Summary of OKT Price Prediction
• OKT underwent a surge, climbing to $34.4 from $25.5 in two days and has been attracting attention in the crypto market.
• It traded at $54.25 when launched and peaked at $242 at the start of May, but fell to its current price of $30.77 by July.
• The CMF is indicating contradicting signals, suggesting that a price rise may not be in sight for the token in the near future.
Overview of OKT Token
OKChain recently launched a decentralized commercial public chain with OKT being its native token. It is often confused with OKB, which is a utility token of the OKEx ecosystem, while OKT is exclusively a native token for OKChain blockchain-based transactions and activities on the platform such as staking and voting for governance decisions.
Price Action & Technical Analysis
When it was first introduced on January 21, 2021, OKT was trading for $54.25 soon after being launched during Bitcoin’s bull run period where it was trading at around 36k USD around the same time. Over the next couple of weeks it dropped slightly before beginning an upwards trend mid-February that saw it peak at 242 USD at the start of May however it soon fell to 44 USD by mid-July where it stayed until August when it marked a near-time high at 116 USD before starting its downward trend ever since then currently trading at 30.77 USD . During this time it bottomed out in August 2022 at 13.6USD and has been slowly increasing since then, breaking an important resistance level recently at 28.50USD and could potentially be heading towards resistance levels 3830USD according to technical analysis conducted on its EMA lines . Its recent uprise follows after the FTX collapse drama however sellers are currently withholding prices from rising any further .
CMF Indicator Signals
The CMF (Chaikin Money Flow) indicator is giving contradicting signals regarding whether or not there will be further price increases anytime soon thus far there has been no major correction yet following its mini surge but rather just tiny consolidations indicating potential future mini surges again .
Overall , despite some contradicting signals , there is potential for further mini surges as indicated by its technical analysis however only time will tell if these predictions come true or not .