The OKB coin belongs to the OKEx ecosystem. It is known to be one of the most crucial players in the crypto trading world. OKEx is a worldwide accessible cryptocurrency exchange that provides services like trading a wide range of cryptocurrencies worldwide. It provides services like spot trading, futures trading, and more. It was created by Mingxing Xu. He is also known to be the CEO of OkCoin.com.
OKB’s maximum volume is traded on OKEx. It is traded with the USDT pair, resulting in the highest demand and supply of OKBUSD. The circulating supply of the OKB crypto is 60.0 Million OKB, following a total supply of 300 Million OKB. The fully diluted valuation of the cryptocurrency is $12.86 Billion, which brings it under the top 30 cryptocurrencies.
As per Coingecko, the current market sentiment of the OKB crypto is bullish. More than 71% of traders are bullish on the OKB coin. The market cap for the crypto has advanced by more than 0.50% in the last 24 hours, resulting in $2.587 Billion. It follows an advance in volume of 24.14%. The current volume/market cap ratio of the crypto is 0.07.
The OKB Token Price Technical Analysis
The OKBBTC pair is currently trading in a range making equal high and equal low swings. The price of the coin seems to be consolidating and being in the accumulation phase. If the price breaks above the range it can result in a very good up move.
The EMA for the share is trading in a golden cross. It indicates the presence of buyers in the market. The RSI of the coin is also trading in a bullish zone, which indicates a probable breakout in the coin.
Conclusion
The coin price is currently consolidating in a range accumulating the price. The RSI and the EMA are also indicating a bullish divergence as the price is trading above the EMAs. The RSI is also following the above 50 zones.
Therefore, the share price can advance to higher levels on the break of the zone to the upperside. Thuss, we might get to see higher levels in the coin.
Technical Levels
- Support levels for the OKB Coin are: 0.0013650 BTC and 0.00200 BTC
- Resistance levels for the OKB Coin are: $0.001911 BTC and $0.00236 BTC
Disclaimer
The views and opinions stated by the author or any other person named in this article, are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast and 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.
Source: https://www.thecoinrepublic.com/2023/09/26/okb-coin-preaping-to-hit-all-time-high-can-it-be-a-good-buy/