Key Notes
OKB price soared 30% to $220 after a viral XRP airdrop campaign boosted KYC sign-ups and token demand.
Derivatives activity exploded with $401M in trading volume and $1.21M in short liquidations, indicating a short squeeze.
Despite bullish momentum, RSI at 93.91 flags overbought conditions, with key support at $180 and resistance near $240.
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A second airdrop announcement on Thursday drew over 321,000 views on X at press time. The surge in attention translated into heightened demand for OKB, as users rushed to complete KYC accounts and participate in the promotional events, boosting on-chain activity and token demand.
OKB Derivatives Market Analysis, Aug. 21, 2025 | Source: Coinglass
Derivatives market trends also reflected this bullish narrative. According to Coinglass data, OKB trading volumes surged 386% to $401.31 million, while open interest jumped 119% to $20.29 million.
Liquidations totaled $2.04 million, with $1.21 million in shorts wiped out versus $836,630 in longs. The skew toward short liquidations confirms traders were caught off guard by the rally’s strength, while the sustained increase in open interest indicates fresh capital continues to enter OKB markets.
OKB Price Forecast: Bulls Eye $240 as RSI Hits Overbought Extremes
OKB’s parabolic move pushed the token to $220 at press time, now posting gains in excess of 200% in August alone. However, technical indicators highlight certain risk factors ahead as price breaks into overbought territory.
As seen below, the breakout candle on Aug. 21 carried OKB far above its 20-day Bollinger Band midpoint of $83.41, with the upper band now extending to $180.78. With the OKB price already above that threshold, momentum remains firmly in bullish hands. If buyers sustain the rally, the next key resistance lies at $240, a psychological barrier near the recent intraday high.
OKB Price Forecast | Source: TradingView
Despite that, it is important to note the RSI trending at 93.91 signals heavily overbought conditions and an imminent profit-taking phase.
If OKB retraces, initial support is expected near the $180 zone, corresponding to the upper Bollinger Band. A sharper correction could drag the price toward $150, where bulls could find consolidation before attempting another breakout. A failure to hold above $150 could trigger a deeper retracement toward the $120 support zone.
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