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ThecoinrepublicCryptocurrencyOptimism Price Prediction: OP Price Makes a...
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Optimism Price Prediction: OP Price Makes a Bullish Cup

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Price prediction indicates that OP price is attempting to make a rebound. Optimism is presently making a bullish cup pattern on the daily timeframe. Presently, OP token is trading below key moving averages which indicates that the buyers may find it challenging to push the price above its substantial resistance levels.

The Optimism price will require major buyer support in order to make a bullish breakout. Investors are not very confident at present regarding OP network as per the metrics projected by the LunarCrush platform. However, the social engagement level is on the rise.

The price of OP token is presently observing a gain of 25.65% within the last 7 days. There is also a positive surge in the trading activity of optimism crypto between buyers and sellers. The 24h volume is observing an appreciation of 34.66%

Sentiments of the Investors Regarding Optimism

Optimism Price Prediction: OP Price Makes a Bullish Cup
Source:  OP/USDT by LunarCrush

The parameters in LunarCrush suggest that the buyers are not positive regarding OP price though there is a substantial appreciation in the social engagement levels of the buyers. The parameters indicate that despite the decline in the bullish sentiment of the buyer’s OP token holds investors’ interest.

OP price is recording a decline in the bullish sentiments. The total Bullish Sentiment metrics have depreciated by 69.15%. There is a sudden increase in social engagement levels of 246.3%.

OP Price Prediction: Technical Analysis on Daily Chart

Optimism Price Prediction: OP Price Makes a Bullish Cup
Source:  OP/USDT by TradingView

Optimism price is presently trading below the 200 EMA where the 50 EMA is acting as its immediate resistance.

OP price can see a further appreciation in its value if the RSI line succeeds in breaching the resistance provided by the median line. The current RSI value of the OP token is 57.43 points. The RSI line is presently taking support from the 14 SMA levels around 36.51 points.

The %K and %D lines are preparing to make a negative interception in stochastic RSI. The current value of the stochastic RSI is 90.73 points.

Conclusion

According to the analysis, there is a surge in the trading activity of optimism crypto between buyers and sellers as OP price is attempts to make a rebound.

Technical Levels:

Support -$1.000

Resistance – $1.600

Disclaimer

The contents of this page are intended for general informational purposes and do not constitute financial, investment, or any other form of advice. Investing in or trading crypto assets carries the risk of financial loss. The forecasted data (also called “price prediction”) on this page are subject to change without notice and are not guaranteed to be accurate.

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Andrew Smith
Andrew Smith
Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
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