OKB tumbles 10%, holder addresses drop 13.7% – $125 support is crucial

Key Takeaways

OKB fell nearly 10% as bear volume collapsed from 209.5 million to 41.8K. Holder addresses dropped 13.7%, signaling retail exit. Support at $125 and spot volume trends will decide near-term direction.

OKB [OKB] gave back some of last week’s market gains. The altcoin prices plunged nearly 10% in the past 24 hours on the daily chart.

The move comes just days after the token recorded a progressive bullish run, leaving traders debating whether this was a routine correction or the start of a deeper pullback could be on the cards.

Fading bearish pressure

Digging deeper into the technicals, the Stochastic RSI approached oversold territory, which often points to exhaustion in selling pressure. That would normally favor at least a short-term bounce.

Similarly, seller activity also appeared to ease.

AMBCrypto inferred from IntoTheBlock’s data that the total number of tokens sold by bears collapsed from 209.5 million to just 41.8K, suggesting aggressive profit-taking may have already played out.

Cautionary flags remain

Despite these bullish hints, the on-chain picture looked more mixed. The number of OKB holding addresses fell sharply in the past 24 hours, dropping from ~7.3K to ~6.2K.

Naturally, a decline in wallet activity during a price pullback often shows smaller investors rotating out of positions.

This drop offered a cautionary signal, leaving the market more dependent on whales and speculative traders to sustain momentum.

What comes next for OKB?

The next few sessions will be crucial in shaping OKB’s trajectory. If selling pressure continues to shrink while RSI resets, the token could stabilize and attempt a rebound.

Having said that, the decline in holding addresses was a red flag, suggesting the dip may be more than just a correction.

Retail traders appeared to step back as volatility picked up, leaving the market’s next direction largely in whales’ hands.

In the near term, focus should be on whether the token can defend its key support levels—the next being the demand zone near $125.

Spot volume will also be critical. A renewed accumulation would hint at a rebound. If not, the lack of fresh demand could leave OKB vulnerable to a deeper bearish run.