Based

bullish

Optimism

The post <a href="https://coinpedia.org/price-analysis/optimism-op-price-surge-will-the-uptrend-hit-the-2-mark/">Optimism (OP) Price Surge: Will the Uptrend Hit the $2 Mark?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
With a channel breakout retest rally gaining momentum, the OP price action reveals a high chance of an uptrend. Optimism maintains a solid bullish stance as the broader market stabilizes near the weekend. Will the uptrend in OP price hit the $2 mark with the release of bullish momentum? 
<h2 class="wp-block-heading" id="h-op-price-performance-nbsp">OP Price Performance&nbsp;</h2> 
The OP price action shows a retest phase with a falling wedge breakout rally in the daily chart failing to the 50D EMA. A three-day drop of 15% puts the broken resistance trendline at a retest and completes a three-black crow pattern following an evening star pattern.&nbsp; 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXc1jL3xjW0ANJde6eRjG4z6X70tL1Zq845YneRbovs1XfWWkYmhhtUrnzIzP7z5iz3LvSporphHMOIqOGzqj1NE84AYuP_EP3WFvguXNI7GXGEbvYP0uYgizy-Ls7Uk9IhPDvAg2rp_F1lZ88pwrTROOE1m?key=rMOq9px-Wo8kvlbiZ-9eMw" alt="">
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 <a href="https://www.tradingview.com/x/7xHU6Idt/">Tradingview</a>
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</figure> 
The 4% jump in the last four days puts the bullish team back in action as the post-retest rally gains momentum. With a low-intensity bullish streak of four green candles, the underlying sentiments are gradually shifting.&nbsp;&nbsp; 
The OP token price is currently trading at $1.470 with no significant intraday move after the 3.02% jump last night. As the uptrend gains momentum, the post-retest rally chances are skyrocketing.&nbsp; 
Technical indicators: 
EMA: The declining 50D EMA acts as a dynamic resistance for the altcoin and keeps the bullish attempts under check. Further, the 50D and 200D EMAs maintain a bearish alignment after the death cross event.&nbsp; 
RSI: The daily RSI line shows an uptick crossing above the halfway line, reflecting a resurgence in bullish momentum.&nbsp;Hence, the momentum indicator supports the post-retest reversal chances. 
<h2 class="wp-block-heading" id="h-will-op-price-hit-2">Will OP Price Hit $2?</h2> 
With the channel breakout rally gaining momentum with a post-retest rally, the bull run in the altcoin provides entry opportunities at lower prices.&nbsp;Furthermore, the breakout of the 50D EMA will signal a buying opportunity for the price action traders. 
Based on the Fibonacci levels, the uptrend sustaining above the broken trendline, the 23.60% and 38.20% Fibonacci levels at $2 and $2.52, respectively.&nbsp; 
On the flip side, the $1 psychological mark remains a crucial support level.&nbsp;

Optimism (OP) Price Surge: Will the Uptrend Hit the $2 Mark?

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