OKB breaks long-term resistance and sets a record high, fueled by a powerful technical breakout.
Introduction
OKB, the native token of the OKX exchange, has recorded a historic price surge, skyrocketing from $46.57 to $103.58 within a single week — a gain of 122.32%. This move has propelled OKB to a new all-time high, surpassing its previous peak near the $72 level and confirming a strong bullish breakout from multi-year consolidation.
The weekly chart reveals a consistent uptrend supported by a long-term ascending trendline dating back to mid-2021. This trendline acted as a firm base during market corrections, with the green zone near $38–$45 serving as a crucial accumulation area for buyers.
Following a period of sideways trading, OKB decisively broke above the key horizontal resistance between $68–$72. The breakout was supported by an explosion in trading volume, signaling strong conviction among market participants.
“Breaking past the $72 resistance is a significant technical milestone,” According to BITX market analyst. “It not only clears the previous top but opens the way for extended price discovery.”
The chart’s vertical projection suggests the possibility of further upside momentum, with technical targets pointing well above the $110–$120 range in the coming months, provided market sentiment remains favorable.
Market Impact and Sentiment
This rally positions OKB among the best-performing large-cap cryptocurrencies in recent weeks. The move is notable for its speed and magnitude, with the token doubling in value in just days. Such surges often attract momentum traders and speculative interest, potentially fueling short-term volatility.
However, experts warn of potential pullbacks after steep rallies. “While the breakout is bullish, traders should watch for retests of the $72 zone as support. Sustaining above that level will be key to maintaining this upward trajectory,”According to BITX analyst .
OKB’s 122% weekly surge and breakout to a new all-time high highlight both the strength of its long-term technical structure and the current bullish momentum in select altcoins. As the token enters uncharted territory, the focus now shifts to whether it can sustain its gains and build on this historic move.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.