OKB targets $260 after an 18% increase

In the past 24 hours, the price of OKB has recorded an impressive growth of up to 18%. This development comes after it bounced off the 20-day exponential moving average (EMA) near the level of $188 on the daily chart.

At the beginning of this month, OKB dropped sharply by 34%, down to $150 to fill the market gap left by the previous price surge. However, the recent recovery indicates that the correction phase may be over, with the 20-day EMA serving as a key support and pivot point.

Source: TradingView## Momentum from retail activity

The recent increase in the price of OKB is mainly driven by retail activity, as shown on the daily chart. According to data from CryptoQuant, there has been a significant increase in accumulation from retail investors at the current price level, indicating renewed confidence in the price appreciation potential of OKB.

Source: CryptoQuant## The increase in open interest for OKB contributes to the bullish outlook

Alongside the increase in retail activity, institutional investors are also flocking to the market, which is reflected in the stable increase in open interest (OI) in the derivatives market of OKB. This surge indicates that more capital is flowing into futures and options contracts related to the token, and history has shown that this increase is often seen as a sign of speculation and increased leveraged betting on price continuing to rise.

Most market analysts view the combination of retail accumulation and the increase in OI as a potential catalyst for the next price increase.

Source: Messari## All attention is focused on $260!

All on-chain indicators and the mentioned technical setups indicate the possibility of a strong price increase for OKB. However, it will need to maintain buying pressure from retail and strong participation from institutional investors for the price increase to be sustainable.

Currently, this price increase is likely to target the next important resistance level near $260, although there are warning signals about the possibility of profit-taking after the current explosive move.

Mr. Teacher