	+0.121302	+0.586700	+0.886750
Level	Minor	Major	-	Minor	Minor	Major

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	0.331567	0.346233	0.374767	0.389433	0.417967	0.432633	0.461167
Camarilla	0.391420	0.395380	0.399340	0.403300	0.407260	0.411220	0.415180
Woodie	0.338500	0.349700	0.381700	0.392900	0.424900	0.436100	0.468100
Fibonacci	0.346233	0.362736	0.372931	0.389433	0.405936	0.416131	0.432633

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	0.192439	0.237669	0.301839	0.347069	0.411239	0.456469	0.520639
Camarilla	0.335923	0.345951	0.355980	0.366008	0.376036	0.386065	0.396093
Woodie	0.201908	0.242404	0.311308	0.351804	0.420708	0.461204	0.530108
Fibonacci	0.237669	0.279460	0.305279	0.347069	0.388860	0.414679	0.456469

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	0.175953	0.223046	0.299014	0.346107	0.422075	0.469168	0.545136
Camarilla	0.341140	0.352421	0.363701	0.374982	0.386263	0.397543	0.408824
Woodie	0.190391	0.230265	0.313452	0.353326	0.436513	0.476387	0.559574
Fibonacci	0.223046	0.270055	0.299098	0.346107	0.393116	0.422159	0.469168

Numerical data

The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:

Technical indicators

Moving averages

RSI (14):	60.93
MACD (12,26,9):	0.0024
Directional Movement:	8.017759
AROON (14):	78.571429
DEMA (21):	0.337493
Parabolic SAR (0,02-0,02-0,2):	0.249279
Elder Ray (13):	0.041977
Super Trend (3,10):	0.257219
Zig ZAG (10):	0.398955
VORTEX (21):	1.1022
Stochastique (14,3,5):	66.54
TEMA (21):	0.333397
Williams %R (14):	-2.51
Chande Momentum Oscillator (20):	0.059292
Repulse (5,40,3):	23.5430
ROCnROLL:	1
TRIX (15,9):	-0.0896
Courbe Coppock:	8.19

MA7:	0.379305
MA20:	0.326071
MA50:	0.316767
MA100:	0.322338
MAexp7:	0.341464
MAexp20:	0.333980
MAexp50:	0.334083
MAexp100:	0.361450
Price / MA7:	+5.27%
Price / MA20:	+22.46%
Price / MA50:	+26.05%
Price / MA100:	+23.88%
Price / MAexp7:	+16.94%
Price / MAexp20:	+19.56%
Price / MAexp50:	+19.52%
Price / MAexp100:	+10.47%

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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