Top Altcoins to Watch: BNB and OKB Aim for Bullish Breakouts!

Centralized Exchange Altcoins to Watch: OKB (OKB)

The OKB token is exhibiting a bullish breakout from a long-standing resistance trend line on the daily chart. This breakout signifies a trend reversal amidst the current volatility in the altcoin market. Here are some key insights into OKB:

• Recent Performance: OKB’s price has increased by nearly 20% over the past 30 days, reclaiming the $40 mark.
• Fibonacci Levels: The recovery rally is approaching the 23.60% level at $42.64.
• EMA Analysis: OKB has surpassed the 50-day EMA and is challenging the 200-day EMA.

Currently, the price consolidation range between $35 and $42.64 is on the verge of a bullish breakout if OKB exceeds $43. The projected upside targets for the October rally are:

• 78.60% Fibonacci Level: $60
• 1.272 Fibonacci Level: $76

Supporting the bullish sentiment, the MACD and signal lines are nearing a bullish crossover. A successful breakout may lead to a golden crossover on the daily chart, further boosting OKB’s potential.

Binance Coin (BNB)

Analyzing the daily chart for Binance Coin (BNB), we observe a short-term recovery in progress. The price action reveals an ascending triangle pattern, with a psychological resistance zone near the $600 mark. Key insights include:

• Price Action: BNB is currently trading at $583, reflecting a 2.91% recovery overnight.
• EMA Positioning: The altcoin is trading above both the 50-day and 200-day EMA, approaching the 50% Fibonacci level at $587.

The presence of a bullish engulfing candle has significantly increased the likelihood of an overhead breakout. While the alignment of the 50-day and 200-day EMA indicates a neutral signal, a bullish crossover in the MACD near the resistance level heightens the potential for upward movement.

If the bullish scenario plays out, BNB could target prices of:

• $711
• $863

Conversely, the critical support levels for BNB lie at the local support trendline and the 23.60% Fibonacci level around $522.

Conclusion

As the crypto market prepares for a possible bullish shift, CEX tokens like OKB and Binance Coin show promising signs of upward movement. Investors should closely monitor these tokens for potential breakouts and consider them for their portfolios ahead of the anticipated bull run.