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OKT Token Gains Double Digits Last Week
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Cryptocurrencies boosted by new partnerships
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OKT is correcting but trending upward
OKT, the cryptocurrency native to the OKX chain, made headlines last week. The cryptocurrency closed the weekend at $27 with double-digit gains after trading just $17 seven days ago. OKT has since cooled, trading at $22 at the time of writing. A spot technical check shows that the token has been trending upwards for over a month. What is driving the price?
OKX is a blockchain linked to Cosmos IBC. EVM compatible and focused on true interoperability for high performance. Blockchain bills itself as the next generation platform for decentralized applications. Her Web3 wallet on OKX Chain allows users to manage her portfolio of NFTs and tokens.
OKT’s profits are on a positive backdrop cryptocurrency news of the OKX chain. Blockchain has announced partnerships with social gaming platform Candy Club, DEX network Lovely Swap, and meme he asset Chihuahua Chain. Another company in the latest wave of collaborations was market analytics firm Nansen. Collaboration increases the usefulness of OKT as cryptocurrencies are used in many relevant use cases. Investors are taking notice and buying lesser-known tokens.
OKT Fixes After Meeting Resistance at $27
The technical outlook points to a clear uptrend for OKT, although it is currently correcting. The moving averages are bullish and offer support for cryptocurrencies.The RSI has reached overbought levels but shows a correction is underway. The reading is still above the midpoint.
Will OKT continue to rise?
OKT’s future price action will depend on how major collaborations continue to drive it. We have to remember that the broader market sentiment is bearish. Therefore, OKT should be viewed with bearish sentiment in mind.
For investors looking for buy OKT, Levels around $19 should be on the lookout. A bullish signal formation at the levels could attract buyers and push the price up again.
