Home
News
- 1 The price of OKB is moving ahead of the 20,50,100,200 days daily moving average
- 2 The current price of the coin is surfing around $53.52 with a total decline of 0.77% during the intraday trading session
- 3 The pair of OKB/BTC is around 0.001763 BTC with a drop of 0.60% in the last 24 hours
Despite the bulls’ attempt to maintain an upward trend, the bears have been successful in implementing strategies that have resulted in a steady downward momentum, pushing the price toward the support level. In order for the coin to regain its potential, the bulls must find a way to enter the trade and counter the bearish trend.
OKB price analysis shows that the current price of the coin is hovering around $53.52, with a total decline of 0.77% during the intraday trading session. The bears have managed to keep the downward momentum steady, preventing the bulls from making a significant impact. Despite the bulls’ attempts to enter the trade, the bears have been successful in breaking the bull back. As a result, the price is moving toward its all-time low, and the bulls must come up with a better strategy to bring hope to investors. If the bearish trend continues, the price may drop further to the primary support of $40.17 or even the secondary support of $38.35. On the other hand, if the bulls can beat the bears, the price may reach the primary resistance of $56.03 or even the secondary resistance of $58.45.
The volume of the coin has dropped by around 46.74% during the intraday trading session, indicating an increase in selling pressure. The bulls are trying to enter the trade, but their efforts doesn’t seem enough to overcome the bears. Currently, OKB have a volume-to-market cap ratio of 0.0186.
OKB Technical Analysis
The technical indicators highlight the following: The relative strength index seems to return from the overbought zone approaching neutrality. Current RSI of OKB is 69.51, which is above the average RSI of 50.52. The bulls are trying to enter the trade, but their efforts have not been enough to overcome the bears. The price of OKB is moving ahead of the 20,50,100,200 days daily moving average. The MACD and MACD signal have collapsed giving a positive crossover.
Conclusion
OKB’s price is currently facing a steady downward trend due to the bears’ successful implementation of strategies. The bulls’ attempts to maintain an upward trend have not been enough to overcome the bears. The coin’s price may drop further to its primary or secondary support levels if the bearish trend continues. However, if the bulls can beat the bears, the price may reach its primary or secondary resistance levels. The MACD and MACD signal have collapsed giving a positive crossover.
Technical Levels
Support Levels: $40.17 and $38.35
Resistance Levels: $56.03 and $58.45
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
