Price Prediction

Ocean Protocol Price Prediction: OCEAN Hits a New ATH

  • Ocean Protocol reached a new all-time high of $1.67.
  • Bearish OCEAN price prediction for 2021 is $0.89.
  • OCEAN price may also reach $3 if it exceeds $2.27 soon.

Today, Ocean Protocol (OCEAN) reached a new all-time high price of $1.67, according to CoinGecko

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 Price Predicion

The below chart shows the Simple Moving Average (SMA), Exponential Moving Average (EMA), and Relative Search Index (RSI) of Ocean Protocol (OCEAN).

OCEAN/USDT price chart with SMA, EMA & RSI (Source: TradingView)

OCEAN has shown a great performance in the past few days despite the wild market swings of the cryptocurrency world. Also, the graph displays the price surge of the cryptocurrency to over +191% in the past 30 days. 

Meanwhile, the relative strength index (RSI) of the OCEAN is already at its overbought state. For this reason, traders must be careful because OCEAN might trigger a price reversal any time, as shown in this Ocean Protocol price prediction.

According to CoinGecko, the CHZ price is $1.62, at the time of writing.

OCEAN/USDT Price Chart (Source: TradingView)
  • Resistance Level 1 – $1.82
  • Resistance Level 2 – $2.27
  • Support Level 1 – $0.89

The above chart shows the great performance of OCEAN in the last few days. OCEAN is showing a bullish trend. However, if the trend continues, OCEAN will run along with the bulls, overtaking its $1.82 resistance level and climb higher to $2.27 and even higher.

If the bullish trend continues, the OCEAN can surge over it’s all-time high (ATH) price of $1.67. In contrast, if the investors turn against the cryptocurrency, the bears might take over. More so, the OCEAN price might plummet to almost $0.89, a bearish signal.

Ocean Protocol (OCEAN) Price Prediction 2021

Nevertheless, if the crypto bull run continues, OCEAN may exceed prior expectations. If it reaches the Fib level at $2.27, it may even challenge the $3 psychological barrier. However, this may only happen in the latter part of the year if the crypto market maintanis its rally.

In summary, bullish Ocean Protocol price prediction is $2.27, and may even reach $3 later in 2021. On the other hand, the bearish Ocean Protocol price prediction is $0.89.

Disclaimer: The opinion expressed in this chart solely the authors. It is not interpreted as investment advice.

The News Crypto Staff

The News Crypto is a group of crypto journalists writing about the latest happenings in the crypto and blockchain industry.

Related Articles

Back to top button