The OKB token, the native token of the OKX platform, surged by 160% in the past 24 hours, reaching an all-time high. However, experts warn of potential sell-offs and liquidation risks.
Exchange Inflows May Trigger Selling Pressure
Data from provider Nansen shows that 553,000 OKB tokens have flowed into exchanges over the last 24 hours, equating to about $58 million and reflecting a 36% increase.
Moving such a significant amount of tokens to exchanges often lays the groundwork for selling activity, especially following a price surge.
At the same time, major investors are behaving differently; the top 100 OKB addresses collectively hold over 299.93 million tokens, with a recent 25% increase. This may indicate that whale investors are prepared to absorb selling pressure in the market.
Nansen's report states, "While the amount of tokens entering exchanges emerges as a significant indicator of selling pressure, continued purchases by large investors may limit potential declines."
Liquidation Zones and Short-Term Risks
Market analysis reveals that BingX's liquidation map highlights a $1.1 million long position concentrated at the $92.6 level. If the tokens entering exchanges lead to selling activity and a price decrease, triggered liquidations at this point could pave the way for larger-scale sell-offs.
Compulsory sales resulting from horizontal trends or downward movements could create a ripple effect leading to further price declines. According to experts, the recent rally has left little space between the price and critical liquidation levels, raising the possibility of rapid correction in the short term.
BingX analysis notes, "Once the primary liquidation level is breached, the risk of triggering successive new sell orders may arise."
Technical Indicators Signal Weakening Trend
OKB's price has shown volatile movements on a daily basis, while weekly charts indicate more sustainable trends. The chart shows difficulty surpassing the $142 level but maintains support at $102. Experts warn that if this support level is breached, significant long positions between $106 and $102 could be liquidated.
The Chaikin Money Flow (CMF) indicator has also formed a lower peak compared to November 2024, indicating a lack of new capital entering the market, even if price peaks are observed. Analysts believe that the recent surge is primarily driven by news rather than market fundamentals.
A market strategist commented, "The loss of strength in the CMF, combined with the selling wall and liquidation clusters, poses risks to upward momentum."
Despite the dramatic rise shown by the OKB token, market analysis indicates potential threats and risks that may impact future price movements. The token's future remains a question if the current support is not sustained.
