The cryptocurrency market is booming: OKB hits a historical peak, Arbitrum and Raydium accelerate closely.

OKB (OKB), Arbitrum (ARB) and Raydium (RAY) have become the most prominent names in the past 24 hours, as the crypto market surged to a record high of over 4.15 trillion USD on Thursday. Positive technical signals along with the overall sentiment indicate that there is still room for growth.

The "risk-loving" mentality of investors continues to rise, especially as Bitcoin (BTC) sets a new historical peak above 124,000 USD, while Ethereum (ETH) approaches the record milestone of 4,868 USD.

OKB continues to rise after burning 65 million tokens

The OKB token has set a new historical peak at 142 USD before a slight adjustment to 105 USD on Wednesday, thanks to support from the burning of about 65 million tokens along with a series of important upgrades in the network. The wave of excitement from this event continues to spread, helping OKB gain more than 4% at the time of reporting on Thursday.

To maintain the breakthrough momentum, OKB needs to conquer the R3 pivot level at 122 USD. If successful, the next target will be the R4 pivot level at 146 USD – a new potential peak.

OKB/USDT Daily Chart | Source: TradingViewThe strong acceleration of OKB clearly reflects a positive divergence on momentum indicators. On the daily timeframe, both the MACD line and the signal line of the MACD indicator are trending upwards in the bullish zone, accompanied by dark green histogram bars, demonstrating explosive bullish momentum. However, the RSI has surged to 94 – an overbought level – signaling the risk of a correction.

On the contrary, if selling pressure returns, the price of OKB may retreat to the nearest support level at the R2 pivot point of 98 USD.

Arbitrum stands at a crossroads with the opportunity to form a golden cross

Arbitrum recorded a slight decrease of 2% on Thursday, following a breakout of 19.60% in the previous session. Nevertheless, the strong uptrend has helped ARB close above the important resistance level of 0.5050 USD, while also setting the highest peak since February 2.

This momentum is bolstered by information that Arbitrum has announced a funding round for USDai, aiming to bring practical AI financial solutions to the blockchain.

If the short-term uptrend is maintained, the 50-day EMA is likely to cross above the 200-day EMA, forming a "golden cross" – a technical signal that often indicates a stronger upward momentum when the short-term trend surpasses the long-term trend. The narrowing gap between the two EMA lines is also seen by investors as a buying signal.

Daily ARB/USDT chart | Source: TradingViewIf the price continues to rise, the resistance area of 0.6676 USD — which was last tested on 31/1 — will be the next significant milestone.

Technical indicators continue to support the bullish trend: RSI is at 68 and approaching the overbought zone, indicating that buying pressure continues to increase; while MACD maintains green histogram bars along with the moving average trending upwards, reinforcing bullish expectations.

On the contrary, if the current correction phase extends, ARB may return to test the newly formed support area at 0.5050 USD.

Raydium aims for a breakthrough mark of 4.00 USD

Raydium continues to maintain its upward momentum, rising nearly 6% on Thursday, extending the impressive 14% jump from the previous day. The token of the DEX platform on Solana is approaching the 4.00 USD threshold, marking the highest level since February 24.

If it closes firmly above this level, RAY could extend its upward journey to 4.60 USD — an area that previously played an important support role on February 18.

The total value locked (TVL) of Raydium has reached 2.269 billion USD, a significant increase from the 2.070 billion USD of the previous day, reflecting an increasingly vibrant activity in the network as users intensify the depositing of digital assets.

TVL of RAY | Source: DeFiLlamaOn the technical chart, the MACD line and the signal line of the MACD indicator continue to trend upwards, indicating that the bullish momentum remains strong. The RSI index reached 71 and is trending upwards, signaling that buying pressure is increasing significantly.

Similar to ARB, the 50-day EMA and 200-day EMA of RAY are approaching a golden cross — a potential buy signal for investors waiting for an opportunity to enter.

Daily chart of RAY/USDT | Source: TradingViewConversely, if RAY is rejected at the 4.00 USD level, the price may return to test the 3.41 USD region, the closing level recorded on 14/5.

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