$OCEAN Ocean Protocol / USD Technical indicators - June 12, 2024
In the current technical indicators for Ocean Protocol (OCEAN) against USD, indicators suggest a predominantly negative sentiment without explicitly indicating buying or selling actions.
Technical Indicators
The Relative Strength Index (RSI) stands at 27.424, indicating a low level of price momentum. Both the Stochastic Oscillator (STOCH) and the Stochastic RSI (STOCHRSI) are in oversold territory, suggesting a potential reversal in price. The Moving Average Convergence Divergence (MACD) is negative at -0.057, indicating a bearish trend. The Average Directional Index (ADX) at 38.173 suggests a strong downtrend. Additionally, the Williams %R, Commodity Channel Index (CCI), Highs/Lows, Ultimate Oscillator, Rate of Change (ROC), and Bull/Bear Power all indicate a negative sentiment, with most in oversold conditions.
Moving Averages
The moving averages summary indicates a strong sell sentiment, with all 12 moving averages signaling a negative trend. Short to long-term moving averages, including MA5, MA10, MA20, MA50, MA100, and MA200, all suggest a downward price trajectory.
Pivot Points
Pivot point analysis reveals potential support and resistance levels. The central pivot point is at 0.6912, with support levels identified at 0.5881, 0.6263, and 0.653, and resistance levels at 0.7179, 0.7561, and 0.7828.
In conclusion, based on the technical indicators, Ocean Protocol OCEAN / USD currently demonstrates a bearish sentiment, with oversold conditions and negative trends across various metrics.$OCEAN