Rally

Optimism

<ul> 
 <li><strong>Optimism (OP) experienced a rally of 5%, propelling its price to $1.79.</strong></li> 
 <li><strong>A surge in active addresses, hitting 22.9K, highlighted Optimism’s (OP) most promising day in 2023.</strong></li> 
</ul> 
<p>In the midst of a challenging period for major altcoins, Ethereum’s scaling solution, Optimism (OP), defies the downtrend. Today, the cryptocurrency <a href="https://thenewscrypto.com/bitcoin-news-blackrock-ceo-expresses-optimism-over-future-of-cryptocurrencies/" target="_blank" rel="noopener noreferrer nofollow">displayed</a> its resilience with a 5% rally, propelling its value to $1.79. Further, a significant 22.9K active addresses marked one of the most promising days for Optimism (OP) in the entirety of 2023.&nbsp;</p> 
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 <blockquote class="twitter-tweet"> 
  <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f433.png" alt="🐳" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4c8.png" alt="📈" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://twitter.com/hashtag/Optimism?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Optimism</a> is seeing some positive signs today, as its +5% pump is accompanied by 22.9K active addresses, among its best days of 2023. Additionally, key whale &amp; shark addresses with 100K-10M <a href="https://twitter.com/search?q=%24OP&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$OP</a> continue holding a high level, currently worth $781.9M. <a href="https://t.co/VOE7uqOQpN" target="_blank" rel="noopener noreferrer nofollow">https://t.co/VOE7uqOQpN</a> <a href="https://t.co/Ie0oX2pJT0" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/Ie0oX2pJT0</a></p>— Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1693743335113109783?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">August 21, 2023</a> 
 </blockquote> 
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<p>According to market intelligence Santiment, high-value addresses—predominantly held by influential whales and sharks—have consistently maintained their positions, collectively amounting to $781.9 million. This commitment from major players signals strong confidence in the long-term potential of Optimism (OP).</p> 
<h2 class="wp-block-heading" id="h-optimism-op-price-back-on-track">Optimism (OP) Price Back on Track?</h2> 
<p>Since August 10th, a downward trend has been evident in Optimism’s (OP) price. This challenging period underscores the <a href="https://thenewscrypto.com/optimism-announces-a-name-change-what-are-the-market-implications/" target="_blank" rel="noopener noreferrer nofollow">significance</a> of the OP cryptocurrency.&nbsp;</p> 
<p>At the time of writing, Optimism’s (OP) price is at $1.53, showcasing a notable intraday gain of 3.80% with a market cap of $1.09 billion. Further, the trading volume has surged by 110% during the intraday trading session, indicating renewed interest and active participation from the trading community.</p> 
<p>Zooming out to a week’s time frame, Optimism (OP) has exhibited a modest increase of around 0.26%. Over the past month, the cryptocurrency has declined by approximately 2.79%. Despite these price fluctuations, it’s essential to highlight the recovery in Optimism (OP), an impressive gain of 66.48% year-to-date.</p> 
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  <img decoding="async" width="1024" height="522" src="https://thenewscrypto.com/wp-content/uploads/2023/08/OP-1024x522.png" alt="" class="wp-image-81021" srcset="https://thenewscrypto.com/wp-content/uploads/2023/08/OP-1024x522.png 1024w, https://thenewscrypto.com/wp-content/uploads/2023/08/OP-300x153.png 300w, https://thenewscrypto.com/wp-content/uploads/2023/08/OP-768x391.png 768w, https://thenewscrypto.com/wp-content/uploads/2023/08/OP-150x76.png 150w, https://thenewscrypto.com/wp-content/uploads/2023/08/OP.png 1303w" sizes="(max-width: 1024px) 100vw, 1024px"> 
  <figcaption class="wp-element-caption"> <em>Optimism (OP) Price Chart (Source: </em><a href="https://in.tradingview.com/symbols/OPUSDT/?exchange=BINANCE" target="_blank" rel="noopener noreferrer nofollow"><em>TradingView</em></a><em>)</em> 
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 </figure> 
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<p>Further, the recent <a href="https://thenewscrypto.com/will-optimism-op-gain-momentum-in-2023-new-crypto-gem-rivals-its-trajectory/" target="_blank" rel="noopener noreferrer nofollow">development</a> is the convergence of Optimism’s (OP) 50-day moving average (50MA) towards its 200-day moving average (200MA). This trend sentiment finds positive momentum in Optimism’s (OP) current positioning above its 50-day exponential moving average (50-day EMA). Moreover, a crucial metric, the Relative Strength Index (RSI), is presently situated at 51, indicating a new correlation in the price momentum.</p> 
<p><strong>Recommended for you</strong></p> 
<p><a href="https://thenewscrypto.com/optimism-op-price-prediction-2023/" target="_blank" rel="noopener noreferrer nofollow">Optimism (OP) Price Prediction 2023</a></p>

Optimism (OP) Defies Downtrend with 5% Rally

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