OCEAN PROTOCOL - OCEAN/USD - 1H - Technical analysis published on 09/29/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
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Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bearish
Technical indicators
39%
33%
28%
My opinion
Bearish under 0.706177 USD
My targets
0.667656 USD (-3.85%)
0.637097 USD (-8.25%)
My analysis
We are currently in a phase of short-term indecision. In a case like this, you could favour trades in the direction of the basic trend on OCEAN PROTOCOL - OCEAN/USD. As long as you are under the resistance located at 0.706177 USD, traders with an aggressive trading strategy could consider a sale. A cross of the support located at 0.667656 USD would be a signal of a reversal in the basic trend and the short-term trend could then quickly become bearish. Sellers would then use the next support located at 0.637097 USD as an objective. Crossing it would then enable sellers to target 0.409984 USD. If the resistance 0.706177 USD were to be broken, this would simply be a sign of possible further short-term consolidation and trading against this trend would then perhaps be more risky.
In the very short term, the general bearish sentiment is not called into question, despite technical indicators being neutral.
Force
0
10
3.8
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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 0.694421 USD. The price is lower by -0.12% since the last closing with the lowest point at 0.675689 USD and the highest point at 0.706296 USD. The deviation from the price is +2.77% for the low point and -1.68% for the high point.0.675689
0.706296
0.694421
A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
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:
New HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in 1H of this OCEAN PROTOCOL - OCEAN/USD chart shows a bearish trend. The signals given by moving averages are 78.57% bearish. This bearish trend could slow down given the neutral signals currently being given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
On the 18 technical indicators analysed, 7 are bullish, 5 are neutral and 6 are bearish. But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
CCI indicator: bullish divergence
Type : Bullish
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
SuperTrend indicator bearish reversal
Type : Bearish
Timeframe : 1 hour
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Near resistance of channel
Type : Bearish
Timeframe : 1 hour
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 | 0.409984 | 0.637097 | 0.667656 | 0.694421 | 0.706177 | 0.722233 | 0.744428 |
| Change (%) | -40.96% | -8.25% | -3.85% | - | +1.69% | +4.01% | +7.20% |
| Change | -0.284437 | -0.057324 | -0.026765 | - | +0.011756 | +0.027812 | +0.050007 |
| Level | Major | Minor | Major | - | Major | Minor | Intermediate |
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 | 0.594963 | 0.636638 | 0.665950 | 0.707625 | 0.736937 | 0.778612 | 0.807924 |
| Camarilla | 0.675742 | 0.682249 | 0.688756 | 0.695263 | 0.701770 | 0.708277 | 0.714784 |
| Woodie | 0.588783 | 0.633547 | 0.659770 | 0.704534 | 0.730757 | 0.775521 | 0.801744 |
| Fibonacci | 0.636638 | 0.663755 | 0.680508 | 0.707625 | 0.734742 | 0.751495 | 0.778612 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.572956 | 0.621007 | 0.658135 | 0.706186 | 0.743314 | 0.791365 | 0.828493 |
| Camarilla | 0.671839 | 0.679647 | 0.687455 | 0.695263 | 0.703071 | 0.710879 | 0.718687 |
| Woodie | 0.567495 | 0.618276 | 0.652674 | 0.703455 | 0.737853 | 0.788634 | 0.823032 |
| Fibonacci | 0.621007 | 0.653545 | 0.673648 | 0.706186 | 0.738724 | 0.758827 | 0.791365 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.054542 | 0.200323 | 0.345162 | 0.490943 | 0.635782 | 0.781563 | 0.926402 |
| Camarilla | 0.410081 | 0.436721 | 0.463361 | 0.490001 | 0.516641 | 0.543281 | 0.569922 |
| Woodie | 0.054071 | 0.200088 | 0.344691 | 0.490708 | 0.635311 | 0.781328 | 0.925931 |
| Fibonacci | 0.200323 | 0.311340 | 0.379926 | 0.490943 | 0.601960 | 0.670546 | 0.781563 |
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): | 39.83 | |
| MACD (12,26,9): | -0.0045 | |
| Directional Movement: | -3.635822 | |
| AROON (14): | -21.428571 | |
| DEMA (21): | 0.684647 | |
| Parabolic SAR (0,02-0,02-0,2): | 0.697495 | |
| Elder Ray (13): | -0.003501 | |
| Super Trend (3,10): | 0.716447 | |
| Zig ZAG (10): | 0.681635 | |
| VORTEX (21): | 0.9792 | |
| Stochastique (14,3,5): | 27.66 | |
| TEMA (21): | 0.684310 | |
| Williams %R (14): | -87.97 | |
| Chande Momentum Oscillator (20): | -0.014983 | |
| Repulse (5,40,3): | -2.0213 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0896 | |
| Courbe Coppock: | 2.10 |
| MA7: | 0.710161 | |
| MA20: | 0.652104 | |
| MA50: | 0.535938 | |
| MA100: | 0.535891 | |
| MAexp7: | 0.685593 | |
| MAexp20: | 0.691558 | |
| MAexp50: | 0.699894 | |
| MAexp100: | 0.705838 | |
| Price / MA7: | -2.22% | |
| Price / MA20: | +6.49% | |
| Price / MA50: | +29.57% | |
| Price / MA100: | +29.58% | |
| Price / MAexp7: | +1.29% | |
| Price / MAexp20: | +0.41% | |
| Price / MAexp50: | -0.78% | |
| Price / MAexp100: | -1.62% |
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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