Will OKB Price Break Consolidation?

OKB price prediction suggests bears and bulls are yet to gain a proper grasp on the trend. Investors might prefer to wait for a confluence of multiple technical indicators in order to decide the direction of the trend. There is a slight increase in the green volume candles which suggests the OKB price is attracting buyers at the demand zone.

Investor sentiments regarding the OKB price are indecisive at present and may remain negative unless the buyers start stepping into the price action with substantial momentum. However, according to the technical indicators and price action, the odds are lining in the bulls’ favor.

OKB crypto price needs to attract buyers to surge towards the upper trendline of the consolidation phase over the daily time frame chart. Meanwhile, the OKB price is trying to gather support and surge towards 20, 50, and 100-day daily moving averages. OKB have been consolidating inside the horizontal price range of $42.46 and $44.150.

OKB Crypto Price Has Been Consolidating Inside the Price Range

OKB crypto price must initiate its recovery rally to reach the upper threshold of the consolidation phase. However, the OKB needs to accumulate buyers in order to surge towards its recovery phase. Meanwhile, the OKB crypto price has slipped below the 20, 50, 100-day daily moving averages.

Moreover, OKB cryptos must register their breakout from the consolidation phase over the daily time frame chart. Technical indicators suggest the consolidation phase of the OKB crypto price. Relative strength index (RSI) showcases the sideways momentum of OKB. RSI is heading towards the oversold territory. 

MACD highlights the consolidation phase of the OKB crypto price. The MACD line is flat above the signal line waiting for any type of crossover. Investors in OKB crypto need to wait for any directional change over the daily time frame chart.

Summary

On the daily time frame chart, the OKB price has been consolidating between the horizontal price bands of $42.46 and $44.150. However, in order to accelerate towards its recovery phase, OKB c must amass purchasers. Technical indicators point to a period of price consolidation for OKB crypto. Investors in OKB crypto must watch the daily time frame chart for any directional changes.

Technical Levels

• Support Levels: $42.469 and $40.566.
• Resistance Levels: $44.150 and $46.656.

Disclaimer

The analysis provided in this article is for informational and educational purposes only. Do not rely on this information as financial, investment, or trading advice. Investing and trading in crypto involves risk. Please assess your situation and risk tolerance before making any investment decisions.

Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.

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