OKB Bulls Taking the Lead – Eyes on the $48.50 Target!
2024-10-03


 Technical Analysis: 

The price has managed to break above the previous resistance level of  40.00 , which is now acting as strong support. This indicates that bulls are gaining control in the short term. 

Currently, the daily timeframe shows a bullish sentiment with both the Trend and Ribbon aligning upwards. This shift could lead to further bullish continuation if the support at  40.00  holds. The major target for this bullish move is set at  48.50 .

The price must remain above  40.00  to sustain its bullish momentum. If it breaks below this level, the next significant support lies at  37.00 , where the stop loss is set to limit potential downside risk.

A clear breakout above  48.50  would be needed to confirm a stronger bullish trend reversal. If the price fails to maintain above  40.00 , it might signal a pullback or a continuation of the larger bearish trend.

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