Convergence

Ethereum

Optimism

Divergence

The post <a href="https://coinpedia.org/price-analysis/top-layer-2-tokens-gain-massive-price-action-optimism-price-to-jump-as-buy-sign-soars/" rel="noopener noreferrer nofollow">Top Layer 2 Tokens Gain Massive Price Action! Optimism Price To Jump As Buy Sign Soars?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
Following the market correction, the crypto industry has successfully regained momentum as the market has displayed a significant uptrend this week. Further, the top cryptocurrencies have regained power by covering all their losses from the price volatility.
As the Ethereum price records a jump of over 3% in value, top layer 2 tokens follow in the footsteps of the market leader and display similar jumps. Moreover, The <a href="https://coinpedia.org/price-prediction/optimism-op-price-prediction/" rel="noopener noreferrer nofollow">OP price</a> has added over 30% within the past 24 hours, making it the best performer of the day in the crypto space.
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/gd-d6pVLQaD-TEPUDxOa6bJqg_59aB8n2V8Ocqf16VLphlnZDUJGY0RaaZPgh1N_aKPwp7539eFs1-tsuYJX7Jn5LK9K-Bt-gCfi_TSGMF0l9BHYByADZnxENxGv5CPZfPxsSINsWp-kvtYO7kqjDic" alt="Optimism Price Analysis">
 <figcaption class="wp-element-caption">
 TradingView: OP/USDT
 </figcaption>
</figure>
The Optimism token traded in a consolidated range between $1.639 and $1.871 for over two weeks, after which the market gained momentum and the price experienced a jump.
The OP price jumped over 21% following which it faced rejection at $2.272. After this, the price traded sideways for a while in a closed space. The bulls gained power and broke out of the range, but the rally was short-lived as the price faced rejection at $2.495, resulting in the price experiencing a pullback.
The token continued to trade in a closed range for over a week, after which the bulls regained momentum and displayed a jump of 31% recently, suggesting a trend reversal in the price.
<h2 class="wp-block-heading" id="h-will-op-price-go-up">Will OP Price Go Up?</h2>
The Moving Average Convergence Divergence (MACD) displays a constant rise in the histogram, indicating increased buying-over-selling pressure. Moreover, the averages show a significant jump in the chart, highlighting a bullish sentiment in the crypto space.
If the bulls push the price above the resistance level of $2.991, they will continue to gain momentum and prepare to test their upper resistance level of $3.5 in the coming week. Further, if the market holds the price at that level, it will jump and test its resistance level of $4 this month.
Conversely, if the bears gain control over the market, the Optimism price will experience a trend reversal, resulting in the price testing its support level of $2.495 soon. Moreover, if the bears dominate the market, the OP token will plunge further and test its lower support level of $2.272 in the coming time.

Top Layer 2 Tokens Gain Massive Price Action! Optimism Price To Jump As Buy Sign Soars?

Tabla de contenidos

CoinPedia News

Otros artículos publicados el 22 dic 2023

France Welcomes Crypto Giants: Coinbase & Circle Gain Regulatory Nod

Wemade and Singapore's Whampoa Digital in strategic partnership for 100 million USD Web3 Fund

Ethereum (ETH) Price at $5,000 Predicted by BitMex Founder Arthur Hayes

Cosmos Eco. Chain Namada Announced Testnet Rewards and Airdrops for $ATOM Stakers

Metafluence News: www.beyondgames.biz / New Social Metaverse Metafluence City Launches

Bullish Trend Ahead: Fantom (FTM) Rise Signals Potential For Powerful Rally Towards $0.65

¡Únete a nuestro boletín gratuito para recibir actualizaciones diarias de criptografía!