OKB reversed its 3-day bearish trend with a Monday surge, offsetting weekend losses. Meanwhile, Story (IP) rebounded from a descending channel's support line, signaling potential upside. Hyperliquid (HYPE) continued its recovery from a critical trendline established since April.
The broader crypto market faced intensified selling pressure, with Bitcoin (BTC) hovering near $100,000 on Monday. Most altcoins traded in the red, while OKB, IP, and HYPE maintained bullish momentum.
Market Context: Bitcoin's Critical Junction
Bitcoin extended its losing streak to 5 days as bulls struggled to hold the $100,000 level after Sunday's $98,200 low. A close below this psychological barrier could trigger further declines toward Sunday's low, prolonging the market downturn. Conversely, maintaining above $100,000 may fuel altcoin rallies.
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OKB: Bullish Reversal Gains Strength
- Price Action: OKB rose 6% Monday, forming a bullish engulfing candle above $50 support.
Key Levels:
- Resistance: $53.88 (June's potential新高 closing level)
- Target: $56.17 (last tested May 10)
Indicators:
- MACD nearing bullish crossover
- RSI rebounded sharply to 55, signaling recovering momentum
- Risk: Failure to close above $53.88 may prolong consolidation.
| Indicator | Signal | Implication |
|---|---|---|
| MACD | Approaching crossover | Potential trend reversal |
| RSI | 55 (+ upward trend) | Room for growth before overbought |
Story (IP): Channel Rebound Underway
- Breakout: 10% surge past $3 suggests trendline reversal.
- Pattern: Descending channel between $3.78 (upper trendline) and $2.43 (June low).
Indicators:
- MACD histogram fading red
- RSI rebounded from oversold 38
- Outlook: Test of $3.78 likely if momentum sustains.
HYPE: Trendline Support Holds
- Recovery: 3 consecutive green candles, testing $39.05 resistance.
- Critical Level: $34.40 (Sunday's open) must hold to avoid drop to $28.81.
Momentum:
- MACD potential golden cross
- RSI at 49 (neutral)
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FAQ: Key Questions Answered
Q: Why are these altcoins rising while Bitcoin struggles?
A: Independent technical patterns (channel rebounds, trendline bounces) are overriding BTC's influence.
Q: What's the most immediate risk for OKB?
A: Rejection at $56.48 could form another upper wick, indicating exhaustion.
Q: How reliable is HYPE's trendline support?
A: Tested 4 times since April, making it statistically significant—but a breakdown would be bearish.
Q: Could Bitcoin's movement still impact these altcoins?
A: Yes—a BTC crash below $98,200 would likely drag all markets lower despite current resilience.
Disclaimer: This content represents the author's perspective only. Cryptocurrency trading carries substantial risk—consider seeking independent financial advice before investing. CFD trading may result in total capital loss.