OCEAN trades between support at 2360 satoshis, and resistance at 3 160 satoshis.
Technical indicators for OCEAN like the DAG are bullish.
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The Ocean Protocol (OCEAN) price is moving just at a critical area of resistance. It is likely that it exceeds this area.
Likewise, Constellation (DAG) price has broken through a descending resistance line and is consolidating in anticipation of another upward movement.
The trader cryptomonnaies @TheEuroSniper has mentioned several digital pieces that he believes have strong potential rally. In this article, we’ll take a look at two of these: the OCEAN and the DAG.
The OCEAN has been falling since August 18, when price peaked at 6,071 satoshis. Since then the price has also followed a descending resistance line.
The coin is currently trading within a significant resistance zone, located at 3,160 satoshis. In addition to having initially acted as support, this area also coincides with the descending resistance line. If it exceeds this zone, this would therefore confirm that the price has passed its resistance.
Technical indicators in the daily timescale are bullish. The MACD formed bullish divergences, and the Stochastic Oscillator generated a bullish cross. A move out of the current resistance zone would also allow the RSI to break through the 50s, and the MACD to enter negative territory.
Additionally, price created a bullish hammer and hit its highest daily close since falling below the resistance zone. The OCEAN should therefore confirm its advance and climb towards 3,900 satoshis.
DAG price is also falling along a descending resistance line from its August 21 high at 220 satoshis.
That said, he broke that resistance line on October 2. Although the price is declining, it has only validated the 93 satoshis area as support and has started to consolidate.
The considerable bearish divergence in the RSI like the MACD increases the possibility of the price going up, first towards 124 satoshis, or even 160 satoshis.