Will OKB token price crash after 200% surge?

The price of the OKB token could be directed to a reversal after its 200%rally, because the feeling becomes negative in the mid -whale sales.

According to Crypto.News data, OKB (UN), the native token of Okx exchange crypto, rallied almost 200% for an All high times From $ 125.88 yesterday, August 13, with its market capitalization reaching $ 7.4 billion at the time.

However, the token has since lost some of its earnings and was negotiated at $ 104.4 from press time. He will probably continue to see losses in a sense of lowering feeling on the market.

Santiment data show that OKB’s weighted feeling has moved further in a negative territory after its recent gains, indicating that traders expect a potential withdrawal.

The weighted funding rate on its long -term market has also become negative, which indicates that an increasing number of traders open short positions in anticipation of a new drop in prices.

The backdrop also comes because the whales seem to unload their OKB holdings. Santiment data show a sharp drop in the number of whale addresses holding between 10,000 and 100 million tokens after the OKB rally arrows yesterday.

Such a sale of whale investors could lead to additional drops if it triggers the sale of panic among retail merchants who often follow these investors with a deep pocket in or out of positions.

It is also common on the cryptography market so that the first investors sell their assets to lock the profits after a cryptocurrency reaches a summit of all time. These movements can accelerate a drop in prices for OKB if they coincide with a wider market sale, especially since the overall cryptography market remains close to its new peak and could face increased volatility.

Okb price analysis

On the daily graphic, the OKB price has not established any distinct model, because its recent wave followed month of consolidation In the range of $ 34 to $ 65 since the start of the year.

The relative resistance index formed a downward divergence after entering the excessive area at 95 and subsequently decreased to 91. Although this marks a slight withdrawal, the indicator remains in territory extremely on purchase, always signaling a high risk of a correction.

The average directional index is currently being 24, which suggests that a potential reversal trend is developing but not yet at full power. A reading greater than 25 would confirm that the overthrow is gaining momentum.

Fibonacci’s retirement analysis identifies the following significant support at $ 81.96, corresponding to the level of 38.2%. A decisive break below this level could open the way to a deeper drop to $ 44.20, a key long -term support area.

Conversely, if the purchase of the pressure emerges and OKB rebounds from $ 81.96, it could point out the start of another ascending leg for the token.

The next few days will be essential to determine if OKB can stabilize at higher levels or see his earnings collapse once the post-M-Mallye moment is fading.