Ocean Protocol Technical Analysis: OCEAN/USD hits a new all-time high; market capitalization at $100 million
- OCEAN is the best performing altcoin in the last two weeks.
- OCEAN/USD is up 2,500% since its all-time low and it’s currently ranked 83rd by market capitalization.
The amazing OCEAN rally continues as it seems bulls have unlimited power. Despite the market slowing down, OCEAN continues hitting new all-time highs even though its volume has been declining since March 2020. Usually, when Bitcoin and Ethereum are rallying, most altcoins stop or even crash, but it seems that OCEAN doesn’t care.
OCEAN/USD daily chart
OCEAN dropped below the daily 12-EMA several times in the past, however, the buyers used this level to bounce back up. The trading volume is increasing on Bittrex specifically, but decreasing overall.
OCEAN/USD weekly chart
We have a similar story here with OCEAN well above both EMAs and an extended RSI that doesn’t seem to faze the bulls whatsoever. The MACD is bullish and, of course, OCEAN is not facing any real resistance level to the upside.
Author
Lorenzo Stroe
Independent Analyst
Lorenzo is an experienced Technical Analyst and Content Writer who has been working in the cryptocurrency industry since 2012. He also has a passion for trading.
