The price of Ocean Protocol registered a 182% increase in the past month. But this could be only be the beginning. After all Ocean Protocol’s market capitalization only sits at a modest 85 million USD.
Ocean Protocol’s ICO ended on May 3rd 2019. Currently, the Ocean price sits at 2.07x the ICO price. Therefore the selling pressure on ICO investors is low as the price is comfortably above “break even”. Optimal conditions for a potential 10x run.
“Ocean Protocol’s mission is to free data from silos and empower people by equalizing data access for all. By allowing algorithms to come to data, we’re enabling the safe and secure sharing of data across all parties.”
Ocean Protocol Blog
Moreover, Ocean Protocol seems to be working with Daimler AG!
“Hartmut Mueller, Vice President IT Technology & Cross Functions, Daimler AG, added, “We believe in the power of Blockchain to unlock the value of data in a decentralized way. On our journey towards a data driven company this collaboration with Ocean protocol enables us to build a secure enterprise B2B data marketplace to monetize and put data to work.””
Ocean Protocol Blog
Ocean Protocol Price Prediction – 182% in one month!
The monthly time frame doesn’t show much, except that the price of Ocean is at an all time high. Besides, the trading volume hasn’t really picked up yet. On the contrary it seems to be dying out. This was the only recent month where the volume increased with respect to the previous one.
Ocean Protocol Price Prediction – should the price correct now, then…
Should the Ocean price undergo a correction now, it could find support at the Fibonacci levels at ±0.15$ and ±0.117$. A correction however, doesn’t necessarily have to occur. After all the MACD is still developing in a positive direction.
Only the RSI could be of concern, as it is currently in strongly overbought regions.
Ocean Protocol Price Prediction – Support at the 0.382 Fib level!
However the 0.382 Fib level at ±0.15$ has been successfully acting as a support. The EMAs are also crossing in bullish manner and the golden cross confirms the bull trend!
Nevertheless, we can notice a bearish development of the MACD on the daily frame, with the MACD lines seeminglycrossing bearish while the histogram is dropping lower. The RSI has a similar development too.
Regardless, Ocean could be on its way to a new all time high.
Ocean Protocol Price Prediction – against BTC at the 0.382 Fib support!
Lately, the Ocean price strongly bounced off the 0.382 Fib support at ±0.00001568BTC, and if broken, the price could meet strong support at the golden ratio at ±0.00001250BTC. Right now, Ocean Protocol seems to be on its way to new all time highs, as the MACD isn’t giving any bearish signs on the weekly frame.
Keeping in mind the small market capitalization, and the fact that Ocean Protocol is only traded on the relatively smaller exchanges KuCoin and Bittrex, a listing on a major exchange such as Binance or Coinbase could lead to a strong increase in price. Therefore Ocean Protocol has a lot of upwards potential, and its partnerships seem to be very promising!
In order to support and motivate the CryptoTicker team, especially in times of Corona, to continue to deliver good content, we would like to ask you to donate a small amount. Independent journalism can only survive if we stick together as a society. Thank you
Nexo - Your Crypto Banking Account
Instant Crypto Credit Lines™ from only 5.9% APR. Earn up to 8% interest per year on your Stablecoins, USD, EUR & GBP. $100 million custodial insurance.
It is super easy to buy Ripple. Just take a look at our exchange comparison!
This post may contain promotional links that help us fund the site. When you click on the links, we receive a commission - but the prices do not change for you! :)
Disclaimer: The authors of this website may have invested in crypto currencies themselves. They are not financial advisors and only express their opinions. Anyone considering investing in crypto currencies should be well informed about these high-risk assets.
Trading with financial products, especially with CFDs involves a high level of risk and is therefore not suitable for security-conscious investors. CFDs are complex instruments and carry a high risk of losing money quickly through leverage. Be aware that most private Investors lose money, if they decide to trade CFDs. Any type of trading and speculation in financial products that can produce an unusually high return is also associated with increased risk to lose money. Note that past gains are no guarantee of positive results in the future.
More from Altcoin
OMG Price Forecast – Will the OMG Price Rise Again?
The OMG price slipped from $10 to $3.2 with no end in sight! Can the OMG price rise again soon? OMG …
How To Claim Your Free Uniswap (UNI) Tokens Worth Over $1000!
If you've ever used Uniswap, congrats! You are eligible to claim (at least) 400 free UNI tokens, currently trading at …
Swipe Price Analysis – How Low Will the SXP Price Fall?
The Swipe price has suffered massive losses. Can it find support now or will the fall continue? Swipe Price Forecast – …