Is it Too Late to Buy OKB as Price Pumps Up 25% in 7 Days? Traders Give Their OKB Price Predictions

  • 03 January 2023, Tuesday, 17:05
Is it Too Late to Buy OKB as Price Pumps Up 25% in 7 Days? Traders Give Their OKB Price Predictions
OKB bulls eye a rally to record highs. Source: TradingView

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.

Price Prediction – Can OKB Hit Record Highs?

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 expectations, then OKB could well be looking at a sustained push above $30 and to its late 2021 highs in the $33 area.

A break above here would open the door to a rapid jump to the cryptocurrency’s record highs around $44. The cryptocurrency’s highly overbought relative strength index (RSI) reading, however, suggests that conditions will be choppy, with traders likely to want to book profit in light of recent gains.

But some traders are cautious on the cryptocurrency, given it is the token issued by a centralized cryptocurrency exchange, which are understandably under higher regulatory scrutiny in wake of the spectacular collapse of FTX last November.

Altcoins to Consider

With the broader cryptocurrency market still struggling in early 2023, traders/investors might be looking to diversify their holdings with assets that stand a better chance of posting short-term gains. Here are a list of some of Cryptonews.com’s favourite presale tokens of highly promising crypto projects.

FightOut (FGHT) – Presale Launches

FightOut, a brand-new move-to-earn (M2E) fitness application and gym chain that seeks to bring the fitness lifestyle into web3, has opened its pre-sale and investors think the project could transform the existing web3 M2E landscape. While existing M2E applications such as STEPN only track steps and require expensive non-fungible token (NFT) buy-ins to take part, FightOut takes a more holistic approach to tracking and rewarding its users for their exercise and activity, and doesn’t require any expensive buy-ins to take part.

FightOut's FGHT tokens are currently selling for 60.06 per 1 USDT, and interested investors are encouraged to move fast to secure their tokens, with the pre-sale having already raised nearly $2.6 million in just a few weeks. FGHT is the token that will power the FightOut crypto ecosystem.

Visit FightOut Now

Dash 2 Trade (D2T) – Presale Enters Final Stage

Those interested in investing in a promising crypto trading platform start-up should look no further than Dash 2 Trade. The up-and-coming analytics and social trading platform hopes to take the crypto trading space by storm with its host of unique features.

These include trading signals, social sentiment and on-chain indicators, a pre-sale token scoring system, a token listing alert system and a strategy back-testing tool. Dash 2 Trade’s ecosystem will be powered by the D2T token, which users will need to buy and hold in order to access the platform’s features.

Dash 2 Trade is currently conducting a token pre-sale at highly discounted rates and sales recently surpassed $12.6 million, with over 94% of tokens now gone. The pre-sale dashboard is going to be released soon, with the development team currently running ahead of schedule. Tokens are currently selling for $0.0533 each and will be listed on multiple centralized exchanges starting this month.

Visit Dash 2 Trade here

C+Charge (CCHG) – Presale Now On

The carbon credit industry is projected to be worth $2.4 trillion by 2027. Democratizing access to accrue these benefits is going to massive business in the years ahead and this is something crypto start-up C+Charge hopes to achieve. C+Charge is currently building a blockchain-based Peer-to-Peer (P2P) payment system for EV charging stations that will allow the drivers of electric vehicles (EVs) to earn carbon credits.

C+Charge aims to boost the role of carbon credits as a key incentive for the adoption of EVs. At present, large manufacturers of EVs like Tesla earn millions from selling carbon credits to polluters. C+Charge wants to democratize the carbon credit market by allowing more of these rewards to find themselves in the hands of the EV owners, rather than just the big businesses.

C+Charge has just started its pre-sale of the CCHG token that its platform will use to pay at EV charging stations. Tokens are currently selling for $0.013 each, though by the end of the presale this will have risen by 80%. Thus, investors interested in getting in early on a promising environmentally friendly cryptocurrency project should move fast.

Visit C+Charge here

Source: cryptonews.com