In the recent cryptocurrency market, the OKB token has attracted attention, surging 160% in the past 24 hours. OKX's native token, OKB, once soared above $135, setting a new all-time high. However, whether this rapid increase can be sustained in the long term remains in question. Despite the surge in OKB prices, analysts point out that three key indicators suggest there may be selling pressure in the market.

Forex inflow may trigger selling pressure

According to data provider Nansen, 553,000 OKB tokens have flowed into exchanges in the past 24 hours. This amounts to approximately $58 million in trading volume, an increase of 36%. Such a large influx of tokens into exchanges typically triggers selling activities, especially after price surges.

However, there are significant differences in the behavior of major investors. Currently, the top 100 OKB addresses hold over 299.93 million OKB tokens, with recent holdings increasing by 25%. This suggests that whale investors may have the potential to absorb market selling pressure. However, experts warn that the accumulation by large wallets does not always support prices in the short term and may reflect a long-term strategy.

Nansen's report states, 'While the number of tokens entering exchanges is an important indicator of selling pressure, continued purchases by large investors may limit potential declines.'

Clearing zone and short-term risk

Market analysis shows that BingX's liquidation chart highlights a long position of $1.1 million concentrated at the $92.6 level. If tokens entering the exchange trigger selling activities and cause prices to drop, the liquidations triggered at this time may pave the way for larger-scale sell-offs.

Forced selling caused by horizontal or downward trends may trigger a chain reaction, leading to further price declines. Experts say that the recent rise has almost no gap with key liquidation levels, increasing the likelihood of a rapid pullback in the short term.

BingX analysis points out, 'Once the main liquidation level is breached, there may be a risk of triggering continuous new sell orders.'

Technical indicators show a weakening trend

The daily chart of OKB shows a volatile trend, but the weekly chart displays a more sustainable trend. The candlestick chart indicates that breaking through the $142 mark is difficult, but the current support level is at $102. Experts warn that if this support level is broken, a large number of long positions between $106 and $102 may be liquidated.

Compared to November 2024, the Chaikin Money Flow (CMF) indicator has also formed lower peaks, indicating a lack of new capital entering the market even if prices peak. Analysts believe that the recent surge is mainly driven by news reports rather than market fundamentals.

A market strategist commented, 'The loss of strength in the CMF, combined with sell walls and liquidation clusters, poses a risk to upward momentum.'

If the current support level of $102 holds, the next important support levels on the weekly chart will be around $90 and $78. Dropping to these levels may indicate a rapid price decline. However, if the price breaks through the resistance level of $118, with reduced inflow to exchanges and continued accumulation by large addresses, the short-term bearish scenario may weaken, leading to a retest of $142.