OKB correction forward? It is possible to decline to $ 92.7 if this happens star-news.press/wp

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OKB increased by 38 %, wore the last of which was $ 88 to $ 131, a little bit before recovery to $ 127. The demand for future contracts has risen to the highest level in 10 months, but the profit applicants threatened the upward trend.

OKB (OKB) gathered by 38 %, wore the lowest level of $ 88, and broke out to a local increase of $ 131.5 before recovering to $ 127 at the time of the press.

During this period, Altcoin volume increased by 284 % to $ 523 million, while the maximum market wore, and the restoration of $ 2 billion to $ 2.7 billion at the time of the press.

Such height in size and market reflects the flow of fixed capital and increasing activity on the chain. But what leads this height?

The demand for futures skyrockets

When examining the derivative market, interesting, most of the recently widespread capital it appears to flow to future contracts.

According to Coinglass, OKB’s open interest increased by 120.7 % to an increase of 10 months at 4.79 million dollars.

At the same time, the derivative size jumped by 318 % to 27 million dollars, reflecting the increase in participation and capital flow in futures.

Source: Coinglass

Meanwhile, the long/short/short -to 1.075 percentage jumped, reflecting the increased demand for long situations. This often indicates that most of the participants rushed to the market for betting At high prices.

OKB: The applicants in the profit may spoil the party

It is worth noting that with the recovery of prices from the last correction, their holders and investors jumped to the market and spent.

Source: Coinglass

According to Coinglass, Netflow jumped the Altcoin spot to the positive area. From writing these lines, Netflow was $ 13.47 million, a slight increase of $ 8.1 million the day before.

Usually, when Netflow rises, it indicates that the exchanges recorded higher flows compared to external flows.

As a result, OKB supplies fell out of the stock exchanges significantly, reaching the lowest level in 3 months at 245 million. This decrease means that the original faces strong pressure for sale, and is often a prelude to prices.

Source: Santime

Momentum indicators are still optimistic

According to Ampcrypto, OKB gathered amid strong demand, especially for future contracts during the past day.

For this reason, the ALTCOIN’s relative index rose to 86, reaching the peak area.

At the same time, its positive index of the direction movement (DMI) has risen to 69, reflecting a strong upward momentum.

Source: TradingView

Often, when these indicators are in this way, they indicate a strong upward momentum led by buyers to a large extent but warn against volatility.

Therefore, if buying momentum continues, the OKB will continue to climb, restore the resistance of $ 148 and target the highest new level.

On the contrary, if the applicants are defeated by the market, another correction will continue with a decline to $ 92.7.