<em><strong>OKB prices struggle to rise above the 50% Fibonacci level and the 50-day SMA despite a 22% jump teasing a bearish turnaround.</strong></em>

The OKB prices jump by 22% to create a bullish engulfing candle reaching the 50% Fibonacci level near the 200-day SMA. However, the selling pressure above the Fibonacci level and the opposing 50-day SMA warns of a bearish reversal. So, should you expect a bullish trend above the 50% Fibonacci level to reach $20, or a bearish reversal will drop the prices to $15?
<h3>Key Points:</h3>
<ul>
 	<li>The OKB price action shows a power struggle at the 50% Fibonacci level.</li>
 	<li>The opposing 50-day SMA knocks the price back under the 50% Fibonacci level.</li>
 	<li>The intraday <a href="https://www.cryptoknowmics.com/news/why-trading-volume-matters-in-crypto-investment/" target="_blank" rel="noopener">trading volume</a> in OKB is $61.73 million.</li>
</ul>
<img class="alignnone" src="https://s3.tradingview.com/snapshots/l/lhdJPkko.png" alt="OKB/USD Price Chart" width="2047" height="1006" />

Source - <a href="https://www.tradingview.com/x/lhdJPkko/" target="_blank" rel="nofollow noopener">TradingView</a>
<h2>OKB Technical Analysis</h2>
The OKB prices took a bearish turnaround from the $22 resistance level with an evening star pattern resulting in a price drop of 40% within 20 days to reach the $13.5 mark. However, the recent bullish engulfing candle with a 22% price jump comes to a 50% Fibonacci level at the $16.5 mark.

Furthermore, the increase in intraday trading volumes supports the bullish reversal as it exceeds the 200-day EMA. However, the higher price rejection from the 50-day EMA put the prices back under the 50% Fibonacci level displaying a power struggle at the 200-day EMA.

Hence the opposition from the 50-day EMA might push the market value back to the psychological mark of $15. However, if the buyers undermine the higher price rejection, an uptrend continuation will hit the psychological mark of $20.
<h2>Technical Indicators</h2>
The daily-RSI slope spikes to the halfway line from the oversold zone reflect a phenomenal increase in the underlying buying pressure.

The fast and slow lines give a bullish crossover restarting the bullish histograms trend, teasing a potential uptrend continuation in the OKB prices.

Hence the technical indicators maintain a buy signal despite a higher price rejection in the daily candle.

Resistance Levels - $18 and $20

Support Levels - $15 and $13

OKB Technical Analysis: Struggle At Fib Level Warns Bearish Outcome

The technical analysis shows how OKB prices struggle to rise above the 50% Fibonacci level despite a 22% jump, teasing a bearish turnaround.

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

OKB Technical Analysis: Struggle At Fib Level Warns Bearish Outcome

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