Why Is OKB’s Price Up Today — and Can It Hold Above $200?
The post Why Is OKB’s Price Up Today — and Can It Hold Above $200? appeared on BitcoinEthereumNews.com.
OKB gains over 19% in 24 hours, climbing above $230. Token burn and ecosystem expansion fuel the rally. Analysts say weak trend strength could test $200 support. OKB trades at $230.18, up 19% in the past 24 hours, continuing its strong performance from recent weeks. The OKX exchange token outpaced broader crypto markets despite no major announcements. Traders pointed to tokenomics changes and ecosystem growth as the main drivers of the rally. The price sits comfortably above its 20-day moving average of $193.96, the 50-day at $184.22, and the 200-day at $84.61. Technical analysts said this alignment reflects bullish momentum across all major timeframes. Related: OKB Is Now as Scarce as Bitcoin After the Massive $7.3 Billion Token Burn Supply Burn Fuels Bullish Sentiment Much of the buying pressure traces back to OKX’s August decision to permanently burn 65.26 million OKB tokens, cutting supply by more than half. The move capped total supply at 21 million, a structure similar to Bitcoin’s scarcity model. Following the announcement, OKB’s price jumped 484% as investors priced in reduced circulation. During that month it started its rally near $44 level and has reached an ATH of $257. The token’s utility is also expanding through X Layer, OKX’s blockchain built for decentralized finance, payments, and tokenized assets. With 5,000 transactions per second and near-zero fees, X Layer could support long-term demand if adoption grows. Technical Indicators Show Strong Buying Signals OKB shows bullish momentum, but several indicators urge caution. The daily Relative Strength Index (RSI) is at 75.13, indicating overbought conditions. Resistance has formed at $256, with immediate support between $203 and $208. Traders Union analyst Anton Kharitonov notes that OKB remains in a sideways range. “Until $191 is broken, I stay cautious on further upside,” he said. Despite this, OKB is now trading above…
Filed under: News - @ October 4, 2025 1:25 pm