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- 1 The EMAs are providing strong support for the OKB price.
- 2 If the buyers maintain the pressure, the OKB price could surge from the current level.
OKB is the utility token of the OKX ecosystem, one of the leading crypto trading platforms. It gives its holders various benefits within the ecosystem, such as discounts, exclusive access, and more.
OKB has multiple functions within the OKX ecosystem. By holding OKB, users can get trading fee discounts of up to 40%, significantly lowering the cost of transactions on the platform.
Moreover, OKB holders can earn passive income with OKX Earn and participate in token sales of high-quality crypto projects through the platform’s Jumpstart program.
OKB was created by Mingxing Xu, also known as Star Xu, the founder of OKX. The OKB token is part of a Buy-Back and burn program to preserve its value. This program started on May 4, 2019, with OKX buying back OKB tokens every 3 months based on the seasonal market and operating performance.
As a result of this, the total supply of OKB, originally at 300 million, has been decreased, contributing to the maintenance of the token’s value.
The coin is an ERC-20 token that uses a PoS consensus. OKB was initially on the Ethereum blockchain, but later, the company switched to its own blockchain — the OKExChain.OKEx is a very transparent platform. Developers claim that security is their top priority as OKEx provides a reliable and stable trading environment.
They use load balancing on servers, distributed clusters, and other technologies for protection.Moreover, OKEx has developed hot and cold wallets — cold wallets being one of the most secure methods for storing cryptocurrencies.
Hot wallets, however, need maximum attention to security and capabilities. Therefore, OKEx added a semi-autonomous multi-signature feature that allows fast, convenient, and secure transactions.
OKB Price Evaluation on Chart
The OKB crypto is experiencing a slight dip of 3.08% in the last 24 hours, trading at $57.10. However, if the demand for the OKB remains high, the OKB price could bounce back from the current level. The next goal for the OKB price is to reach $60.
The OKB crypto is geared for a remarkabale rally ahead, as it unleashes the potential to topple the resistance levels and zoom to new altitudes from the current base zone.
However, if the OKB crypto price fails to stay above the $55 level, it could decline further.
The OKB price is higher than the 20-day and 50-day exponential moving averages. This shows that the EMAs are providing strong support for the OKB price, as they are following the price and stopping it from falling more. Therefore, the OKB price trend is positive and rising.
Summary
The OKB crypto is preparing for a remarkable rise ahead. The momentum is clearly building up to break through the barriers and soar to new heights from the current support zone.
Furthermore, if the demand for the OKB remains high, the OKB price could bounce back from the current level. The next goal for the OKB price is to reach $60.
Technical Levels
Support Levels: $55
Resistance Levels: $60
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.
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.
