Optimism (OP) Strengthens Bullish Retracement

Optimism (OP) is showing renewed bullish strength, with its price climbing over 10% at the time of writing. The current trading session has moved above key technical levels, setting the stage for potential continued upside momentum.

OP Statistics

Current Price: $0.8180

Market Capitalization: $1.44B

Circulating Supply: 1.75B

Total Supply: 4.29B

CoinMarketCap Rank: #68

Key Price Levels

Resistance: $0.8500, $0.9500, $1.0500

Support: $0.8000, $0.7000, $0.6000

OP Targets Continuation Above $0.800

Price action in the Optimism market has broken through the key $0.800 resistance level with strong momentum. Although the surge has attracted some short-term selling pressure, OP remains firmly above this critical level. The upper band of the Bollinger Bands (BB) indicator is angled upward, indicating continued bullish momentum.

The Smoothed Rate of Change (SROC) indicator also maintains a solid trajectory above the equilibrium level, supporting the ongoing bullish trend. The latest candle is green and positioned above the midline of the BB indicator—suggesting strong buyer presence and further upside potential.

Optimism Holds Above Key Technical Zones (4-Hour Chart)

On the 4-hour OP/USDT chart, price action remains above important technical thresholds. The most recent candle has printed red, indicating slight resistance, but trading remains above the upper band of the Bollinger Bands, which still slopes upward.

The body of the candle appears contracted upward, reflecting some indecision, but not a reversal. Meanwhile, the SROC line continues its smooth ascent above the equilibrium level, now turning green as it gains further traction. Altogether, these signals suggest that the market is eyeing a move toward the $1.00 price mark.

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