OOKI- If You Only Look Past The Hidden Bear Divs..BINANCE:OOKIUSDT has seen a significant decline from its all-time high.
However, the 10-day RSI (Relative Strength Index) and OBV (On-Balance Volume) indicators show higher highs and higher lows.
Currently, the 10-day RSI is at 53 for the first time, and we've successfully backtested the previous resistance.
The trendline, along with the 0.236 Fib level and 50-day SMA, are proving to be strong resistance.
If the bulls manage to break through these levels, their next target will be the 0.382 level, where the Volume Profile POC (Point of Control) is located.
The volume at the POC is much higher than usual.
However, if the bulls fail to break these levels, they need to make sure that a lower low is not established for any continuation to the upside.
Currently, the 10/21 SMA's are providing support, along with a bullish Stochastic cross.
We've seen good bullish volume, but we need more.
Multiple oscillators are printing bearish divergence on the daily, The bears will try to capitalize and aim for a new low near the bottom trendline.
Despite not rallying like Bitcoin yet, BINANCE:OOKIUSDT has a market cap of only 14 million, so it won't take much for it to boom.
What is Ooki?
Ooki is a decentralized trading platform that was built on the Ethereum chain and expanded to data services through the Chainlink oracle. Ooki has a peculiar lending scheme where users can withdraw anytime and earn immediately after they lend their assets. Apart from its trading protocol, Ooki has a DAO and a University. Trading on Ooki is different because the users would only pay minimum fees in event of liquidation, and they can take countless trading positions.
Specualtive Setup, DYOR + DD.
Good Luck!
