Ocean protocol daily chart analysis
The Ocean Protocol cryptocurrency is displaying bullish characteristics, as its volume, development activity, and open interest are all supporting the price. This suggests that it has the potential for further growth. Similarly, on the price chart, it has demonstrated good performance during the past week, month, and three months by 16.60%, 189.73%, and 148.49% respectively, indicating a reliable upward trend.
The OCEAN crypto experienced a higher 7.47% increase in the last 24 hours, and it is currently trading at $1.2575 at press time.
Therefore, the Ocean Protocol crypto has exhibited a sturdy recovery as the price turned around from a critical key level of around $0.30 on the chart. If the OCEAN crypto continues to follow that bounced rally, it might continue to gear upward and the rally may continue to keep going in an upward direction to pierce through the resisting hurdle levels. It may zoom to new heights towards testing the major supply level from the current price level.
Correspondingly, the OCEAN asset is showing bullish strength and rising potential as it sustains above major 20-day and 50-day EMA bands. Likewise, the asset appears to be in a strong upward trend as the MACD shows a broad histogram, which is at 0.02595 and shows a bullish crossover. The MACD line is at 0.1625 and the signal line is at 0.1365. The daily chart shows a wider northward trend and indicators support the price.
Therefore, If demand for the OCEAN token remains at its peak, its price could reach $1.50. However, $1.350 would be the primary resistance level.
Another possibility would be, that if the Ocean Protocol crypto price fails to stay above the $1.10 price level, it could decline further.
The OCEAN crypto experienced a higher 7.47% increase in the last 24 hours, and it is currently trading at $1.2575 at press time.
Therefore, the Ocean Protocol crypto has exhibited a sturdy recovery as the price turned around from a critical key level of around $0.30 on the chart. If the OCEAN crypto continues to follow that bounced rally, it might continue to gear upward and the rally may continue to keep going in an upward direction to pierce through the resisting hurdle levels. It may zoom to new heights towards testing the major supply level from the current price level.
Correspondingly, the OCEAN asset is showing bullish strength and rising potential as it sustains above major 20-day and 50-day EMA bands. Likewise, the asset appears to be in a strong upward trend as the MACD shows a broad histogram, which is at 0.02595 and shows a bullish crossover. The MACD line is at 0.1625 and the signal line is at 0.1365. The daily chart shows a wider northward trend and indicators support the price.
Therefore, If demand for the OCEAN token remains at its peak, its price could reach $1.50. However, $1.350 would be the primary resistance level.
Another possibility would be, that if the Ocean Protocol crypto price fails to stay above the $1.10 price level, it could decline further.
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