Analyzing the current market situation, OKB's price has been experiencing a bearish trend, recording a 21% downfall in the last three weeks. Despite the price plummeting, it has not given a close below its support level in the past seven months on the daily time frame. It was predicted that OKB would make a bullish move above 100 EMA before making a trend reversal. This prediction has proved right as the price recently marked a 40% surge before the downtrend reemerged. Furthermore, the Stochastic RSI and Relative Strength Index (RSI) both point towards the possibility of a bullish reversal. Even though the buyers have an edge over the price action, it is still speculated that the value will continue to increase in the upcoming weeks. Therefore, it is advised for investors to look for an engulfing candle from its recent support level, where the oscillator's are trading near the oversold level.
Joseph Ruiz
- 2023-05-05
OKB Price Analysis: Bullish Reversal on the Horizon?
OKB's price has been experiencing a bearish trend, recording a 21% downfall in the last three weeks. Despite the price plummeting, it has not given a close below its support level in the past seven months on the daily time frame. It is speculated that the value will continue to increase in the upcoming weeks.
