Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>OKTA stock price (NASDAQ: OKTA) is stuck in the narrow range of consolidation.</a> </li> 
 <li> <span>2</span> <a>Okta Inc stock struggles to climb above the 50-day EMA.</a> </li> 
 <li> <span>3</span> <a>The share price of Okta Inc. is in a short-term downtrend.</a> </li> 
</ul> 
<p>OKTA stock price (NASDAQ: OKTA) is stuck in the narrow range between $66.00 to $77.00. It seems to be consolidating for the base formation and buyers are trying their best to rebound.&nbsp;</p> 
<p>Okta Inc. stock is trying to climb above the 50-day EMA to reverse the short-term trend in favor of bulls. However, the 200-day EMA is placed higher which turns out to be a strong hurdle for the bulls.&nbsp;</p> 
<p>At the beginning of May, Okta stock price took support near $66.00 and showed a V-shape recovery. The stock prices rose upward by forming higher highs and rallied 36% in a short period of time.&nbsp;</p> 
<p>During the rally, it broke out of the 50-day and 200-day EMA and created a positive hope for its investors. On May 31, 2023, Okta Inc. released the previous quarter’s earnings which succeeded to beat the analyst estimates.&nbsp;</p> 
<p>Despite that, the Okta <a href="https://www.thecoinrepublic.com/2023/07/02/okta-stock-nasdaq-okta-will-the-correction-continue-in-okta/" target="_blank" rel="noopener noreferrer nofollow">stock prices </a>reacted negatively and opened a 17.83% gap down. The panic sell-off eroded the previous gains and prices entered into the narrow range consolidation.</p> 
<h2 class="wp-block-heading" id="strong-will-okta-stock-break-the-higher-range-in-the-coming-months-strong"><strong>Will OKTA Stock break the higher range in the coming months?</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh5.googleusercontent.com/ttcu259sgjkOikC5cKvDEGDyf_Hwb7mgRa8naPqlgGLeVVGzLmT5YapUimlyqv9hu0fJShU5Ycn7dfYgdz2XwWI-ZZK8hTZnhrPCySgy9HCiFL-C4Oh7unhoNm5L7FtzYQRQOQV_B2KFfezJmJREEA" alt="OKTA Stock Price Struggles to Break out of the $75.00 Hurdle"> 
  <figcaption class="wp-element-caption">
    NASDAQ: OKTA daily chart by <a href="https://www.tradingview.com/x/5wdQtLq5/" target="_blank" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p>Okta Stock (NASDAQ: OKTA) fell with a strong momentum which hurt the sentiment of long-term investors. The downfall halted near $66.00 and buyers defended the crucial support.&nbsp;</p> 
<p>Okta stock consolidated for a few weeks and absorbed the further sell-off inside the range. Till <a href="https://www.thecoinrepublic.com/2023/07/02/okta-stock-nasdaq-okta-will-the-correction-continue-in-okta/" target="_blank" rel="noopener noreferrer nofollow">Okta stock </a>sustains above $66.00 the probability of upward range expansion remains high.&nbsp;</p> 
<p>However, the price will gain momentum when buyers are able to climb above the 200-day EMA. On the other hand, if sellers took over control and dragged the prices below the $66.00 level. Then it might create concern for the long-term investors.&nbsp;&nbsp;</p> 
<h3 class="wp-block-heading" id="strong-okta-stock-sellers-dominance-is-visible-strong"><strong>OKTA Stock: Sellers’ dominance is visible</strong></h3>  
<div class="tradingview-widget-container">
  &nbsp;&nbsp; 
 <div id="tradingview_e3749"></div> &nbsp;&nbsp; 
 <div class="tradingview-widget-copyright"> <a href="https://www.tradingview.com/" rel="noopener noreferrer nofollow" target="_blank"><span class="blue-text">Track all markets on TradingView</span></a> 
 </div> &nbsp;&nbsp; 
 <script type="text/javascript" src="https://s3.tradingview.com/tv.js"></script> &nbsp;&nbsp; 
 <script type="text/javascript">

  new TradingView.widget(

  {

  "width": 950,

  "height": 500,

  "symbol": "NASDAQ:OKTA",

  "interval": "D",

  "timezone": "Etc/UTC",

  "theme": "dark",

  "style": "1",

  "locale": "en",

  "toolbar_bg": "#f1f3f6",

  "enable_publishing": true,

  "allow_symbol_change": true,

  "studies": [

    "STD;Supertrend"

  ],

  "container_id": "tradingview_e3749"

}

  );

  </script> 
</div>  
<p>OKTA stock price tried multiple times to break the higher range but got rejected. It shows sellers are still active and continuing their dominance on the higher levels.&nbsp;</p> 
<p>The MACD curve sustained above the zero line and sloped upward. It indicates mild bullishness and buyers are trying their best to break the higher range. The RSI at 52 denotes neutral territory and an equal level of tug-of-war between buyers and sellers.&nbsp;</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>OKTA stock price (NASDAQ: OKTA) is consolidating for the base formation. The technical analysis suggests that till Okta stock holds the $66.00 level the probability of a $75.00 breakout will remain high.&nbsp;</p> 
<h5 class="wp-block-heading"><strong>Technical levels</strong></h5> 
<ul> 
 <li>Resistance levels: $77.00 and $91.00</li> 
 <li>Support levels: $66.00 and $60.00</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

OKTA Stock Price Struggles to Break out of the $75.00 Hurdle

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