Is it Too Late to Buy OKB as Price Pumps Up 25% in 7 Days? Traders Give Their OKB Price Predictions
In light of its recent run to the upside that has seen the OKB token gain over 23% in the last week and nearly 35% in the last month, despite a broadly stagnant broader cryptocurrency market, investors are asking whether it might now be too late to buy the cryptocurrency. Have the easy gains also been printed? Can the rally be sustained? For the most part, price predictions remain bullish.
OKB/USD was last changing hands close to $29 per token, down about 1.0% in the last 24 hours as the recent rally takes a breather on Tuesday, the first proper trading day in US markets of the year. OKB, an ERC-20 utility token that gives its holders various benefits and discounts on the OKX exchange, has been rallying since the collapse of rival exchange FTX in early November.
Coinbase ranks OKX as the ninth best cryptocurrency exchange based on factors such as liquidity and volumes. One trader going by the name of @ayush_nfa on Twitter pointed out OKB bullish chart structure.
Despite noting that total value locked (TVL) in Decentralized Finance (DeFi) smart contracts on the OKExChain remains “too low”, @ayush_nfa noted that good developments surrounding the chain could yet make it a hit.
From a trading perspective, the above noted upside break of the downtrend that had been in play since mid-2021 means the door remains open for further upside. Bulls will likely be targeting a test of resistance in the $33 area.
Meanwhile, OKB’s record highs are “just” around 55% up versus current levels (not that much in the world of altcoins). Should optimism about the OKX exchange continue and should we also see an improvement in the broader tone of cryptocurrency, perhaps if US macro developments this week result in an easing of Fed tightening
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