Analytics

TrustSwap (SWAP) and Ocean Protocol (OCEAN) Technical Analysis: Will Bulls Cave In?

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    TrustSwap and Ocean Protocol bulls are weak. OCEAN may drop to $0.50 while SWAP prices are open to $5 if buyers overcome yesterday’s losses.

    TrustSwap (SWAP)

    The TrustSwap protocol aims to revolutionize DeFi by introducing split payments, subscriptions, and cross-chain token swaps using SWAP for general governance.

    Past Performance of SWAP

    The SWAP token price is stable on the last trading day.

    Even so, the uptrend is firm, and the TrustSwap coin could print higher in subsequent sessions.

    Reading from the SWAP technical analysis in the daily chart, TrustSwap token buyers are still in control.

    Day-Ahead and What to Expect

    Overall, TrustSwap coin buyers are bullish.

    However, for SWAP crypto uptrend continuation, there must be a close above last week’s highs of around $2.

    This would confirm SWAP coin buyers of last week, setting the next phase of higher highs above $2.2 towards March 2021 peaks of around $5.

    TrustSwap Technical Analysis

    SWAP token prices remain in a tight trade range, but encouragingly within the September 12 bull bar.

    In the days ahead, uptrend confirmation would depend on a close above $2 and $2.2, opening the doors for $5 as aforementioned.

    On the reverse side, a dump below September 12 lows at $1.3 may see the SWAP coin retract back to $0.85.

    Ocean Protocol (OCEAN)

    The Ocean Protocol allows users to lock and monetize their data using the OCEAN utility token.

    Past Performance of OCEAN

    There are risks of lower lows, reading from the OCEAN technical analysis in the daily chart.

    At the time of press, the OCEAN crypto is relatively stable, struggling to unwind last week’s losses.

    Overall, the OCEAN token is under pressure, trending precariously under the main support line—now support—the middle BB.

    Day-Ahead and What to Expect

    The OCEAN token is technically bullish from a top-down approach.

    However, OCEAN coin bears are in control in the immediate term as the token trades within a bear breakout pattern.

    The bearish engulfing bear candlestick of September 7 appears to be setting the pace for possibly more drawdown.

    OCEAN Technical Analysis

    From volumes analysis, OCEAN crypto is bearish.

    Nonetheless, there are flashes of support provided there is no confirmation of the bearish engulfing and the double bar bearish reversal pattern of September 7.

    As such, the OCEAN token is bullish above last week’s lows of around $0.65. If there are lower lows, OCEAN may tumble to $0.50—July 2021 highs.

       
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