OKB Technical Analysis: Bullish Reversal Ready Surpass $20

Key technical points:

Past Performance of OKB

OKB token price shows a sharp bullish recovery over the past 72 hours, trapping sellers after the support trendline fallout. The bullish reversal forms the solid bullish engulfing candlesticks reflecting a V-shaped reversal accounting for a jump to the 50-day EMA. 

Source-Tradingview

OKB Technical Analysis 

The OKB coin price action is projecting a high likelihood of completing the triple white soldier's pattern to cross above the 200-day EMA. Moreover, the recent growth in teaching volume represents a solid bullish commitment.

The crucial daily EMAs showcase a bearish alignment with a sideways trend, gradually gaining bearish momentum while providing dynamic resistance. However, the bullish reversal challenges the 50-day EMA teasing a bullish breakout that will potentially surpass the 200-day EMA. 

The RSI slope indicates an upwards trend by crossing into the nearly overbought area after a sharp reversal to surpass the 14-day SMA. Hence, the indicator displays an increasing bullish momentum ready to outperform the 200-day EMA.

The MACD and signal lines fail to sustain a bearish alignment as the bullish crossover starts a new positive trend in MACD histograms.

In short, the OKB technical analysis displays a high likelihood of an uptrend to create a new swing high above the $20 mark.

Upcoming Trend 

OKB coin price faces an increase in buying orders as the sellers liquidate, resulting in a short squeeze and increasing the buying pressure. Hence, traders can expect the bull run to continue above the psychological barrier of $20.

Resistance Levels: $20 and $24

Support Levels: $188 and $16