Ocean Protocol Announces Oasis Integration — OCEAN & ROSE Prices Hit Monthly Highs
What's Next for OCEAN and ROSE? | Credit: Hameem Sarwar
Key Takeaways
- Ocean Protocol announced an integration with Oasis on Sept. 24.
- OCEAN and ROSE both reached monthly highs on Sept. 25.
- Will OCEAN or ROSE perform better for the rest of the year?
OCEAN and ROSE have been among the top 100 biggest cryptocurrencies based on their market capitalization at various times in their history. However, they have fallen by the wayside in the current cycle, with ROSE ranked 113 and OCEAN currently sitting at 252.
Nevertheless, some positive news regarding an Ocean Protocol & Oasis Network integration hit on Sept. 24, causing their prices to reach new monthly highs. Let’s analyze the OCEAN and ROSE prices and determine which will perform better for the rest of the year.
Ocean and Oasis Integration
Ocean Porotocl announced its integration with Oasis Saphire on Sept. 24. This will improve network security by making it less reliant on one individual provider. More than 24,000 Ocean nodes are already set up with the Oasis software development kit.
This change is due to the perceived inefficiency of the existing node incentive program, which launched last month. Despite high gas fees, the majority of nodes earned very small rewards.
The new program will completely change the incentive program. Now, rewards are distributed in ROSE, with 250,000 allocated per epoch, worth $18,500 at the current price. This is over twice the previous rewards.
Additionally, only nodes with over 90% uptime will be eligible for rewards. So, while the pool of eligible nodes will shrink, those who qualify will receive higher rewards.
Because of the transition, rewards will initially pause but will resume once the integration is done.
OCEAN Price Clears Resistance
The daily time frame OCEAN price analysis shows a breakout from a descending resistance trend line on Aug. 23.
The trend line had existed since March’s yearly high, so the breakout above is a sign that the correction is over.
On top of this, OCEAN cleared the $0.65 horizontal resistance area after two attempts (black icons), confirming the trend reversal.
Read More: Ocean Protocol Price Prediction 2024: OCEAN Price Analysis
The weekly RSI and MACD indicators move upward, legitimizing the positive price action.
If the OCEAN price continues to increase, the next resistance will be at $1.05, 45% above the current price.
ROSE Struggles With Resistance
Similarly to OCEAN, the ROSE price has increased since the start of the month. However, unlike OCEAN, the price has yet to break out from its main descending resistance trend line and horizontal resistance area at $0.077.
Despite the perceived lack of strength, bullish divergences in the RSI and MACD preceded this entire upward movement.
Since the divergences are present in the weekly time frame, they are likely to catalyze a long-term increase.
Read More: Oasis Network Price Prediction 2024: ROSE Price Analysis
Therefore, a breakout from the confluence of resistances is likely. If this happens, the price of ROSE can increase 75% to the next resistance at $0.13.
Positive Outlook
Ocean Protocol and Oasis Network announced a new integration on Sept. 24. While the prices of their native tokens both reached new monthly highs, only OCEAN has broken out from its main resistance area.
However, if ROSE breaks out, its potential for gains is higher.
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