Ethereum

Bitcoin

Optimism

The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/price-analysis/this-altcoin-is-set-to-skyrocket-soon-as-is-experiencing-one-of-the-best-days-of-2023/">This Altcoin is set to SkyRocket Soon As Is Experiencing One of the Best Days of 2023!</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a> 
The crypto space continues to trade within a narrow range after the recent downfall, with the Bitcoin price stuck around $26,000. Alongside it, the other <a href="https://coinpedia.org/price-analysis/a-top-analyst-is-extremely-bearish-on-bitcoin-claims-the-price-will-reach-10000-soon/" target="_blank" rel="noopener noreferrer nofollow">high-cap tokens are also flashing bearish signals</a> as the bulls fail to utilize their strength. Amid the bearish chaos, a popular altcoin has managed to gain the attention of whales and sharks, indicating the possibility of huge price action very soon.&nbsp; 
Optimism, one of the top layer-2 optimistic rollup networks designed to strengthen the Ethereum network, is about to undergo a huge change. Despite the recent pullback, the price held the crucial ascending trend, which has been acting as strong support since the beginning. The price, which has triggered a healthy rebound from the lows, has risen by nearly 28% while other cryptos faced a bearish pullback.&nbsp; 
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 <img decoding="async" src="https://lh3.googleusercontent.com/uh3SAFELVK2f3ciwVwCsb_DoL-NIvbTn5qYXpSpEyrS1oMJ0I_FvpbXQ1qN1Ovx3s9ZUWl8K1NXZ2u66PjYOHll4YlWGRyPNtsP6xesk4Y4INUvP7OKVWSvc3nYFVg5PsRktXr2rlId3wqLvgZM5Q-g" alt=""> 
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The trend continues to remain towards the north, with the RSI heading towards overbought levels. This may assist the price to trigger a healthy upswing for the <a href="https://coinpedia.org/price-prediction/optimism-op-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">OP price</a>, which may retest the yearly highs at $1.8 and rise high to form a new one beyond $2. The price has faced multiple rejections at the resistance level of $1.8, and hence the bulls appear to be poised to rise and clear these levels. The buying pressure has also risen, which could offer bulls the required strength to maintain a decent upswing.&nbsp; 
On the other hand, the whales and sharks have become more lenient on crypto as they continue to intensify their accumulation. As per the data from <a href="https://twitter.com/santimentfeed/status/1693743335113109783" target="_blank" rel="noopener noreferrer nofollow">Santiment</a>, the whale and shark addresses holding tokens ranging from 100K to 10M now hold tokens worth $781.9 million. Besides, the daily active address of the network has also seen a huge spike to 22.9K, which is the 5th highest in 2023.&nbsp; 
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 <img decoding="async" src="https://lh3.googleusercontent.com/UJmtOpUJCuVThjg7EDfBZClJMVxZByt11HQweyu-d5An71Zvlt_QF8rCuLtdxGjHz04yT7OlMs3IQpAHV32915GCDEFUUO_CUext-rIkUx7n1NAKjMGTMfiCJ4CKM82P2B-tlZTu77ucytTigL4GNrM" alt=""> 
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Collectively, the layer-2 tokens on Ethereum have gained immense attention ever since the network underwent a massive transformation from PoW to PoS in 2022. However, the other layer-2 tokens continue to remain resilient, while Optimism appears to be preparing for a huge breakout.&nbsp; 
Will rise in the OP price lead to a change in the crypto space? Will altcoins gain momentum? We need just wait and watch and manage risks wisely.&nbsp;

This Altcoin is set to SkyRocket Soon As Is Experiencing One of the Best Days of 2023!

CoinPedia News

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