- Ocean Protocol token could pump 100% in the coming quarter.
- 5% bearish correction in store for CyberConnect coin CYBER.
- Technicals predict a drop for STEEM.
YEREVAN (CoinChapter.com) — The crypto market took a hit in the previous week, wiping $83 billion off its total valuation. However, several tokens veered from the overall sentiment. Here are Ocean Protocol (OCEAN), CyberConnect (CYBER), and Steem (STEEM) price predictions.
#1 Ocean Protocol (OCEAN) could double in price in Q3-Q4
Ocean Protocol’s same-name token traded at $0.3 on Aug 24 and formed a setup known as the bull flag. The latter consists of a shart uptrend, the pole, and a consolidation period between two parallel trendlines, the flag.
The flag typically takes the asset’s price incrementally lower while maintaining a steady price swing.
The bull flag predicts a breakout for the token if it crosses above the upper trendline of the flag and confirms the setup. Moreover, the expected rally equals the flag pole, pinning the target price for OCEAN at approximately $0.61, or over 100% higher than the current value.
Notably, while OCEAN’s daily price increase was insignificant, below 1%, the trading volumes shot up 40% in the previous 24 hours, which could mean an increasing number of holders are getting rid of their OCEAN coins. In this case, a drop to the next significant support at $0.25 is possible, a 15% drop for the token.
#2 CyberConnect (CYBER) exhibited several bearish cues
CyberConnect token CYBER price dropped nearly 30% in the previous 48 hours and reached just below $3.9 ahead of the New York session on Aug 24.
However, the token hinted at additional losses due to the declining trading volumes, over 40% in the previous 48 hours. Combined with the slumping price action, the drop in trading volumes signifies growing passivity among traders, which could lead to another leg down.
Additionally, the coin traded below its 20,50, 100, and 200-hour exponential moving averages, and the MACD oscillator crossed the bearish zone. If CYBER should fall in the coming session, a target would likely be $3.74, or 5% lower than the current price.
#3 STEEM coin trading volume outperforms competitors, but the prognosis is bearish
The STEEM token changed hands at $0.16 on Aug 24, after a 4% daily uptick. The token followed the ubiquitous market decline in the previous week.
However, according to CoinMarketCap, the coin’s trading volumes soared over 450% in the previous 24 hours. As in the case of OCEAN, STEEM price risks another decline, as surging trading volumes paired with a stagnant price action signify a selloff wave.
Thus, should a decline follow, a likely target would stand at the support line at $0.15, or over 5% lower than the current value.