Resistance

Optimism

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Optimism price prediction shows recovery inside an interesting rising pattern over the daily chart.</a> </li> 
 <li> <span>2</span> <a>OP crypto is trying to surge above 20, 100 and 200-days daily moving averages to remain above 50-EMA.</a> </li> 
 <li> <span>3</span> <a>Optimism cryptocurrency has gained 70.88% year to date.</a> </li> 
</ul> 
<p>The outlook for OP crypto is a promising recovery trajectory within the confines of an ascending parallel channel on the daily time frame chart. Presently, the focus is on upholding OP crypto’s position above the lower trendline within this upward channel. The sustainability of OP crypto’s ongoing recovery rate holds the key to a potential upward move, potentially propelling it towards the upper trendline of the parallel channel.&nbsp;</p> 
<p>Nevertheless, it’s important to note that persistent selling activities continue to pose a challenge, as sellers strive to exert downward pressure on OP crypto’s price, aiming to breach the lower trendline and test its resilience.</p> 
<p>Optimism price was at $1.566 and lost 1.20% of its market capitalization during the day’s trading session. Trading volume fell by 17.83% intraday demonstrating that sellers are trying to pull OP crypto towards the lower trendline of the ascending parallel channel. Volume to market cap ratio was 8%.</p> 
<h2 class="wp-block-heading" id="strong-will-optimism-price-register-its-breakout-strong"><strong>Will Optimism Price Register its Breakout?</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh5.googleusercontent.com/4VG5jz4e2elC1JUbtw2h4F7KFC6HU2dteoyZhwz8IGNwr6vnZW260JXxRK1v122GexRGKoRYewXVFtYfVd1u6F5xdoZN6btO5muZIHGCkoKStSGfVBleoY_cbFBEuYP_INq_wRJywgsSyACs4-Pjag" alt=""> 
  <figcaption class="wp-element-caption">
    Source: OP/USD by <a href="https://www.tradingview.com/x/c4QIS91n/" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p>Optimism price prediction showcases OP crypto’s recovery through an ascending parallel channel. Meanwhile, OP crypto needs to accumulate buyers in order to recover towards the upper trendline of the rising parallel channel. The volume change. Meanwhile, OP crypto is trying to surge above 20, 100 and 200-days daily moving averages to remain above 50-EMA.&nbsp;</p> 
<p>The price of optimism saw a 6.95% decline in a week but increased by 29.08% in a month. OP cryptocurrency has lost about 3.92% over the past three months, and 32.86% over the past six. Over the year, the price increased by 70.88% implying OP recovery may peak in 2023.</p> 
<p>Technical indicators highlight the declining momentum of <a href="https://www.thecoinrepublic.com/2023/08/07/optimism-price-prediction-is-2-the-next-target-for-op-price/" target="_blank" rel="noopener noreferrer nofollow">Optimism cryptocurrency</a>. The rlative strength index (RSI) and moving average convergence divergence (MACD) indicate the downtrend of OP crypto towards the lower trendline.</p> 
<p>RSI was at 49 and is trying to sustain at neutrality. The MACD line is below the signal line waiting for a positive crossover. Investors in Optimism cryptocurrency need to wait for any directional change over the daily time frame chart.</p> 
<h4 class="wp-block-heading"><strong>Summary</strong>&nbsp;</h4> 
<p>Optimism price prediction is a positive outlook for OP crypto. A recovery trajectory within the confines of an ascending parallel channel on the daily time frame chart is visible. Meanwhile, OP crypto needs to accumulate buyers in order to recover towards the upper trendline of the rising parallel channel but the price of OP cryptocurrency increased by over 70.88% so far this year. Technical indicators suggest the declining momentum of Optimism cryptocurrency.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<ul> 
 <li>Support Levels: $1.50 and $1.43</li> 
 <li>Resistance Levels: $1.61 and $1.68</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, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.</p>

Optimism Price Prediction: OP is Rising in an Interesting Pattern

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Thecoinrepublic.com

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