OKCASH Price Prediction Today: Daily (OK) Value Forecast – June 5
- The short-term outlook is in consolidation while the medium-term outlook is in an uptrend.
- Patience is required at this period.
OK/BTC Medium-term Trend: Bullish
Supply zones: 0.0000012, 0.0000014, 0.0000016
Demand zones: 0.0000030, 0.0000020, 0.0000010
The cryptocurrency medium-term outlook is an uptrend. The bears exert strong pressure on the cryptocurrency as price drop to $0.0000061 in the demand area which is the 78.6 fib trend reversal area. The 50-EMA was strong support as the bulls stage a major comeback from here.
The bullish momentum is back with price up at $0.0000085 in the supply area with a large bullish candle and the signal of the stochastic oscillator points up which suggest upward momentum in price in the medium-term.
More candles may be opened and closed above the two EMAs which indicates new buyers positions in the market as the bulls journey back north.
OK/BTC Short-term Trend: Ranging
The coin continues in a range-bound market in the short-term outlook. The lower price range was broken briefly during yesterday session with a drop to $0.0000061 in the demand area. This was the low of the day. Price closed within the range due to the bulls return before the session ended.
The bullish momentum was lost at $0.0000071 as the market opens today with a bearish hammer an indication of a reversal. OKBTC dropped to $0.0000061 breaking the lower price range but failed to retest as the bulls pushed price back in the range.
The cryptocurrency is in consolidation and trading between $0.0000095 in the upper supply area and at $0.0000064 in the lower demand area of the range. A breakout at the upper supply area or breakdown at the lower area may occur hence patience is required to allow this to happen before a position is taken.
Live OKB (OKB) Price:
1 OKB/USD =$32.9662 change ~ 1.46%
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