Arbitrum

Bitcoin

Optimism

Oasis

Crypto Price Prediction: The crypto market witnessed a <a href="https://coingape.com/us-pce-inflation-heres-why-bitcoin-crypto-market-rising-today-ahead-key-data/" rel="noopener noreferrer nofollow">bullish upswing</a> this week as we near 2024 with high confidence toward the potential approval of <a href="https://coingape.com/btc-spot-etf-theories-emerge-about-secs-potential-conditional-green-light/" rel="noopener noreferrer nofollow">Bitcoin spot ETF</a>. The top two leading crypto Bitcoin and Ethereum affirmed the positive sentiment with an 8-10% weekly gain.
The global crypto market cap has reached $1.66 trillion, marking a 1.01% rise from the previous day. Additionally, the total volume of cryptocurrency transactions in the last 24 hours has surged to $75.86 billion, representing a significant increase of 6.91%
Amid this bounce, some selective tokens like Optimism (OP), Oasis Network(ROSE), and Arbitrum (ARB) have recorded the highest jump in the last 24 hours.
Also Read: <a href="https://coingape.com/bitcoin-spot-etf-launch-to-not-deter-microstrategy-investors-asserts-michael-saylor/" rel="noopener noreferrer nofollow">Bitcoin Spot ETF Launch To Not Discourage MicroStrategy Investors, Asserts Michael Saylor</a>
<h2 id="b-optimism-price-analysis-op-leads-sustained-recovery-in-tandem-with-rising-network-activity-b">Optimism Price Analysis: $OP Leads Sustained Recovery in Tandem with Rising Network Activity</h2>
<figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" src="https://s3.tradingview.com/snapshots/q/QeMna5zA.png" alt="Optimism Price Analysis" width="1946" height="893">
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 Optimism Price Analysis| TradingView Chart
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Leading Layer 2 (L2) network <a href="https://coingape.com/markets/optimism-price-prediction-as-op-exits-200-day-accumulation/" rel="noopener noreferrer nofollow">Optimism (OP) coin</a> entered a strong recovery mode in mid-October when the price rebounded from the $1.5 mark. Over the past two months, this recovery has showcased 151% to reach the current trading price of $2.89.
While this rally supported by increasing volume shows the dominant nature of buyers, the constant growth in the number of addresses gives an additional boost to bullish sentiment. A recent post from <a href="https://x.com/intotheblock/status/1737815556726661264?s=20" rel="noopener noreferrer nofollow">Intotheblock in X platform</a> highlighted “The network currently counts over 5.9 million addresses with a balance, up 391% from 1.2 million in January! 
Such steady growth projected in this metric gives a signal of increasing user engagement and adoption levels.
With a 16% intraday gain, the OP price breaks another key resistance, paving the way for a further rally. If the daily candles give a closing above the breached resistance, the buyers may drive the prices another 16% to hit a 10-month high of $3.29.
Furthermore, the 20-and-50-day <a href="https://coingape.com/education/exponential-moving-average-how-to-leverage-it-in-crypto-market/" rel="noopener noreferrer nofollow">EMA</a> can provide strong pullback support in case of occasional correction.
<h2 id="b-oasis-network-price-analysis-key-resistance-breakout-sets-16-5-jump-ahead-b">Oasis Network Price Analysis: Key Resistance Breakout Sets 16.5% Jump Ahead</h2>
<figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" src="https://s3.tradingview.com/snapshots/v/VR7JrIAN.png" alt="Oasis Network Price Analysis" width="1946" height="893">
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 Oasis Network Price Analysis| TradingView Chart
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 The Oasis Network(ROSE) token has been under strong recovery since late October, showing a jump from $0.0396 to $0.118, registering 198.9% growth. However, recovery achieved a significant milestone on 14th December, when the price breached the $0.085 neckline resistance of the <a href="https://coingape.com/glossary/double-bottom-pattern/" rel="noopener noreferrer nofollow">Double Bottom Pattern</a>.
Completion of this bullish reversal pattern gave a strong signal of trend reversal. Today with an intraday gain of 7%, the buyers provide a bullish breakout from another key resistance. This breakout backed by strong volume and recovery sentiment in the market, reflects a higher potential of prolonged rally.
Thus, if the altcoin shows sustainability above this $0.085 mark, the buyers may lead 16.85% to hit the predetermined target of a double bottom pattern at $0.1376.
The momentum indicator <a href="https://coingape.com/glossary/rsi-relative-strength-index/" rel="noopener noreferrer nofollow">RSI</a> at 75% accentuates a suitable bullish momentum for a price rally.
<h2 id="b-arbitrum-price-analysis-bullish-reversal-pattern-hints-a-rally-beyond-1-5-b">Arbitrum Price Analysis: Bullish Reversal Pattern Hints a Rally Beyond $1.5</h2>
<figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" src="https://s3.tradingview.com/snapshots/x/XQOFJtw6.png" alt="Arbitrum Price Analysis" width="1946" height="893">
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 Arbitrum Price Analysis| TradingView Chart
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Over the past seven months, the Arbitrum (ARB) coin has traded majorly sideways below $1.35. However, a look at the daily timeframe chart showed this consolidation as the formation of a bullish reversal pattern called an inverted head and shoulder pattern.
This reversal pattern commonly spotted at the end of a downtrend indicates increasing accumulation and early signs of trend reversal. By press time, the ARB price traded at $1.13, and with an intraday gain of 13.4%, it gave a decisive breakout from the neckline resistance of the aforementioned pattern.
A successful candle closing above this barrier would provide the buyers a suitable support to carry a 38% recovery to hit the April 2023 high of $1.82.&nbsp;
An uptick in the daily ADX(Average Directional Index) slope at the 15% mark indicates the buyers have sufficient steam to prolong a bullish rally.
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The post <a href="https://coingape.com/markets/crypto-price-prediction-today-december-22-op-rose-arb/" rel="noopener noreferrer nofollow">Crypto Price Prediction For December 22: OP, ROSE, ARB</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Crypto Price Prediction For December 22: OP, ROSE, ARB

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