The OKB price analysis is strongly bullish for today as the coin has rallied high enough to challenge its own record high. OKB’s price has jumped to $53.9 as bulls continue to rally high for the 3rd consecutive day, and the bullish momentum seems quite strong. The cryptocurrency retraced after peaking at $58 on February 17, 2023, but bulls started to show momentum again on April 13, 2023, and the price has neared its previous record high in an aggressive manner.
OKB/USD 1-day price chart: Bulls in search of new grounds
The 1-day price chart for OKB price analysis shows the bulls have been controlling the market mostly for the past week as the price trend line is upward. The OKB/USD is currently trading at $53.9, nearing a record high. The coin has gained more than 16 percent of its value during the last 24 hours, and the coin has also shown a 31 percent increase in value over the past seven days. The moving average indicator in the one-day price chart is trading at $44.4. The trading volume has also increased tremendously by 277 percent today, which is a very high figure.
The volatility has been high, with the Bollinger bands expanding at a fast pace. The upper band is at $49.4 below the price level, representing support for OKB, and the lower band is at $36.5, representing the strongest support for the OKB/USD price. The Relative Strength Index (RSI) score has entered the overbought region at index 76, but the indicator hasn’t given a sell call yet as its curve hasn’t turned down.
OKB price analysis: Recent developments and further technical indications
The four-hour OKB price analysis is showing signs of an upswing as the price has improved remarkably during the day. The bullish momentum has been intensifying over the past few hours again, and the price has been progressing upward. A 12 hour long correction was also observed today, but bulls still seem aggressive. Currently, the price is at the $53.9 mark, and it can close even higher today.
The volatility is also high on the 4-hour price chart, as its upper value has reached the $56.6 limit and its lower value is at the $38 position; the indicator shows high volatility for OKB. The Bollinger bands maintain the average value of $47.3. The RSI score is increasing again as the price is going up again due to the recent buying activity in the market. The RSI indicator shows a reading of 77 on the 4-hour chart as it trades in the overbought region, and the curve is upward.
OKB price analysis conclusion
The OKB price analysis shows bulls are showing remarkable performance and the coin has rallied high today towards $53.9, as it may hit a new record high today. We expect OKB/USD to close the day with a new ATH or near the previous all-time high.
Source: https://www.cryptopolitan.com/okb-price-analysis-2023-04-15/