With the altcoins market exploding in the past few weeks, the OK price is sustaining the uptrend, fueling demand outgrowths. Amidst the recent surge, the last three weeks have been extremely positive for the OKB, with the uptrend breaking above the previous peak at $64.50.
As the uptrend continues in OKB, the buyers are ready to pay a premium for the altcoin. With this bull run in action, will the altcoin price reach $100 or is a serious pullback coming?
Another Take Off From The Dynamic Support
Accounting for a 600% jump since June 2022, the OKB price trend sustains a positive flow and takes constant support from the 50-week EMA. Currently, the altcoin shows a fresh bounce off from the dynamic line to cross above the $70 mark.
Source – Tradingview
Currently, the OKB price trades at $55.84 and successfully surpasses the psychological mark of $50 as the underlying demand grows. However, the intraday candle showcases higher price rejection as it peaks at $59.32.
As per the trend-based Fibonacci levels, the altcoin is stuck within two crucial levels of 61.80% and 78.60%. Hence, a breakout of either level will set the tone for the upcoming trend.
Technical indicators:
MACD: The MACD and signal line sustain a positive trend as they sustain above the zero line. Further, the rising trend in histograms reflects the rise in the underlying demand.
Also Read: Bitcoin Price Prediction: Will BTC Price Hit $77K Or Drop To $70K This Week?
Will OKB Price Reach $100?
With the OKB price sustaining dominance above the psychological mark of $50, buyers are preparing for the next surge. Hence, sideline traders could find entry opportunities at current levels as a retest level.
In a bullish scenario, per Fibonacci levels, the uptrend can result in the 78.60% Fibonacci level breakout to scale to the $92 mark. Thus, the chances of the $100 barrier breakout are increasing significantly.