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- 1 OKB price prediction (CRYPTO: OKB) shows that the price may be dropping toward the closest support to take the opportunity to bounce back.
- 2 The OKB Coin price decreased by 3.55% over the past week.
- 3 At press time, OKB is trading at $42.838, and the 52-week price range is $34 – $58.
OKB is the native token of OKEx, a crypto exchange based in Malta having one of the highest liquidity and volume in the world. OKB holders can enjoy premium benefits such as lower fees, governance, and staking on the OKEx platform. OKB has a max supply of 300 million and a circulating supply of 60 million.
OKB (OKB) has a fully diluted valuation (FDV) of $12,866,116,167. This is a hypothetical representation of the maximum market cap, assuming all 300 Million OKB tokens are circulating today. However, the emission schedule of OKB tokens may vary, and it could take several years before the FDV is achieved. This data is based on Coingecko, a website that provides crypto data and information.
OKB crypto plummeted 0.29% in market value and 18.14% in trading volume in the last 24 hours, per Coinmarketcap. Its market value is $2,579,921,631 and its trading volume is $1,299,363. There are 60,000,000 OKB in circulation.
Moreover, the OKB Coin has not shown good performance this month, as it is down by 3.27% but increased by 9.29% in the past six months. Also, the year-to-date return of OKB price is positive with a 64.86% incline.
OKB Price Technical Analysis in 1-D Timeframe
The Okb Coin price (CRYPTO: OKB) followed the support and resistance trendlines very well. At the time of writing, the OKB price is trading at $42.907 and the coin price bounced back and rose sharply from $38 to $46.
Furthermore, in the long term view, it seems that the OKB coin may be forming a bullish pattern, which is a falling broadening wedge and may break out in the long term as the price has already bounced from the major support at $38.
However, the OKB price pulled back from the trendline and it looks like the price is going down in the short term towards the nearest support at $41.
Therefore, if the OKB price holds the CMP level, then the prices may go up by breaking out of the pattern and reaching the targets of $46.082 and $47.871.
Alternatively, if the OKB price is rejected from the CMP level and falls, then it may reach the nearest support levels of $41.388 and $38.314.
Okb crypto price (OKB) is below the 20, 50, and 100-day EMA’s (exponential moving average). The EMA is acting as resistance, pushing the price trend down. Therefore, the Okb price prediction suggests that the coin price could fall more over the one-day time frame.
The MACD line at 0.169 and the signal line at 0.161 are below the zero line and a bearish crossover is observed in the MACD oscillator. The current value of the RSI is 47.87 points, and the 14 SMA is at 48.23 points, the RSI line faced rejection and headed for the oversold zone. Hence, the OKB price prediction suggests the coin price is bearish.
Conclusion
The OKB Coin chart shows investors are bearish regarding the coin in the 1-D time frame. The price action suggests a bearish outlook at the time of publishing. Technical parameters of the Okb Coin price (CRYPTO: OKB) also support the bearish trend. The major indicators are highlighting negative signals and imply that the downtrend may continue. Hence, as per Okb Coin’s price prediction, the coin is bearish.
Technical Levels:
- Support levels: The nearest support levels are $41.388 and $38.314.
- Resistance levels: The nearest resistance levels are $46.082 and $47.871.
Disclaimer
In this article, the views and opinions stated by the author or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
