OKB Technical Analysis: With Bullish Signals, Month-Long Resistance Level at $11.26

OKB is a blockchain-based cryptocurrency that operates on the Ethereum platform. It is a global utility token, that is issued by the OK Blockchain Foundation. The community provides various services where the OKB can be used. The services include Security, Financial, and Utility services. Let us look at the technical analysis of OKB.

Past Performance

OKB started trading at $10.30 on July 06, 2021. On July 12, 2021, OKB ended the day at $10.90. Amid volatility in the market, OKB gained 5% in the previous week. In the last 24 hours, OKB traded between $9.80-$11.11.

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Day Ahead And Tomorrow

At the time of press, OKB is trading at $10.85. The price is up by 3% (approximately) from the opening price of $10.50. Thus, making a bullish candlestick. OKB is currently near a month-long resistance level at $11.26. If the buying pressure remains strong in the market, we can expect the breakout from this resistance level and make new monthly highs.

Now, the MACD and signal lines are in the negative zone, that is, below the zero range. Plus, forming a bullish crossover by the signal line over the MACD line. Thus, the overall market momentum is bullish, and we can expect a surge in the OKB price for the rest of the day.

The RSI indicator is below equilibrium, therefore indicating a price rise on a daily level. The RSI indicator is at 46%. It has rallied after taking support from the mark of 38%. Thus, indicating that the buying pressures are increasing in the market. While looking at the long-term trend, it is making a bullish divergence. Therefore, RSI can break out of its month-long resistance and make a new support level.

OKB Technical Analysis

Currently, the price is trading above the Fibonacci pivot point of $10.06. With the support of the buyers, the price can rally from this level and form new highs. Also, as some of the oscillators have shown bullish signals, we can expect the price to increase and test the Fibonacci pivot resistance level of $11.28 soon. If the price breaks this FIB resistance level, it will highlight the next resistance at $12.87.

If the sellers start dominating the market, we will have to closely watch the level of $10.22 as an immediate support level. If the price breaks this level, it can test the level of $09.80. Thus, traders can take a short position.