Artificial intelligence has advantages for businesses and society, but good AI models need more data. The strength of AI knowledge paired with huge data access is in the hands of major companies, such as Google and Facebook. Ocean Protocol promises to distribute the benefits of AI by allowing anybody to access and monetize data. In this article, we will look at the Ocean Protocol price prediction.
What Is the Ocean Protocol (OCEAN)?
Ocean Protocol is a crypto on-ramp for data services that enable data to be valued. It was founded in 2017 and connects data suppliers and customers via blockchain technology. Data owners may also monetize their data by selling it through the Ocean Market app. Consumers can purchase previously unavailable private data.
This is especially beneficial for AI practitioners and data scientists who gain from increased data availability, crypto-secured provenance, and revenue potential. Compute-to-data enables the use of private data in AI models and research without explicitly disclosing it. Ocean Protocol users may profit from data curation by staking on it. Meanwhile, developers may use Ocean Libraries to create and deploy their decentralized markets, wallets, and other applications.
The OCEAN token is the protocol’s native utility token and default unit of exchange for buying and selling data on the Ocean Market. We can use it for governance and stakeholder management. Before we dive into Ocean Protocol Price Prediction, it is vital to learn how the protocol works.
How Does Ocean Protocol Works?
Datatokens connect data assets to blockchain and decentralized finance solutions. These are ERC-20 coins that represent data access rights. Providers publish data services by installing and minting datatokens, and consumers use datatokens to access those services. Then, a consumer delivers 1.0 datatokens to a data provider to obtain a dataset. They may potentially offer someone else access by sending them 1.0 datatokens.
After posting datatokens on the Ocean Market, the publisher can set a fixed price or use automatic price discovery with the assistance of an automated market maker. Balancer powers the AMM pools, which include the datatoken and OCEAN as liquidity. The price depends on the ratio of the two tokens’ numbers. When the proportion of datatokens in the pool falls, so does their price, and vice versa. As a result, the datatoken price modifies automatically.
By staking their OCEAN tokens in a liquidity pool, OCEAN holders may curate data. This allows them to collect fees while exposing them to the danger of temporary loss and rug pulls. Datatokens serve as a link between the data sector and DeFi. They may be kept in crypto wallets, exchanged on crypto exchanges, transferred to a decentralized autonomous organization, and used to do other DeFi transactions because they are ERC-20 tokens.
That’s everything we need to know about Ocean protocol. Next, we will look at the technical analysis to help us determine Ocean Protocol Price Prediction.
Ocean Protocol Technical Analysis
Short-term technical analysis of the Ocean Protocol price reveals that OCEAN coin market sentiments harm the current trading session. The average Ocean Protocol daily price is between $0.829 and $1.25. The Bollinger band has been compressing since the beginning of the year, and the Ocean coin value has hit an all-time high.
The daily chart of the Ocean Protocol pricing reveals that following a morning star formation on July 21. Additionally, the OCEAN coin is now selling at about $0.5956. Traders began selling Ocean Protocol, and the price breached and challenged the $0.58186 support level. Reading the Ocean Protocol price prediction support and resistance levels, the next immediate resistance level is $0.84009. If OCEAN breaches this price level, the OCEAN will touch $1.038. Ocean Coin must pass this. If the neutral price trend shifts to a negative momentum, the cryptocurrency’s minimum price will find support at $0.804, which is extremely close. If it fails to recover, the next price drop will be approximately $0.3282.
Regarding critical technical indicators for the Ocean Protocol price projection, the RSI is at 41.19, which is considered neutral. In Ocean Protocol, the MACD line failed to pass the signal line, suggesting bearishness. OCEAN must form a breakout or bullish candlestick pattern to begin an uptrend. The price of Ocean Protocol is hovering slightly above its 200-day moving average and attempting to break through the 50-day and 20-day moving averages. The OBV is growing somewhat but not significantly. Additionally, price-volume trends are neutral, with no confirmation.
Ocean Protocol Price Predictions
Ocean Protocol price prediction predicts that the Ocean Protocol cryptocurrency will reach a maximum price of $1.14 by 2026. It will be a useful addition to the portfolio if it can achieve the expected price within the time frame. The current price of Ocean Protocol is around half of its all-time high. The percentage is less than the maximum price. Suppose the Ocean Protocol price prediction moves as planned and the huge value addition continues in the future. In that case, the value of the token and the company’s market cap will also rise, making Ocean Protocol a solid investment in the future.
Ocean Protocol Price Prediction 2022
Ocean Protocol price projections suggest that the first months of 2022 will trade at $0.60, with a minimum price of $0.73 based on price forecasts. The average Ocean Protocol price at which we would trade the currency in 2022 will be about $0.78.
Ocean Protocol Price Predictions 2023
According to our Ocean Price forecast, future outcomes will be advantageous for investment; the average price at which OCEAN trades for the year is $0.89. The Ocean Protocol price prediction for the year indicates that it will reach a high of $0.96.
Ocean Protocol Price Prediction 2024
According to long-term projections from several sources, the price at the beginning of 2024 will be $1.17. Additionally, the average price will be $0.82. The price of the Ocean protocol will cross $0.99, making the OCEAN currency an excellent long-term investment.
Ocean Protocol Price Prediction 2025
According to the Ocean Protocol price prediction, the OCEAN price will begin at roughly $1.45 in 2025 after breaking the all-time high. The prediction algorithm predicts that the average price of the Ocean for the year will be $1.19 and that the Ocean Protocol will reach a maximum fee of $1.33 and will be a smart investment over the next five years.
The OCEAN currency has growth potential, but no significant unwinding power has been witnessed other than new technical enhancements, according to ocean price prediction and prognosis. Its cost is rising slowly and steadily. However, it cannot increase because of the nature of the crypto industry and the organizations involved. As a result, enormous value addition can be predicted at any time, which can shatter the levels above and go high. It is also possible for the opposite to occur.
Ocean Protocol Price Prediction 2026
According to our projection, the price of Ocean Protocol (OCEAN) will not fall. Our Ocean Protocol forecast statistics show that the coin price will be about $0.97. The price of the Ocean Protocol can reach a maximum of $1.14, with an average trading price of $1.08.
