The increased selling pressure drives the OKB price lower to the base of the descending triangle. Hence, a bearish fallout is possible below the triangle.

OKB is the cryptocurrency released by the OK Blockchain Foundation and crypto exchange OKEx. It is the third-largest exchange in the world, ranks fourth in trading volume and liquidity, and offers a large selection of trading pairs. 

Let us now move ahead to the technical analysis of the OKB token.
<h2>Past Performance of OKB</h2>
The OKB coin price falls 25% in the <a href="https://www.cryptoknowmics.com/news/okb-technical-analysis-uptrend-soon-to-touch-35/">past two weeks</a>, retracing to the support zone near the $23.5 mark. Thus, the price action forms a descending triangle pattern in the 4-hour chart. 

Hence, the fallout of the $23.5 support zone can serve as an excellent entry spot for bearish traders. Whereas, a bullish reversal might struggle to rise above the resistance trend line in the 4-hour chart.

<img src="https://s3.tradingview.com/snapshots/y/YRxJVexJ.png" alt="TradingView Chart" />

<a href="https://www.tradingview.com/x/YRxJVexJ/">OKB/USD Daily Chart</a>
<h2>OKB Technical Analysis</h2>
The descending triangle pattern stands strong in the OKB price chart. However, the price bottles up within the triangle indicating a breakout shortly. 

The price action indicates the downfall may find support near the $20 mark. However, if the price manages to rise above the resistance trend line, an uptrend to the $30 mark is possible.

The RSI slope falls below the central line in the 4-hour chart, indicating a solid bearish trend. However, the falling prices fail to push the RSI slope below the 30% mark. Hence, the RSI indicator projects the possibility of a bullish breakout.

The coin price is below all the crucial Exponential Moving Averages in the 4-hour chart. Additionally, the 50-and 100-day EMAs give a bearish crossover in the 4-hour timeframe. Hence, the EMAs provide a sell signal.
<h2>Upcoming Trend</h2>
The bearish move in the OKB coin price may soon break below the $23.5 support zone as the selling pressure grows. Hence, traders can find a selling opportunity with a target of the $20 mark.

And, in case of a bullish reversal, the solid resistance trend line may push the price back to the support zone.

OKB Technical Analysis: Downtrend Approaches the Support of Descending Triangle

The increased selling pressure drives the OKB price lower to the base of the descending triangle. Hence, a bearish fallout is possible below the triangle.

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: Downtrend Approaches the Support of Descending Triangle

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