Ocean Protocol Price Prediction 2021 — Will OCEAN Price Hit $2 Soon?

OCEAN-Protocol-Price-Prediction
  • Bullish OCEAN price prediction is $1.25 to $1.97.
  • The OCEAN price will also reach $2 soon.
  • OCEAN bearish market price prediction for 2021 is $0.33.

In Ocean Protocol (OCEAN) price prediction 2021, we use statistics, price patterns, RSI, RVOL, and much other information about OCEAN to analyze the future movement of the cryptocurrency.

Ocean Protocol Current Market Status

According to coingecko, the price of OCEAN is $1.02 with a 24-hour trading volume of $175,081,020 at the time of writing. However, OCEAN has increased to 6.9% in the last 24 hours.

Moreover, OCEAN has a circulating supply of 434,026,836 OCEAN. Currently, OCEAN trades in cryptocurrency exchanges such as Binance, Mandala Exchange, CoinTiger, KuCoin, and Bitget.

What is Ocean Protocol (OCEAN)?

Ocean Protocol is a blockchain-based ecosystem that allows individuals and firms to easily unlock the value of their data and monetize it through the utilization of ERC-20 based data tokens.

Through Ocean Protocol, publishers can monetize their data while preserving privacy and control. Whereas clients can now access datasets that were previously unavailable or difficult to find. These datasets can be created on the Ocean Market, where they can be bought and sold.

OCEAN is a utility token that is used for community governance and staking on data. Moreover, the price of these datatokens is set by an OCEAN-data token AMM pool, which adjusts the price of the data token as it is bought and sold based on supply and demand.

Ocean Protocol Price Prediction 2021

Ocean Protocol holds the 196th position on CoinGecko right now. OCEAN price prediction 2021 explained below with a weekly time frame.

OCEAN USDT Swing Low and Swing High Pattern
OCEAN/USDT Swing Low and Swing High Pattern (Source: Tradingview)

A swing low is when the price makes a low and is immediately followed by two consecutive higher lows. Similarly, a swing high is when the price makes a high and is followed by two consecutive lower highs.

Currently, OCEAN is at $1.25. If the pattern continues, the price of OCEAN might reach the resistance level to $1.97. If the trend reverses, then the price of OCEAN may fall to $0.33.

Ocean Protocol Support and Resistance Level

The below chart shows the support and resistance level of OCEAN.

OCEAN USDT Support and Resistance Level
OCEAN/USDT Support and Resistance Level (Source: TradingView)

From the above daily time frame, it is clear the following are the resistance and support levels of OCEAN.

Resistance Level 1$1.25
Resistance Level 2$1.96
Support Level 1$1
Support Level 2$0.75
Support Level 3$0.58
Support Level 4$0.46
Resistance & Support Level

The charts show that OCEAN has performed a bullish trend over the past month. If this trend continues, OCEAN might run along with the bulls overtaking its resistance level at $1.96.

Accordingly, if the investors turn against the crypto, the price of the OCEAN might plummet to almost $0.46, a bearish signal.

Ocean Protocol Price Prediction 2021 — RVOL, MA, and RSI

The Relative Volume (RVOL) of OCEAN is shown in the below chart. It is an indicator of how the current trading volume has changed over a period of time from the previous volume for traders. Currently, RVOL of OCEAN lies below the cutoff line, indicating weaker participants in the current trend.

OCEAN USDT RVOL MA RSI
OCEAN/USDT RVOL, MA, RSI (Source: TradingView)

More so, the OCEAN’s Moving Average (MA) is shown in the chart above. Currently, OCEAN is in a bearish state. Notably, the OCEAN price lies below 50 MA (short-term), so it is completely in a downward trend. Therefore, there is a possibility of a reversal trend of OCEAN at any time.

Meanwhile, the relative strength index (RSI) of the OCEAN is at level 60.36. This means that OCEAN is in a nearly overbought state. However, this means a major price reversal of OCEAN may occur in the upcoming days. So, traders need to trade carefully.

Ocean Protocol Price Prediction 2021 — ADX, RVI

Let us now look at Ocean Protocol’s Average Directional Index (ADX). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.

OCEAN USDT ADX RVI
OCEAN/USDT ADX, RVI (Source: TradingView)

The above chart represents the ADX of Ocean Protocol. Currently, OCEAN lies in the range at 32.57, so it indicates a strong trend.

From the above chart, the Relative Volatility Index (RVI) of OCEAN. RVI measures the constant deviation of price changes over a period of time rather than price changes. The RVI of OCEAN lies below the 50 level, indicating that the direction of volatility is low. In fact, OCEAN’s RSI is at the 60.36 level thus confirming a potential buy signal.

Comparison of OCEAN with BTC, ETH

The below chart shows the price comparison between Bitcoin, Ethereum and Ocean Protocol.

BTC Vs ETH Vs OCEAN Price Comparison
BTC Vs ETH Vs OCEAN Price Comparison (Source: TradingView)

From the above chart, we can identify the trend of the ETH, BTC and OCEAN is moving at the same level as the trend. This indicates that when the price of BTC increases or decreases, the price of ETH and OCEAN also increases or decreases respectively.

Conclusion

With continuous improvements in the Ocean Protocol network, we can say that 2021 is a good year for OCEAN. For this reason, the bullish price prediction of Ocean Protocol in 2021 is $1.97. On the other hand,  the bearish OCEAN price prediction for 2021 is $0.33.

Furthermore, with the advancements and upgrades on the OCEAN ecosystem, the performance of OCEAN would rise reaching $1.5 very soon. But, it might also reach $2 if the investors believe that OCEAN is a good investment in 2021.

FAQ

1. What is the Ocean Protocol?
The Ocean Protocol is an ecosystem of data assets and services in which assets are represented by data and mechanisms, and services are represented by mechanisms of integration, processing, and sustainability.

2. Where can you purchase OCEAN?
OCEAN has listed on many crypto exchanges which include Binance, Mandala Exchange, CoinTiger, KuCoin, and Bitget.

3. Will OCEAN reach a new ATH soon?
With the ongoing developments and upgrades within the OCEAN platform, it has a high possibility of reaching its ATH soon.

4. What is the current all-time high (ATH) of Ocean Protocol?
On Apr 10, 2021, OCEAN reached its new all-time high (ATH) of $1.93.

5. Is OCEAN a good investment in 2021?
Ocean Protocol (OCEAN) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of OCEAN in the past few months, OCEAN is considered a good investment in 2021.

6. Can Ocean Protocol (OCEAN) reach $2?
Ocean Protocol (OCEAN) is one of the active crypto that continues to maintain its Bullish state. Eventually, if this bullish trend continues then Ocean Protocol (OCEAN) will hit $2 soon.

7. What will be the OCEAN price by 2022?
Ocean Protocol (OCEAN) price is expected to reach $2.5 by 2022.

8. What will be the OCEAN price by 2023?
Ocean Protocol (OCEAN) price is expected to reach $3.6 by 2023.

9. What will be the OCEAN price by 2024?
Ocean Protocol (OCEAN) price is expected to reach $7.5 by 2024.

10. What will be the OCEAN price by 2025?
Ocean Protocol (OCEAN) price is expected to reach $15 by 2025.

Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

Monisha is a Senior Programmer in the Automotive Embedded domain. Her interest in the cryptocurrency field made her write about crypto and blockchain-related news.