OKB Price Analysis for February 17


The market is mainly trading sideways after a recent correction.

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The rate of OKB keeps rising by around 5% over the last 24 hours.

OKB/USD chart by TradingView

On the hourly chart, the price of OKB has broken the local resistance at $49.80, which means that bulls remain more powerful than bears. From another point of view, the altcoin has passed most of its daily ATR, and sideways trading in the area of $51-$51.50 is the more likely scenario.

OKB/USD chart by TradingView

On the daily time frame, traders should pay attention to the mark of $52.80. If the bar closes near it, there are chances to see a breakout, followed by a blast to the $55 zone. Thus, the volume is growing, which means that bulls are ready to keep the midterm bull run going.

OKB/USD chart by TradingView

A similar situation can be seen on the weekly time frame, as the price has broken all possible levels and is setting new peaks now. Currently, the zone of $50 plays an important role for bulls in terms of further growth.

If buyers can hold the rate above that mark, the upward move may continue to $60.

OKB is trading at $51.479 at press time.

#OKB #Price #Analysis #February

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