Is OKB Facing More Losses?

OKB crypto price slipped to close at $47 on Binance, early on Tuesday post an intraday loss of nearly 10%. Earlier, the crypto noted a sharp fall yesterday in the afternoon session after the breakdown below an important psychological level of $50. 

The price dropped to a low of $25.3 in a couple of minutes after the breakdown below $50, registering an intraday loss of nearly 100%. Later, the OKB crypto recovered most of the intraday losses and managed to close near $47 with an intraday loss of nearly 10%.

At the time of writing, the OKB cryptocurrency was at $46.84 with an intraday loss of 0.55%. Also, it has a market capitalization of nearly $2.816 Billion after the intarday loss. The volume to market cap ratio is 0.77% suggesting very low volatility in the crypto.

OKB Price Trend Analysis

Moreover, the OKB crypto had been forming higher highs and higher lows to conquer upper supply levels. The price formed a bullish trajectory and kept on edging higher, getting support from the 20-Day and 50-Day EMAs.

The OKB price peaked at $65 in mid-November and has retraced the 20-Day and 50-Day EMAs multiple times to break lower. Recently, the crypto fell sharply after breaking below the 200-Day EMA.

Currently, the price rests near the support of $45 and showcases slight bearish in Intraday. The buyers are attempting to hold the price near the recent support. The breakdown below it may trigger a sharp fall toward the lower demand zone of $40 and $35.

The technical indicators are signifying a negative outlook as the price has fallen below the key EMAs. At press time, RSI was at 26.26 points while the 14-Day SMA line was at 42.43 points. RSI has fallen in an oversold zone suggesting a strong bearish outlook. Both the RSI and SMA line hover below the mean line indicating weakness. 

OKB Price Prediction January 2024

The bearish outlook of the analysts shows that the price has more room to decline and drop to a low of 41.4 by the month-end. The positive view of the analysts is that the price will reclaim the 200-Day EMA on the daily chart.

OKB Price Prediction 2024

The price forecast for the year 2024 highlights that the OKB token price could reach a high of $65.27, suggesting a potential gain of over 40%. Moreover, the bearish outlook of the analysts hopes the price could reach $52.6 by the year-end.

OKB Price Prediction 2025

By the year 2025, the OKB price may attain $84.42 as the highest price. On the flip side, the minimum price up to which the crypto price may rise by the year 2025 is $63.11.

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss. 

Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.