thenewscrypto.com
- OKB is trading at $54 after a surge of over 13%.
- Daily trading volume has jumped by more than 92%.
The crypto market is sending mixed signals across the assets, with prices swinging between red and green zones. The overall market cap has reached $3.25 trillion after a spike of 0.69%, and the fear and greed index value is settled at 48, reflecting neutral sentiment. Among the altcoins, OKB has registered a solid gain of over 13.23% in the past 24 hours.
The asset opens the day at the bottom range of $47.53. As the day progressed, the price climbed to a high of $54.66, breaking the resistance between $48 and $53. As per CMC data, OKB currently trades at around the $54.04 range, with a market cap of $3.23 billion. Also, the daily trading volume has surged by over 92.31%, reaching $31.3 million.
Over the last thirty days, OKB has spiked by over 4.30%. The peak price was noted at the $54 level, and gradually the price slid to a low in the $47 range, to the current trading pace.
Is OKB Ready to Take the Next Leap?
Technical chart analysis of the asset reports that the Moving Average Convergence Divergence line and signal line are positioned below the zero line, indicating an overall bearish trend. However, the MACD line is moving upward toward the zero line for a possible shift in momentum. In addition, OKB’s Chaikin Money Flow (CMF) value is noted at 0.25, suggesting strong buying pressure in the market. Also, the capital is flowing into the asset.
Furthermore, the asset’s daily relative strength index (RSI) is sitting at 69.94, which signals that the asset is approaching overbought territory, where a potential pullback or price correction could occur. Besides, OKB’s Bull Bear Power (BBP) reading at 6.35 implies strong bullish momentum in the market, as it pushes the prices above.
OKB’s successful breakout above the resistance range of $54.31 could pave the way for a solid upside correction. Subsequently, the asset might climb and likely test the key resistance at the $54.40 level, and trigger the emergence of a golden cross to support the price action, eyeing more gains.
Conversely, assuming the asset falls below the $54.15 range, it might potentially push the price to its former lows. Further correction on the downside could likely initiate the formation of the death cross, and pull the OKB price back toward the $54 mark or even lower.