OKB Price Analysis: OKB Plunge -0.87%, How Low Will It Drop?


  • OKB/USD is confronted with resistance level of R1 at 16.60 dollars.
  • The $13.66 support level for OKB/USD is really strong.
  • OKB gain bullish momentum over the past week gaining 2.11%.
  • The EMA(50) is currently at $16.41.

03 October 2022 : In this article we will walk you through OKB price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for OKB, Is OKB a good investment? OKB support & resistance levels etc. But before diving deep into the OKB technical analysis, let us talk about the current market conditions.

Market Analysis

Over the last twenty-four hours, there was a down fall of -1.34 percent, bringing the entire cryptocurrency market to $942,583,128,025. The total trading volume stands at $56,002,898,106. Bitcoin shares 39.88 percent of the entrie market while Ethereum has a dominance of 16.12%.
which resulted in Bitcoin's price rising to $19,611.99 level after an upward movement of 2.16%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price increase of 1.95 percent reaching to $1,320.89 during the previous 24 hours.
While publishing this blog, BNB traded at $287.88, following a price change of 1.31% within the same time frame. XRP the native coin of XRP is down by -0.37 and currently trading at $0.46. Additionally, Cardano reached $0.43 after seeing a uplift of 0.33% in value.
These events indicate that the market is heading in a downward direction for short term. At this moment, a general negative dip can being seen throughout the crypto market.

OKB Support and Resistance

Support and resistance are important technical indicators used to identify key price levels where the trend can change direction. Support is a level at which buyers become more active and stop the coin's price from falling any further. Similartly, Resistance is a level at which sellers become move active and stop the coin's price from moving higher.
Following are the support and resistance levels of OKB (OKB)

OKB Resistance Levels OKB Support Levels
Resistance Level 1 $16.60 Support Level 1 $14.68
Resistance Level 2 $17.50 Support Level 2 $13.66
Resistance Level 3 $18.52 Support Level 3 $12.76

OKB Performance

According to Price Analysis Market Index, OKB (OKB) is trading at $15.61 with a trading volume of $18,657,396.00. However,OKB has a price decline of -0.87% in the last 24 hours.OKB price changes 2.11% over the week with a total market capitalization of $936,512,241.00 USD.

OKB Price Analysis

OKB price analysis for 03 October 2022 within a daily time frame explained below. we use Relative Strength Index(RSI), Moving Average Convergence and Divergence (MACD), Support levels, Resistance levels, different time period moving averages including Simple Moving Average (SMA) and Exponential Moving Average (EMA) to analyze the future movement of the OKB.

Moving Averages Price Indicator
Simple Moving Average (10) 15.50 Buy
Exponential Moving Average (10) 15.58 Buy
Simple Moving Average (20) 15.35 Buy
Exponential Moving Average (20) 15.41 Buy
Simple Moving Average (50) 16.43 Sell
Exponential Moving Average (50) 16.41 Sell

While OKB’s Williams %R indicator is at -21.739 for the 14-day time period indicating a neutral condition.A trade signal is possible at this range. RSI implying near overbought phase while trading at 63 and is trying to break out of the neutrality zone. The immediate resistance level for OKB prices is at the psychological mark of $16.60. If everything goes well the coin might try to break above $17.50 mark. Conversely, the broken trend line might bring the price back to $14.68 support level. The MACD line is standing above of the signal line after a positive crossover. OKB investors need to wait for any directional change over the daily chart.

Conclusions

According to the OKB (OKB) price analysis, the bears have failed to take the market downwards, and as a result, we are likely to see the continuation of the bullish trend in the coming days.