Formation of the Triangle

Learn about OKB's recent triangular pattern breakout, its associated price targets, and the importance of maintaining the ascending trendline for sustaining the upward trend.

4/14/20241 min read

OKB's triangular pattern breakout highlighted with black lines, indicating upward movement, with an
OKB's triangular pattern breakout highlighted with black lines, indicating upward movement, with an

OKB has recently formed a triangular pattern, where the upper side of the triangle is highlighted with black lines and has successfully broken upwards.
Based on this breakout, new price targets have been determined. Additionally, the lower side of the triangle is considered as an ascending trendline, serving a supportive role.
Currently, the price is moving according to the analysis performed.
However, the continuation of reaching the set targets depends on maintaining the ascending trendline. If, for any reason, this trendline breaks, the upward trend could halt, and the price might fall to the red line, which serves as another support line. Maintaining this trendline is crucial to prevent significant changes in the price trend.