- OCEAN bulls have made a new 90-day high in the past trading day.
- Support around $0.4202 has neutralized the bears’ efforts to dominate the market.
- According to indicators, the bull run is not over.
Initial efforts by bears to take Ocean Protocol (OCEAN) were evident, with the price falling to an intraday low of $0.4202 before finding support. However, despite the bears’ best efforts, the bulls pushed the price higher, reaching a session high of $0.5686 (90-day high). At the time of writing, the OCEAN price has risen by 33.71% to $0.5661.
Market capitalization rose by 15.07% to $305,863,332 as a result of the bullish surge in the price of OCEAN, but 24-hour trading volume dropped by 21.95% to $104,021,621, leaving investors uncertain as to whether the wave is indicative of a genuine bull market or whether it will soon retrace back to its previous levels.
OCEAN/USD 24-hour price chart (source: CoinMarketCap)
As the Envelope indicator trends higher, with the upper band at 0.46608513 and the lower band at 0.38142789, the present trend may continue, and the price of OCEAN will climb even more in the following days. This positive trend might be strengthened fu…
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