The altcoin with the largest pump on August 21: OKB hits 200 USD, with CFX and GT strongly following the pump.

The cryptocurrency market quickly rebounded after a brief turbulence caused by the Federal Reserve's meeting minutes, with several mainstream and platform tokens experiencing a strong rebound. Among them, OKB (OKB) led the rise, with a cumulative increase of over 50% in just two days, reaching a new historical high; Conflux (CFX) and GateToken (GT) also recorded double-digit gains, becoming the market focus.

OKB has risen for two consecutive days, with bulls aiming for the $200 mark

(Source: Trading View)

After OKB surged 42% on August 20, it rose again by 9% on the 21st, reaching a historic high of $195. The technical indicators show that bulls are challenging the psychological barrier of $200. If successful in holding above this level, it will break the R2 pivot level and may further challenge the R3 target of $255.

The 4-hour chart shows that the MACD indicator and the signal line are exhibiting an almost vertical upward trend, indicating extremely strong buying momentum; the RSI has reached 84, and while it is in the overbought zone, it continues to rise steadily, suggesting that demand is still increasing. However, the overheated technical indicators also imply an increased risk of short-term profit taking. If a correction occurs, the R1 level at $158 may become the first support level.

Conflux Rebound momentum strengthens, challenging 0.2291 USD resistance

(Source: Trading View)

After CFX rebounded 12% from the 50-day EMA on August 20, it rose over 6% again on the 21st, currently oscillating near the pivot point of $0.1884. If the daily closing price breaks above this level, it is expected to challenge the key resistance of $0.2291 (closing price on July 30).

The distance between the MACD indicator and the signal line is narrowing, and a potential golden cross may trigger a new round of buying; the RSI has broken above the midpoint to 56, indicating a resurgence of buying power. If it falls below the 50-day EMA, it may test the support of the 100-day EMA at $0.1390.

GateToken breaks through key resistance, targeting 20 dollars

(Source: Trading View)

GT surged over 6% on August 21, continuing the previous day's gain of 4.49%, and broke through the key resistance level of 18.49 USD. If the closing price stabilizes above this level, it will open up upward space, targeting 20.43 USD.

The MACD signal line has rebounded and maintained a positive arrangement, indicating that bullish momentum remains strong; the RSI is at 64, still having room away from the overbought zone. If it falls below the 200-day EMA of $17.87, it may test the 50-day EMA of $17.23.

Conclusion

The strong rise of OKB, CFX, and GT reflects the market's rapid recovery ability after the impact of macro news. The historical high of OKB and the breakout trend of GT have injected new momentum into the Platform Token sector; the technical rebound of CFX indicates that funds are looking for high beta targets. However, the excessive short-term gains also mean that the risk of a pullback has increased, and investors should pay attention to key support levels and changes in technical indicators. For more real-time market data and in-depth analysis, please follow the Gate official platform.