OKB/TetherLong
OKBUSDT's Breakout Navigating the Potential for 90% Upswing
Bullish Transition:
đź’ŽThe #OKX Exchange's utility token made a decisive break above its long-standing supply zone in February, firmly positioning itself in bullish territory ever since. This wasn't just a fleeting moment; it marked a significant shift in its trading dynamics.
Navigating the Zones:
đź’ŽOver the past six months, #OKBUSDT has been navigating between a $57 resistance and a $38 support. Intriguingly, what was once a supply zone has transformed into a demand zone, evidenced by two prominent rebounds.
Recent Price Movements:
đź’ŽRecent price movements respect the upward trendline on the logarithmic 3Day chart, overcoming a minor resistance with bullish determination. This pattern increasingly suggests we're on the cusp of a pivotal moment, potentially leaning towards an upward breakout.
Potential Upward Trend:
đź’ŽHowever, all eyes are on the descending trendline and the price behavior around it. If the bulls manage to breach this barrier, we could anticipate a continuation of the upward trend, aiming for the $73 dual Fibonacci resistance level. This scenario would represent a nearly 90% price ascent from the current demand zone.
Bearish Possibilities:
đź’ŽFor any bearish undertones to emerge, the demand zone needs to be decisively compromised. Until such a shift, the narrative remains predominantly bullish. As of now, our focus is on the minor support around the $47 mark. Stay vigilant, Paradisers, and keep pace with the ever-evolving crypto landscape!
đź’ŽThe #OKX Exchange's utility token made a decisive break above its long-standing supply zone in February, firmly positioning itself in bullish territory ever since. This wasn't just a fleeting moment; it marked a significant shift in its trading dynamics.
Navigating the Zones:
đź’ŽOver the past six months, #OKBUSDT has been navigating between a $57 resistance and a $38 support. Intriguingly, what was once a supply zone has transformed into a demand zone, evidenced by two prominent rebounds.
Recent Price Movements:
đź’ŽRecent price movements respect the upward trendline on the logarithmic 3Day chart, overcoming a minor resistance with bullish determination. This pattern increasingly suggests we're on the cusp of a pivotal moment, potentially leaning towards an upward breakout.
Potential Upward Trend:
đź’ŽHowever, all eyes are on the descending trendline and the price behavior around it. If the bulls manage to breach this barrier, we could anticipate a continuation of the upward trend, aiming for the $73 dual Fibonacci resistance level. This scenario would represent a nearly 90% price ascent from the current demand zone.
Bearish Possibilities:
đź’ŽFor any bearish undertones to emerge, the demand zone needs to be decisively compromised. Until such a shift, the narrative remains predominantly bullish. As of now, our focus is on the minor support around the $47 mark. Stay vigilant, Paradisers, and keep pace with the ever-evolving crypto landscape!
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Follow a team of traders with 10+ years of experience?
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