- OKB coin price is between 50 and 200 EMAs.
- The bears are currently a little stronger than the bulls. Take a look at whether they will be able to fight back
- The RSI and MACD show weakness in bullish investors as some rejections were seen in recent times.
The OKB coin was launched in March of 2018, and while it did not receive much attention initially from crypto enthusiasts, its price started to rise in the final months of 2022. At the end of November 2022, the bulls received support from their 50-day exponential moving average (EMA), which started a bullish trend in the market. This uptrend caused the price of the OKB coin to increase from $17.6 to a high of $39.1 in January of 2023, reflecting a significant increase of 129% in value over just 2 months.
The bulls gained more and more strength as they broke through four major resistances back-to-back during February, resulting in a new bullish rally that saw the price of the OKB coin surge up to a high of $58.8 in the same month. This bullish rally reflected investors’ growing confidence in the OKB coin.
OKB Coin Price Technical Analysis and Prediction
However, since then, there has been a correction in the OKB coin price, and it is currently in a consolidation zone where bulls and bears are engaged in a tussle. While the price of the coin has not yet reached the highs it saw in February, it is still holding steady after taking support from its EMAs.
At the time of writing, the OKB coin is trading at the level of $41.6 and it is taking continuous support from its 200 EMA which is currently at the level of $41.9 while facing continuous rejection from its 50 EMA which is at $43.4. This has created an interesting pattern as both the EMAs are closing in down which will result in the crossover of either side.
The immediate support level for the OKB coin is at $39.4 while the immediate resistance is at $49.1. Both these levels are strong, as a result of being the cap and floor for the consolidation zone that started after February. Meanwhile, the 2nd support and resistance are at the level of $34 and $56, respectively.
RSI and MACD indicator
The MACD made a bearish crossover with its EMA line back in mid-August, when the bulls bounced off the immediate resistance. Currently, the interaction is showing a possible chance of a bearish bounce-off again. The MACD indicator is at the level of -0.56 while its EMA is at -51 .
The RSI line is at 38 while its SMA (simple moving average) is at 43, and both are in neutral territory.
Conclusion
The OKB price prediction will solely depend upon the result of price action with the EMAs. If the bulls can come over the 50 EMA, a bullish rally can occur and the coin can reach its immediate resistance level. If the opposite happens, the 2nd support level would be the price target.
Technical Levels
Support:$39.4, $34.9
Resistance: $49.1, $56.07
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.