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.
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.
From the above daily time frame, it is clear the following are the resistance and support levels of OCEAN.
Resistance Level 1
Resistance Level 2
Support Level 1
Support Level 2
Support Level 3
Support Level 4
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.
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.
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.
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.
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.
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.
Ethereum extended decline below the $3,200 support zone against the US Dollar. ETH price remains at a risk of a sharp decline below $3,000.
Ethereum extended decline below the $3,200 and $3,150 support levels.
The price is trading below $3,200 and the 100 hourly simple moving average.
There is a major bearish trend line forming with resistance near $3,120 on the hourly chart of ETH/USD (data feed via Kraken).
The pair could start a fresh increase if it clears the $3,120 and $3,150 resistance levels.
Ethereum Price Faces Resistance
Ethereum extended decline below the $3,200 support zone. ETH even broke the $3,150 support level and settled below the 100 hourly simple moving average.
There was even a break below the $3,120 level. A low is formed near $3,050 and currently correcting losses. It is now approaching the $3,085 resistance. The stated level is near the 23.6% Fib retracement level of the recent drop from the $3,192 swing high to $3,050 low.
The first major resistance is near the $3,120 level. There is also a major bearish trend line forming with resistance near $3,120 on the hourly chart of ETH/USD. The trend line is near the 50% Fib retracement level of the recent drop from the $3,192 swing high to $3,050 low.
Source: ETHUSD on TradingView.com
If there is an upside break above the trend line, the price could rise towards the $3,200 resistance zone. The next major resistance is near the $3,225 level, above which ether price could gain bullish momentum. In the stated case, the price could rise towards $3,350 in the near term.
More Losses in ETH?
If ethereum fails to start a fresh increase above the $3,120 level, it could continue to move down. An initial support on the downside is near the $3,050 level.
The first key support is now forming near the $3,000 level. A downside break below the $3,000 level might accelerate losses in the near term. The next major support for the bulls may perhaps be near the $2,880 handle. Any more losses may perhaps push the price towards the $2,750 level in the coming days.
Hourly MACD – The MACD for ETH/USD is now gaining pace in the bearish zone.
Hourly RSI – The RSI for ETH/USD is still well below the 50 level.
NFT transactions produced $10.7 billion in the third quarter of 2021.
FTX introduced a platform solely available to customers in the United States.
Mastercard has announced that customers of Coinbase’s planned non-fungible token (NFT) marketplace will be able to use their credit cards to make purchases as part of a new relationship with the cryptocurrency platform.
According to Raj Dhamodharan, Mastercard’s VP of digital asset and blockchain products, “digital goods” like NFTs may be bought using a credit card under the agreement. Non-crypto natives will be able to participate in NFTs without needing a wallet or the purchase of ETH or another cryptocurrency.
More Than One Million People Have Signed Up
According to the company, more than one million people have signed up to be placed on the waiting list for Coinbase’s NFT marketplace since it was first announced in October. The NFT platform will be made available to users in the United States initially before being made available to consumers all over the globe by the cryptocurrency exchange.
Before Coinbase’s announcement in October, major cryptocurrency exchanges like FTX and Binance had created their own NFT markets in response to the growth and interest in the NFT business in 2021. To offer users the greatest amount of liquidity and the lowest possible fees, Binance launched an NFT platform in June. In September, FTX introduced a platform solely available to customers in the United States.
According to the most recent study conducted by DappRadar, the demand for NFTs will likely surge in 2022. According to the platform, the first ten days of 2022 are “looking strong,” with NFT transactions producing $10.7 billion in the third quarter of 2021 and $11.9 billion in the fourth quarter of the same year.
Decentralization, at its core, is and has always been a community-driven revolution in money and culture, and cryptocurrency has served as a key player in the movement. After the advent of cryptocurrency, Dogecoin came in as a meme coin purely to mock investors who bought crypto despite a lack of understanding of the concept. Ironically, Dogecoin grew to become one of the most valuable coins in terms of market capitalization.
Once Dogecoin emerged as a trend it rapidly spread into popular culture and with its widespread success, several tokens based on dog breeds were been created, including Shiba Inu, Baby Shiba Inu, and Floki Inu – named after Elon Musk’s pet.
Dogecoin is now being accepted as a form of payment at Coinbase Commerce, paving the way to conventional utility, and with the Metaverse growing and evolving, users can already use several cryptocurrencies, including meme coins as payment in various ecosystems. With the power of artificial intelligence meme coins have finally come to life.
A relative newcomer in the space Kitty Inu ($KITTY) splashed onto the scene with a Fair Launch on October 24, 2021. Capitalizing on the dog-themed coin craze, the adorable Kitty Inu meme is of a cat disguised in a dog costume, seemingly so she can run with the big dogs. The female-led team behind Kitty Inu is comprised of experienced industry professionals, who have wasted no time laying out their vision and embarking on some seriously ambitious projects, especially given the current microcap status of the project.
The $kitty token will be the native currency of an NFT based Free-to-Play and Play-to-Earn racing game, KittyKart, being built on the Ethereum blockchain where players race karts to “mine” NFT assets. Through continued gameplay, mined NFT assets will then confer either skillset advantages or enhancements to visual appearance. Assets will have the ability to be “mined” (earned) through gameplay or bought and sold on the secondary market via the in-game marketplace. From the preview trailer on the Kitty Inu website, it appears KittyKart will be colorful, serious, and fun, having been inspired by the likes of past favorites such as Mario Kart and Crash Bandicoot. Further broadening the game’s appeal, Team Kitty has been acquiring popular NFTs, the likes of a Bored Ape, a Deadfellaz, and Rumblekong to name a few, for use to populate the game with characters that will be inclusive of the larger community. The beta release of Kitty Kart is expected around the end of January or early February of 2022.
Kitty Inu is also engaged in a partnership with The Culture Dao ($CULTUR) a decentralized Web3 Pixar and Virtual Beings Development Guild founded by Emmy award winner Edward Saatchi (founder of Fable Studios and co-founder of Oculus VR story studio) and blockchain developer Anna Nevison, M.S. to assist in the development of an Artificially Intelligent Kitty Virtual Being. AI Kitty would tap into an array of data from sources such as news & world events, cities, communities, social media, facial analysis, and Google trends to teach her to feel. The intent is that AI Kitty would empathize on multiple scales, gathering data from the communities that adopt her and once perfected in the metaverse, she would find a place in IRL public spaces.
Furthering the use-case of their token, Team Kitty Inu also recently partnered with Shopping.io where non-us holders can use their Kitty Tokens to shop at major retailers online. They have also have retained the outside legal counsel of the international law firm of Squire Patton Boggs to aid in the development of their business enterprise. Furthermore, Kitty Inu is Certik audited and the Lead Developer is KYC Verified by InterFi Network.
Kitty Inu ($kitty) is currently available for trade on Uniswap and Pancakeswap.