Even though the cryptocurrency market has been bullish in 2023, most prices are still considerably below their peaks. However, OKB and Aptos (APT) are two digital currencies that show bullish price signals and could break all-time highs in April.
OKB Crypto Price Consolidates Before Upward Movement
The OKB price increased alongside a parabolic ascending support line since September 2022. The increase led to a new all-time high price of $58.85 on Feb. 18.
However, the price has fallen since and broke down from the parabola on March 2.
The wave count indicates that the OKB price is currently in wave four of a five-wave upward movement (black). As a result, the correction will likely take the shape of a symmetrical triangle. This is supported by the bounce (green line) at the 0.5 Fib retracement support level and possible support line of the triangle.
Afterward, if the utility token breaks out, the first preliminary target for the new all-time high would be at $72.23, using the 4.61 Fib extension (white) of wave one. However, a more accurate target can be forecast once wave four is complete.
On the other hand, an OKB token price decrease below $23 (red line) would invalidate the bullish forecast. In that case, the OKB price could fall to $12.
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Author: Valdrin Tahiri
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