OKB Price Prediction 2021 – Will OKB Hit $40.6 Soon?

OKB Price Prediction 2021 - Will OKB Hit $40.6 Soon?
  • Bullish OKB price prediction ranges from $24.8 to $32.87.
  • The OKB price might also reach $40.6.
  • OKB bearish market price prediction for 2021 is $9.02.

In OKB price prediction 2021, we use statistics, price patterns, ADX, and much other information about OKB to analyze the future movement of the cryptocurrency

OKB is the OKEx utility token that allows users to gain access to the cryptocurrency exchange’s unique features. The coin is used to calculate and pay trading fees, to grant users voting and governance access on the platform, and to reward users for holding OKB. Since its inception in 2017, OKEx has grown to become an international trade floor.

Current Market Status of OKB (OKB)

According to Coingecko, the price of OKB is $18.4 with a 24-hour trading volume of $161,768,135 at the time of writing. However, OKB dropped to 3.9% in the last 24 hours.

Moreover, OKB has a circulating supply of 265,115,438 OKB coins. Currently, OKB trades in cryptocurrency exchanges such as OKEx, Hotcoin Global, FTX, HitBTC, and BiONE. 

OKB (OKB) Price Prediction 2021

OKB (OKB) holds the 35th position on CoinGecko right now. OKB price prediction 2021 explained below with a daily time frame. 

OKB/USDT Ascending Channel Trend Pattern (Source: Tradingview)

The price action contained between two parallel upward sloping lines defined as an ascending channel. Higher highs and lower lows distinguish this price pattern. An ascending channel formed by connecting the swing lows with a lower trend line and the swing highs with an upper channel line.

A breakout above an ascending channel may indicate that the upward trend will continue, whereas a breakdown below an ascending channel may indicate that the trend will change.

Currently, OKB is waving at $18.41. After this, OKB may continue to fall or rise according to the breakout. With this pattern, OKB will reach the resistance level at $32.87 soon. If the trend reverses, then the price of OKB may fall to $9.02.

OKB (OKB) Support and Resistance Level

The below chart shows the support and resistance level of OKB (OKB). 

OKB/USDT Support and Resistance Level (Source: Tradingview)

From the above chart, it is observed that the following are the resistance and support levels of OKB.

  • Resistance Level 1 – $24.8
  • Resistance Level 2 – $32.87
  • Resistance Level 3 – $40.6
  • Support Level 1 – $18.65
  • Support Level 2 – $9.02

The chart depicts the bullish performance of OKB over the previous month. However, this trend will break out and reach resistance level at $40.6. On the contrary, if the trend reversed then OKB might fall to $9.02 presenting a bearish signal.

OKB (OKB) Average Directional Index (ADX)

Let us now look at OKB’s Average Directional Index (ADX). In particular, the ADX assists traders in determining the strength of a trend rather than its direction. It can also be used to determine whether the market is changing or if a new trend is beginning. It is, however, linked to the Directional Movement Index (DMI).

Moreover, the oscillator has a range of 0 to 100. In addition, a high value represents a strong trend, while a low value represents a weak trend. Furthermore, it is frequently combined with directional indicators.

OKB/USDT ADX (Source:TradingView)

The above chart represents the ADX of OKB with the range at 19.56, so it indicates a weak trend.

Conclusion

The OKB is one of the cryptos which is great for long-term investment. In addition, short-term OKB price prediction will be bearish, until the breakout. But, it has a good chance of reaching $44.01 this year. However, this will only happen if many previous psychological barriers are broken.

Furthermore, with the advancements and upgrades on the OKB ecosystem, the performance of OKB would rise reaching $32.87 very soon. But, it might also reach $40.6 if the investors believe that OKB is a good investment in 2021.

Disclaimer: The opinion expressed in this chart solely author’s. It is not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

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