Ethereum

Resistance

Optimism

<ul class="list-ic vertical">
 <li><span>1</span> <a>The overall structure is bullish as OP crypto is making higher highs and higher lows.</a></li>
 <li><span>2</span> <a>The OP crypto asset is displaying bullish characteristics as MACD is about to show a bullish cross.</a></li>
</ul>
<p>Optimism (OP) is a layer-two network (L-2) that follows Ethereum and creates decentralized apps (dApps) swift, affordable, and more adaptable.</p>
<p>It does this by a technique called optimistic rollups, which allows dApps to transfer some of their computation and data to another layer while remaining secure and decentralized.</p>
<p>This technique enables low-cost, near-instant Ethereum transactions by joining many transactions into one and processing them on the Optimism layer, with the data sent back to the main Ethereum network.</p>
<p>Optimism objects to avail the minimum number of parts while building a layer-two solution for Ethereum. It means using proven Ethereum code and infrastructure when feasible.&nbsp;</p>
<p>Optimism also aims to keep its code as simple as possible and work directly with existing codebases.</p>
<p>Optimism utilizes optimistic rollups. Optimistic Rollups (ORs) can store transactions on the second-layer blockchain without relying on anyone and send periodic merkle roots of the transactions to the first-layer blockchain.</p>
<p>External validators authenticate these merkle roots, which makes taking out funds from layer-twos using optimistic roll-ups take longer.</p>
<h2 class="wp-block-heading" id="strong-optimism-crypto-is-in-range-which-side-will-it-break-strong"><strong>Optimism Crypto Is In Range, which Side Will It Break?</strong></h2>
<div class="wp-block-image">
 <figure class="aligncenter size-large"><img loading="lazy" decoding="async" width="1024" height="563" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/01/image-240-1024x563.png" alt="Optimism Crypto: The OP Crypto is Near Weak High, Will It Jump?" class="wp-image-187954" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/01/image-240-1024x563.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/01/image-240-300x165.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/01/image-240-768x423.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/01/image-240-1536x845.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2024/01/image-240-750x413.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2024/01/image-240-1140x627.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2024/01/image-240.png 1574w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Source: <a href="https://in.tradingview.com/" target="_blank" rel="noopener noreferrer nofollow">OP/USD</a> COINBASE.1.D. by TradingView
  </figcaption>
 </figure>
</div>
<p>The OP asset is expressing bullish behavior and shows that it has the opportunity to increase further. It has attained good performance in the last week, month, and three months, by 13.94%, 73.42%, and 233.59% respectively, implying a stable upward direction.</p>
<p>At the time of publishing, the OP crypto indicates that it is close to the weak high and is pushing hard to stay close to the high around $4. Moreover, the CMP is at $3.51 with an intraday surge of 5.67%, and the overall structure is bullish as OP crypto is making higher highs and higher lows.</p>
<p>Therefore, if the demand for the OP increases drastically, the asset price could bounce back from the current level and could surpass the weak high as well. Then, the next goal for the price could is to reach $5.00.</p>
<p>On the flip side, if the plan swaps and rather of buyers, the sellers start to surge. Then the price could slump and reach the nearest support which is at $3.00 and below that the market will show a bearish change of character and the market trend might surpass downward.</p>
<p>Over the daily time frame, the price is above the 20, 50, 100, and 200-Day EMAs.</p>
<p>The <a href="https://www.thecoinrepublic.com/2024/01/02/optimistic-2024-for-crypto-hedge-funds-showing-recovery/" target="_blank" rel="noopener noreferrer nofollow">Optimism crypto</a> asset is displaying bullish characteristics as MACD is about to show a bullish cross and the RSI is rising smoothly, implying that the asset is gaining momentum and can achieve new peaks.</p>
<div class="wp-block-image">
 <figure class="aligncenter size-large"><img loading="lazy" decoding="async" width="1024" height="563" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/01/image-241-1024x563.png" alt="Optimism Crypto: The OP Crypto is Near Weak High, Will It Jump?" class="wp-image-187955" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/01/image-241-1024x563.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/01/image-241-300x165.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/01/image-241-768x423.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/01/image-241-1536x845.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2024/01/image-241-750x413.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2024/01/image-241-1140x627.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2024/01/image-241.png 1574w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Source: <a href="https://in.tradingview.com/" target="_blank" rel="noopener noreferrer nofollow">OP/USD</a> COINBASE.1.D. by TradingView
  </figcaption>
 </figure>
</div>
<h4 class="wp-block-heading"><strong>Summary</strong></h4>
<p>Observing the major trend exponential moving averages, it shows that, over the daily time frame, the price is above the 20, 50, 100, and 200-Day EMAs.</p>
<p>The OP crypto asset is displaying bullish characteristics as MACD is about to show a bullish cross and the RSI is rising smoothly, implying that the asset is gaining momentum and can achieve new peaks.</p>
<p>Therefore, if the demand for the OP increases drastically, the asset price could bounce back from the current level and could surpass the weak high as well. Then, the next goal for the price could be is to reach $5.00.</p>
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4>
<p><strong>Support Levels</strong>: $3.00</p>
<p><strong>Resistance Levels</strong>: $5.00</p>
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5>
<p>In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.</p>

Optimism Crypto: The OP Crypto is Near Weak High, Will It Jump?

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