04 February 2023 : 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.
Over the last twenty-four hours, there was a down fall of -1.84 percent, bringing the entire cryptocurrency market to $1,085,118,639,870. The total trading volume stands at $49,918,716,252. Bitcoin shares 41.59 percent of the entrie market while Ethereum has a dominance of 16.33%.
which resulted in Bitcoin's price dropping down to $23,402.06 level after a decline of -0.55%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price increase of 0.84 percent reaching to $1,664.92 during the previous 24 hours.
While publishing this blog, BNB traded at $329.63, following a price change of -1.2%within the same time frame. XRP the native coin of XRP is up by 0.02 and currently trading at $0.41. Additionally, Cocos-BCX reached $0.60 after seeing a decline of -0.77% 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.
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||$17.43||Support Level 1||$15.79|
|Resistance Level 2||$18.16||Support Level 2||$14.88|
|Resistance Level 3||$19.07||Support Level 3||$14.15|
The price of OKB (OKB) is at $41.25, up 4.39% in the past 24-hours and has a price change of 7.29% over the week. One day trading volume for BTC is 27,945,666.00 USD while total marketcap reached $2,474,970,507.00 USD. There are almost 60,000,000 are in circulation out of 300000000.
OKB price analysis for 04 February 2023 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.
|Simple Moving Average (10)||16.37||Buy|
|Exponential Moving Average (10)||16.46||Buy|
|Simple Moving Average (20)||16.04||Buy|
|Exponential Moving Average (20)||16.12||Buy|
|Simple Moving Average (50)||15.64||Buy|
|Exponential Moving Average (50)||15.69||Buy|
The OKB/USD Moving Average Convergence and Divergence (MACD) indicator is indicating a short-term buy signal as the MACD line is moving above Signal Line Which means bulls are dominating in the market. While OKB’s Williams %R indicator is at -17.536 for the 14-day time period indicating a overbought condition and short term trend price correction is possible. The relative Strength Index (RSI) indicates that the OKB coin is trading in overbought phase, as RSI is at 72.
The OKB market is shown signs of being optimistic, and buyers have the potential to drive prices of the cryptocurrency higher in the next few days. The price of OKB is expected to break above its resistance level of $17.43. On the other hand, if OKB broke out from the bullish pattern and led its way toward support level of $15.79.