OKB Technical Analysis: Will This Early Reversal Shoot OKB Above $15?

The OKB prices fail to exceed $15 due to a double top reversal. But bulls reclaim dominance with hopes to cross $15. Will the prices cross the threshold? Key Technical Points: The OKB prices jumped by 1.20% in the last 24 hours. The buyers sabotage the bearish attempt to test the 100-day SMA. The 24-hour trading volume of OKB is $12.54 million, indicating a drop of 16%. Past Performance of OKB The OKB prices reverse from the crucial support level of $10 after the descending triangle fallout predicted in our previous article. The bullish reversal beats the supply pressure at the $13.5 horizontal zone to reach the $15 mark. In short, the prices have exploded by 50% in the last month, but the supply inflow at the $15 threshold leads to long-wick candles and a double top reversal. Source – Tradingview OKB Technical Analysis The 4% drop in OKB prices with a spike in trading volume yesterday almost sealed the fate of a downtrend to challenge the 100-day SMA. However, the lower price rejection guiding buyers to reclaim dominance sabotages the double bottom breakout. As the market value upholds the 100-day average price, the bullish influence grows on the 50-day SMA. Hence, the possibility of a bullish crossover between the 50 and 100-day SMA increases. The lateral trend in the daily-RSI slope slightly below the overbought boundary continues to find support from the 14-day SMA. Hence, the indicator defends the bullish viewpoint on the...