When it comes to Ocean Protocol Price Prediction, there is a lot of information available. Firstly, you need to understand that Ocean Protocol is a cryptocurrency. As such, a prediction of the price will depend on various factors, including volume trend and buy-and-sell ratings. If you’re a beginner in the cryptocurrency market, it can be helpful to start with a volume trend chart.
OCEAN price forecast
The Ocean Protocol price is predicted to hit $0.1951 USD by the end of May 2023. This price is based on current developments, historical data and social sentiments of the community. The coin’s price will probably be between $0.1932 and $0.2049 in 2020. However, we can’t rule out the possibility that it may hit the $5.19 mark or even higher.
This is because of the potential for growth, increased adoption and an eventual increase in price. If the price goes up, the token may end up at a maximum value of $4.35 in 2029. Conversely, if the market falls, it could reach a minimum of $3.59, but can reach a high of $4.35.
One of the most popular tools used to predict OCEAN price is the Simple Moving Average (SMA). This indicator gives the average closing price of OCEAN in the chosen time period. The SMA is calculated by adding up all closing prices for a specified period of time and dividing them by the number of days. For example, a 12-day simple moving average is calculated by adding up all closing prices for the previous 12 days, dividing them by 12. Similarly, an exponential moving average, on the other hand, gives more weight to recent prices and reacts quicker to price changes.
The Ocean Protocol price is currently moving just above the 200-day EMA and trying to move over the 50-day EMA. It is also trying to break above the 20-day EMA, but the On-Balance Volume indicator is rising but is not showing much strength. On October 27, 2017, Ocean Protocol’s price plunged from $0.928 to $0.7973 due to murky regulatory environment in the United States. This led to increased volatility in the cryptocurrency market. As a result, the global crypto market dropped significantly on that day.
In the long term, the Ocean Protocol price forecast will be based on the trend. It is likely to follow the same growth rate as Bitcoin between 2009 and 2021. This means that the cryptocurrency will see a rise of about 50% in the next five years. If it continues to grow at that rate, it could reach $25.
During the late May crypto crash, OCEAN lost over 67% of its value. However, the price was able to rebound and reach $1.52 on 9 May 2021. Then, the price fell to $0.50 on 23 May 2021. So, the long-term outlook for this cryptocurrency is very positive. If you want to take advantage of this cryptocurrency, consider investing in it. It will be profitable for you in the long run.
While it is important to note that technical analysis of cryptocurrency is rarely 100% accurate, there are still some methods to predict the price of OCEAN and make trading decisions accordingly. The Ocean Protocol price forecast tool from TradingView uses the most popular technical indicators to determine OCEAN’s buy and sell ratings.
OCEAN buy-and-sell rating
OCEAN is an ERC-20 token which operates on the Ethereum blockchain. As a result, it is backed by Ethereum’s robust proof-of-work network, which protects it from various attacks. It previously operated on a proof-of-authority sidechain, but this was scrapped to stay compatible with the Ethereum ecosystem. Moreover, the developer of this token has applied military-grade security practices in designing its smart contracts.
OCEAN’s Standalone Credit Profile is graded bb+, reflecting its quality land bank and financial flexibility. The company has stable access to capital, as evidenced by recent debt and equity issuances. As of end-2021, the firm reported CNY21.7 billion of cash on hand. Moreover, the company’s ratings incorporate a one-notch uplift, resulting from its moderate strategic and operational linkages with China Life Insurance Company Limited.
A company’s earnings picture is an important factor that influences its stock price in the short-term. Rising earnings estimates usually signal improving business trends. Consequently, it’s a good idea to buy stocks that have an upward trend in their earnings estimates. The stock price could also go up if this trend continues.
OCEAN price to volume trend
Ocean Protocol is an open source project, newsletter, and social network. Its goal is to create an ecosystem that allows people to harness the power of data and create value from it. The project is managed by a nonprofit foundation based in Singapore, and its ecosystem is made up of a variety of contributors. These contributors share a vision of using data to create artificial intelligence. The founders of Ocean Protocol include entrepreneurs, investors, and industry leaders. It has a limited supply of 1.41 billion OCEAN tokens.
As you might expect, OCEAN prices fluctuate along with wider market trends. For instance, in March 2021, the entire crypto market was surging. Bitcoin was in the middle of a major bull run, and the price of Bitcoin affected the prices of all major cryptocurrencies. Similarly, OCEAN’s crash in May 2021 had a ripple effect on all major cryptocurrencies. There have been several theories as to what caused OCEAN’s crash, including a crackdown by Chinese authorities and the resulting liquidations.
As of the date of this writing, the Ocean Protocol price is in bearish market sentiments. It is trading in a range of $0.829 to $1.25. At the beginning of the year, the Bollinger band was squeezing as the coin rose towards its all-time high.
The price of OCEAN depends on the balance between supply and demand on the exchanges. If there are more buyers than sellers, the price of OCEAN will rise. Conversely, if more people sell, it will fall. It is important to note that OCEAN’s price does not reflect global prices because trading volume and liquidity varies from exchange to exchange.
Another method for interpreting the OCEAN Protocol price history is technical analysis. This technique involves studying a price chart to understand past price movements. It is particularly helpful for identifying large price swings, which are often accompanied by high trading volumes. Moreover, it is useful for determining whether a cryptocurrency will rise or fall in price.
If the price of OCEAN Protocol price is below the 50-day SMA, it may be a good time to buy. If the price is above the 50-day SMA, it will likely increase in price. On the other hand, if the price falls below the 200-day SMA, it will probably go down.
Moreover, news about the project, asset flows on exchanges, public sentiment, and emerging trends in the crypto and global economies may also affect its price. While the price of OCEAN may fluctuate, it remains a relatively stable store of value and is a good investment opportunity in the long term.
The technical whitepaper for Ocean Protocol has 44 pages, and was published on 9 December 2020. It highlights the current aim of the project, which is to make the benefits of artificial intelligence (AI) more accessible to all. It also highlights how the project has implemented tools for data marketplaces. These tools are implemented in solid code running on the Ethereum Mainnet and in a community data marketplace web application.
A professional writer by day, a tech-nerd by night, with a love for all things money.