OKT is making new strides this month. The token is in a restoration course of after it skilled a fall in worth when FTX collapsed, dipping to $14. Nevertheless, the coin made an enormous comeback within the final 24 hours, rising to its new worth right now by 23%. Is OKT price investing in now?

OKC (OKT) Tokenomics and Statistics

OKC buyers have seen a major enhance within the worth of their holdings within the brief time period, with the coin’s worth experiencing a considerable enhance in simply the final 24 hours. The coin’s worth has steadily appreciated over the previous week, suggesting sustained demand from patrons.

OKT is a decentralized cryptocurrency that operates on the OKEx blockchain. It was created to offer a quick and environment friendly strategy to make transactions and alternate worth with out intermediaries. OKT’s market cap has been rising steadily over the previous few months, and this latest surge in worth is a testomony to its rising recognition.

On the time of this writing, OKC (OKT) is buying and selling at $31.58, with a 24-hour buying and selling quantity of $15,141,260. This marks a major worth surge of 23.90% during the last 24 hours and a extra modest enhance of 6.00% up to now week. The present provide of OKT is eighteen million tokens, with a complete market capitalization of $564,288,150.

With a circulating provide of 18 million tokens, OKC has a comparatively restricted provide, which might contribute to elevated volatility in its worth. However, the coin’s present market capitalization highlights its rising significance within the broader cryptocurrency market as buyers search new funding and diversification alternatives.

Each OKExChain and OKBChain are separate blockchain tasks, and so they serve totally different functions. OKExChain is extra targeted on offering a decentralized platform for builders to construct and deploy dApps, whereas OKBChain is extra targeted on offering enterprise options to enterprises

— EthereumFair($ETHF) #PeoplePOW (@EthereumFair) February 16, 2023

The worth of OKT has had an enormous fall in recent times after hitting its all-time excessive in Might 2021. Usually, the coin has fallen 87% from its ATH. Nevertheless, the start of 2023 noticed the coin rising from its Backside of $13, the place it has been on consolidation.

OKT Indicator Value Evaluation: Is a New Excessive In Play?

OKExChain has been exhibiting bullish indicators, buying and selling above its 200-day easy shifting common (SMA) for the previous 74 days since December 8, 2022, with the indicator signaling a BUY. Moreover, the worth of OKExChain is presently buying and selling above its 50-day SMA, which has additionally been signaling a BUY for the final 24 hours.

Based mostly on these technical indicators, OKExChain’s 200-day SMA will proceed to rise within the subsequent month and attain $22.30 by March 21, 2023. In the meantime, the short-term 50-day SMA is projected to hit $30.35 by the identical date.

Presently, the RSI worth for OKExChain is at 57.39, which signifies that the market is in a impartial place. The Relative Power Index (RSI) is a well-liked momentum oscillator that signifies whether or not a cryptocurrency is oversold (under 30) or overbought (above 70). 

OKT Value Prediction: OKT/USDT Each day Chart Evaluation

The worth of OKT hit its backside at $13, sending it to a consolidation section that has lasted half a yr since July 2022. The market worth, nonetheless, started to rise inside the consolidation in direction of the This fall of 2022.

The onset of 2023 noticed the worth of OKT escape above the consolidation section in an upward channel, reaching the resistance at $35. That is adopted by a brief reversal closing under the channel. Nevertheless, the worth bounced again to settle at $31.02.

Based mostly on the technical and basic evaluation above, we are able to predict that the worth of OKT will attain $40 by the top of March 2023. At this degree, the double-top sample can be fashioned, which could drive the worth of OKT to fall.

Associated

Struggle Out (FGHT) – Latest Transfer to Earn Venture

• CertiK audited & CoinSniper KYC Verified
• Early Stage Presale Dwell Now
• Earn Free Crypto & Meet Health Targets
• LBank Labs Venture
• Partnered with Transak, Block Media
• Staking Rewards & Bonuses