Learn about OKT, a Cosmos-based altcoin now defying a bear market

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OKT token rose by double digits final week
The cryptocurrency has been boosted by new partnerships
OKT is correcting however stays on an uptrend

OKT, the cryptocurrency native to the OKX Chain, made headlines final week. The cryptocurrency rose by double digits to finish the week at $27 after buying and selling at simply $17 seven days earlier. OKT has since cooled and traded at $22 as of press time. A spot technical test reveals that the token has been on an uptrend for greater than a month. What has been boosting the worth?

OKX is a Cosmos IBC-linked blockchain. It is EVM-compatible and focuses on true interoperability for prime efficiency. The blockchain dubs itself the next-gen platform for decentralised purposes. OKX Chain’s Web3 pockets permits customers to handle their portfolio of NFTs and tokens.

OKT’s features come on the again of optimistic cryptocurrency news of the OKX Chain. The blockchain introduced partnerships with social gaming platform Candy Club, DEX community Lovely Swap, and meme asset Chihuahua Chain. The different agency within the newest wave of collaborations was market analytics agency Nansen. The collaborations improve the utility of OKT for the reason that cryptocurrency will probably be employed in a variety of associated use instances. Investors have been taking be aware and shopping for the little-known token.

OKT corrects after assembly resistance at $27

OKT/USDT Chart by TradingView

A technical outlook reveals OKT on a clear uptrend however presently correcting. The shifting averages are bullish for the cryptocurrency and supply help. The RSI hit the overbought ranges however reveals a correction underway. The studying continues to be above the midpoint.

Will OKT proceed rising?

The future value motion for OKT will depend upon how the important thing collaborations will proceed to drive it. It must be remembered that the broader market sentiment is bearish. So, OKT must be checked out with the bearish sentiment in thoughts.

For traders seeking to buy OKT, the extent round $19 must be watched. The formation of bullish alerts on the stage may entice patrons and push the worth increased once more.