OCEAN PROTOCOL - OCEAN/USD

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Type:	Cryptocurrencies
Ticker:	OCEANUSD
ISIN:

OCEAN PROTOCOL - OCEAN/USD - Weekly - Technical analysis published on 11/12/2023 (GMT)

Londinia

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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

94%

My opinion

Bullish above 0.339022 USD

My targets

0.520602 USD (+20.37%)

0.545136 USD (+26.04%)

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 0.520602 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 0.545136 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

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 price is 0.432500 USD. Over 5 days, this instrument gained +1.49% and was traded between 0.373600 USD and 0.450760 USD over the period. The price is currently at +15.77% from its lowest point and -4.05% from its highest point.

0.373600

0.450760

0.432500

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

Here is a more detailed summary of the historical variations registered by OCEAN PROTOCOL - OCEAN/USD:

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

New HIGH record (1 year)

Type : Bullish

Timeframe : Weekly

New HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

The Central Volumes scanner notes the presence of abnormal volumes:

Abnormal volumes

Timeframe : 5 days

Abnormal volumes

Timeframe : 20 days

Abnormal volumes

Timeframe : 50 days

Technical

Technical analysis of this Weekly chart of OCEAN PROTOCOL - OCEAN/USD indicates that the overall trend is bullish. 71.43% of the signals given by moving averages are bullish. The overall trend is reinforced by the strong bullish signals from short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.

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

Previous candle closed over Bollinger bands

Type : Neutral

Timeframe : Weekly

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : Weekly

The Central Indicators scanner found no further results concerning independent technical indicators.

The analysis of the price chart with Central Patterns scanners does not return any result.

There is also a Japanese candlestick pattern detected by Central Candlesticks that could mark the end of the current short-term trend:

Doji

Type : Neutral

Timeframe : Weekly

ProTrendLines

Price

	S2	S1	Price	R1	R2	R3
ProTrendLines	0.124364	0.339022	0.432500	0.520602	0.986000	1.286050
Change (%)	-71.25%	-21.61%	-	+20.37%	+127.98%	+197.35%
Change	-0.308136	-0.093478	-	+0.088102	+0.553500	+0.853550
Level	Minor	Major	-	Minor	Minor	Major

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	0.371816	0.387408	0.403016	0.418608	0.434216	0.449808	0.465416
Camarilla	0.410044	0.412904	0.415764	0.418624	0.421484	0.424344	0.427204
Woodie	0.371824	0.387412	0.403024	0.418612	0.434224	0.449812	0.465424
Fibonacci	0.387408	0.399326	0.406690	0.418608	0.430526	0.437890	0.449808

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	0.322816	0.348208	0.383416	0.408808	0.444016	0.469408	0.504616
Camarilla	0.401959	0.407514	0.413069	0.418624	0.424179	0.429734	0.435289
Woodie	0.327724	0.350662	0.388324	0.411262	0.448924	0.471862	0.509524
Fibonacci	0.348208	0.371357	0.385659	0.408808	0.431957	0.446259	0.469408

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 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):	64.31
MACD (12,26,9):	0.0156
Directional Movement:	11.920839
AROON (14):	92.857143
DEMA (21):	0.368823
Parabolic SAR (0,02-0,02-0,2):	0.263812
Elder Ray (13):	0.063184
Super Trend (3,10):	0.257693
Zig ZAG (10):	0.429667
VORTEX (21):	1.0742
Stochastique (14,3,5):	88.29
TEMA (21):	0.377407
Williams %R (14):	-10.85
Chande Momentum Oscillator (20):	0.115262
Repulse (5,40,3):	19.1140
ROCnROLL:	1
TRIX (15,9):	0.1104
Courbe Coppock:	17.87

MA7:	0.415580
MA20:	0.389072
MA50:	0.335525
MA100:	0.328868
MAexp7:	0.381097
MAexp20:	0.352375
MAexp50:	0.341974
MAexp100:	0.364129
Price / MA7:	+4.07%
Price / MA20:	+11.16%
Price / MA50:	+28.90%
Price / MA100:	+31.51%
Price / MAexp7:	+13.49%
Price / MAexp20:	+22.74%
Price / MAexp50:	+26.47%
Price / MAexp100:	+18.78%

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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