Origin Protocol (OGN) and The Graph (GRT) Technical Analysis: Will the Bear Run Continue?

Origin Protocol (OGN)

The platform leverages Ethereum and the IPFS networks to create a P2P network to facilitate trade using OGN as the primary currency.

Past Performance of OGN

The Origin Network token is unexpectedly resilient in the face of market-wide correction.

Provided OGNUSDT prices trend above $0.95; buyers have the upper hand.

Day-Ahead and what to Expect

The uptrend is clear from the daily chart, and losses of this week seemed to have confirmed a retest.

Therefore, every low may be an opportunity for OGN coin traders to double down in a bullish breakout pattern.

The immediate resistance level and the target is at $1.3, while support lies at $0.95.

Origin Protocol Technical Analysis

The OGNUSDT price is consolidating at spot rates within a bullish breakout pattern.

As long as $0.95 holds, aggressive traders can double down in smaller time frames, targeting $1.40.

However, losses below $0.95 in confirmation of the November 16 bear bar, nullifying bullish efforts, may force OGN prices back to $0.75.

The Graph (GRT)

The indexing protocol for Ethereum and IPFS networks power dApps across the web3 ecosystem using the GRT token.

Past Performance of GRT

The Graph token is bearish, dumping at spot levels. Reading from the GRT technical analysis from the daily chart, it is clear that sellers have the upper hand.

Notably, the GRTUSDT price is trading in a bear breakout pattern below the middle BB—a critical support line.

Day-Ahead and what to Expect

In the days ahead, every low may be an opportunity to liquidate the GRT coin.

This outlook is valid because of the high volume close below the middle BB with increasing volumes.

Nonetheless, a close above $1.10 may rejuvenate buyers, injecting upswing momentum to prop weak GRT crypto bulls.

The Graph Technical Analysis

The GRTUSDT price is tumbling after extended gains in the better part of Q3 2021.

For now, sellers are in control, forcing back the token from November 2021 highs.

As it is, GRT token sellers may unload on retracement since the bearish momentum is strong.

The GRTUSDT bear bars are currently along the lower BB, while the 20-day moving average is negatively slanting. At this pace, GRT may drop to $0.60 in continuation of early this week’s losses.