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Cryptoknowmics 2022-04-23 09:26:42

OKB Technical Analysis: Buyers Gradually Prepare Triangle Breakout

OKB coin price shows a symmetrical triangle formation with an increasing possibility of an upside breakout. Should you consider an early entry? Key technical points: OKB prices prepare a triangle breakout. The MACD and signal lines trade under the negative territory. The 24-hour trading volume of OKB is $62 Million, marking a 24% rise. Past Performance of OKB OKB coin price shows a drastic fall in late 2021, resulting in a decline of 50% from the $32 mark before starting a reversal to reach the $23 mark. However, the buyers failed to sustain the uptrend resulting in a symmetrical triangle in the daily chart. Source-Tradingview OKB Technical Analysis The OKB token price bottles up the symmetrical triangle pattern and shows a bullish reversal preparing for a breakout rally. Hence, traders can shortly find a breakout entry opportunity as the resistance trendline collapses. The bullish uprise within the triangle remains under all the crucial daily EMAs as they trend lower in a bearish alignment. Therefore, the breakout rally will face multiple resistance levels, increasing the chances of failure. RSI Indicator: The RSI slope maintains a sideways trend close to the halfway mark as the price trend remains under the triangle pattern. Hence, a surge in RSI value sustaining above the 50% line will signal a buying spot. MACD Indicator: The MACD and signal lines give a bearish crossover after crossing under the zero line and maintaining ...

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