The recent price action for The Graph (GRT) and Ocean Protocol (OCEAN) is positive and could lead to a sizeable increase in the next few weeks.
The Graph is an indexing protocol used for querying data whose native token is GRT. The GRT price has fallen under a long-term descending resistance line since reaching an all-time high of $0.92 in February 2021. The downward movement led to a low of $0.05 in November 2022. The price has increased since, reaching a new yearly high of $0.23 last month.
Despite the increase, the price was rejected by the resistance line once more (red icon). Despite the rejection, the weekly RSI is still above 50, which is considered a bullish sign.
If the GRT token price breaks out, it could increase to the next resistance at $0.52. This would amount to a 244% increase from the current price.
However, if the rejection continues, The Graph price could revisit its yearly lows near $0.06.
Ocean Protocol (OCEAN) Price Increase Is Just Beginning
Ocean Protocol also specializes in the field of artificial intelligence. However, unlike The Graph, it focuses on the monetization of data. The technical analysis from the weekly time frame gives a bullish outlook for OCEAN. The
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Author: Valdrin Tahiri
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