- The value of Optimism (OP) has risen greater than 8% within the final 24 hours to $1.51.
- This constructive every day efficiency boosted the weekly efficiency of the altcoin to +23.44%.
- Technical indicators recommend that OP might rise to $1.557 within the subsequent 48 hours.
Whereas most cryptocurrencies have been buying and selling within the purple over the weekend, the identical couldn’t be stated for Optimism (OP), as Optimism gained greater than 8% within the final 24 hours alone. CoinMarketCap stated the altcoin was value about $1.51 at press time.
Along with the worth enhance, OP’s 24-hour buying and selling quantity over the day gone by additionally elevated by greater than 90%, bringing it to $402,514,532 at press time. The crypto’s success over the previous 24 hours has additionally seen its weekly efficiency deteriorate additional to +23.44%.
OP not solely strengthened in opposition to the greenback, but additionally managed to outperform the 2 market leaders Bitcoin (BTC) and Ethereum (ETH) by 10.81% and 10.82% respectively within the final buying and selling day. Consequently, 1 OP was value 0.00005006 BTC and 0.0007825 ETH.
Alcoin additionally managed to hit a 24-hour excessive of $1.60, however has recovered barely to present ranges. Nonetheless, OP traded nearer to its every day excessive than its every day low of $1.38.
OP managed to interrupt by means of a robust resistance degree at $1.478 within the final 24 hours and continued to commerce above a key worth level at press time. If the upward momentum continues, the altcoin worth might try to interrupt the following main resistance degree at $1.557 within the subsequent 48 hours.
Technical indicators present that the OP was in a medium-term bullish cycle, with the 9-day EMA above the 20-day EMA. Furthermore, each of those technical indicators have been very excessive above the numerous 50-day EMA line.
If the OP worth falls beneath the $1.478 degree within the subsequent 24-48 hours, then the bullish thesis might be invalidated. On this state of affairs, the worth of the cryptocurrency may fall to $1,434 within the subsequent few days.
Disclaimer: The views and opinions, in addition to all info shared on this worth evaluation, are revealed in good religion. Readers ought to do their very own analysis and do their due diligence. Any actions taken by the reader are strictly at their very own threat. Coin Version and its associates won’t be held accountable for any direct or oblique injury or loss.
