Ocean Protocol (OCEAN): How Does the Chart Look Thursday?

Thursday, April 21, 2022 02:04 PM | InvestorsObserver Analysts

Ocean Protocol receives an average long-term technical score of 55 from InvestorsObserver analysis. Our proprietary scoring system considers the trading patterns over the past several months to a year by analyzing the token's consistency, volatility, and where it is relative to long-term averages to determine whether it's a strong buy-and-hold investment opportunity. Currently, OCEAN holds a superior long-term technical analysis score than 55% of crytpocurrencies. Long-term investors employing a buy-and-hold strategy will find the Long-Term Rank especially relevant when allocating their assets and may find additional value finding cyptos with a high short-term technical score to discover tokens that have bottomed out.

InvestorsObserver is giving Ocean Protocol a 55 Long-Term Technical Rank. Find out what this means to you and get the rest of the rankings on Ocean Protocol!

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Trading Analysis

The current trading price of $0.550000000 for OCEAN is -$0.0200000 (-2.93%) below the tokens 100-day moving average of $0.570000000. OCEAN meanwhile is $0.2200000 (-3217.83%) above its 52-week low of $0.320000000 and -$1.12000000 (-565.48%) under its 52-week high price of $1.670000000. Ocean Protocol's current price relative to the tokens long-term average and 52-week high and low, gives the crypto an average long-term technical score of 55. The price movement and range of OCEAN suggest that investors are neutral on the token at this time. Ocean Protocol has a total market value of $336,253,087.28 with an average average daily volume of $192,044,916.24 worth of the currency exchanged over a typical 24 hour period. As of the past 24 hours, OCEAN's volume is below its average with $23,115,515.91 exchanged in total. This token's subclass Decentralized Finance: DeFi, or decentrialized finance, Tokens are tokens that are created as an alternative to traditional financial institutions. These tokens are designed to alleviate the needs for brokers, exchanges, and/or banks by offering traditional financial products or services without the need for a central authority through the use of smart contracts.

Summary

Trading patterns over the last year for Ocean Protocol leads to the token's an average long-term technical score of 55 as its consistency, volatility, and relation to long-term averages has given investors reason to be neutral on the token. Click Here to get the full Report on Ocean Protocol (OCEAN).