<em><strong>As OKB buyers failed to surpass $13, the price action forms a descending triangle with a base at $11, which may result in a fall to $9.75.</strong></em>

Key technical points:
<ul>
 	<li>The market prices slightly recover 0.26% over the past 24 hours.</li>
 	<li>The bearish retracement continues under the resistance trendline.</li>
 	<li>The 24-hour trading volume of OKB is $136.57 Million, indicating a fall of 38%.</li>
</ul>
<h2>Past Performance of OKB</h2>
OKB prices showcased a sharp reversal from the $11 resulting in a 16% price jump to $13 but failed to surpass it, resulting in the retracement phase. The downtrend generates a resistance trendline, forming a descending triangle with a base at the $11 mark. The falling trend increases the likelihood of a bearish fallout.

<img src="https://s3.tradingview.com/snapshots/g/G7FKtWBt.png" alt="TradingView Chart" />

<strong>Source-</strong> <a href="https://www.tradingview.com/x/G7FKtWBt/" target="_blank" rel="noopener">Tradingview</a>
<h2>OKB Technical Analysis</h2>
<a href="https://www.cryptoknowmics.com/news/okb-technical-analysis-bullish-reversal-ready-surpass-20/">OKB</a> buyers showcase a falling trend in the intraday trading volume which increases the likelihood of a bearish turnover in the price trend. Nonetheless, traders should wait for a closing below the base to avoid getting trapped in a reversal. The crucial daily EMAs – 50, 100, and 200-days maintain a bearish alignment, signaling the long-term correction phase. And, the bullish breakout of the triangle will have to overpower the selling pressure at the EMAs for uptrend continuation.

The MACD and signal lines showcase a bullish rally continuing the approach to reach the zero line. However, the lack of intensity in the bullish histograms warns of the possibility of a reversal crossover. Furthermore, the RSI indicator shows a sideways trend merged with the 14-day SMA below the halfway line. Hence, the technical indicator shows a growing weakness in the bullish momentum and warns of a downtrend continuation. In a nutshell, the OKB technical analysis displays a bearish retracement ready to crack under $11.
<h2>Upcoming Trend</h2>
If sellers manage to crack under the $11 support level, a downfall under the psychological mark of $10 seems inevitable to test the $9.7 level. However, a bullish breakout of the resistance trendline will result in a price jump to $13.

<strong>Resistance Levels:</strong> $12 and $13

<strong>Support Levels:</strong> $11 and $9.75

OKB Technical Analysis: Descending Triangle Warns Downfall Under $10

OKB technical analysis shows prices showcasing a sharp reversal from the $11 resulting in a 16% price jump to $13 but failing to surpass it.

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

OKB Technical Analysis: Descending Triangle Warns Downfall Under $10

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