The Ocean Protocol (OCEAN) glimpsed a symmetrical triangle pattern and is ready for an up move. However, bulls need to cross the prompt trendline hurdle
Ocean Protocol (OCEAN) Naghahanap ng Pagbabalik: Magtagumpay kaya ang Bulls?
Ang Ocean Protocol (OCEAN) glimpsed a simetriko tatsulok na pattern and is ready for an up move. However, bulls need to cross the prompt trendline hurdle of $1, which might lead to a sharp surge.
Meanwhile, sellers have made a strong grip near the round mark of $1 and decisively secured the zone. However, the sentiments have flipped, and a rebound from the 200-day EMA was noted in the last sessions.
Sa oras ng pag-uusap, OCEAN na-trade sa $0.9317 na may intraday drop na 1.10%, na sumasalamin sa neutralidad sa mga chart. Ito ay may buwanang return ratio na -13.20% at 171.89% taun-taon.
The pair of OCEAN/BTC is at 0.0000152 BTC, and the market cap is $1.65 Billion. Analysts are neutral and suggest that the OCEAN price may see a pullback ahead and will gain momentum in the upcoming sessions.
$1 Mark Reachable? Price Action Outlook
Ang Ocean Protocol charts articulate that the upward trendline and the 200-day EMA provide downside support, which may not be breached further. On the higher side, the $1 mark is the challenge for the bulls to cross.
This month, the price action hints at the buyer accumulation and recovery from the 200-day EMA, which may be the beginning of the upcoming rally. However, the trading volume remained flat, noted at $4.14 Million.
Ang Relative Strength Index (RSI) revisited the midline region, and a positive crossover was witnessed.
Will Development Activity Favor The Ocean Protocol Price
In a recent tweet, Ocean Protocol announced that it is hosting a challenge named “Github Developers Dynamics Data Challenge” starting from May 9 to May 28. This competition has a prize pool of $10k. In this competition, developers will interact with each other and use the GitHub data for crypto projects.
This activity has showcased a surge in the development activity data; a surge of over 120% in the last month was noted.
Pinagmulan: Santiment
The immediate support levels for OCEAN are $0.9000 and $0.8900, whereas the key upside hurdle is around $1, followed by $1.25
Konklusyon
OCEAN showcased signs of buyer accumulation and may attain pace soon. Recent developments highlight the fresh investor interest in the OCEAN crypto, which will soon give it an advantage.
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