The OKB, the native token of the second-largest cryptocurrency exchange OKX, has experienced a remarkable surge in the last 24 hours. The trading volume has seen an impressive boost of 283.16%, with the weekly chart also displaying a notable surge.
This sudden rise in OKB’s value has caught the attention of many in the crypto community, sparking discussions and speculation on its potential causes and future trajectory.
According to the data from CoinMarketcap, the token currently trades at $53.10, representing an increase of 16.59% from its previous trading price. This bullish trend has further extended to the last seven days, where the token has grown by an impressive 28.16%.
Such a surge in value has resulted in a rise of 16.59% in the token’s market capitalization, which has added to the excitement among investors.
The value of the token has soared to a daily peak of $54, a level that hasn’t been witnessed since February of this year. If the market continues its bullish trend, the token’s value could potentially reach its crucial resistance level of $58. However, in the event of a downturn, the value could plummet to its key support level of $47.
OKB Price Prediction
The latest price prediction suggests that OKB is currently in a bullish market trend, as indicated by all technical indicators. However, the Fear & Greed Index is currently reading 20.83, indicating extreme fear among investors. Despite this, OKB has shown a positive growth rate of 12.62% over the last 30 days.
It is expected that by the end of April, OKB’s value will increase by 115.22%, reaching approximately $114.36. Despite the current price of OKB being below the 50-day simple moving average (SMA), it is still showing a Buy signal.
As per all technical indicators, it is predicted that the 200-day SMA will soon drop, causing the price to hit $30.71 by the end of December. Looking further ahead, the short-term 50-Day SMA for OKB is indicating a price of $45.07 by December 2023, 2024.
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