{"id":565703,"date":"2023-12-17T08:58:56","date_gmt":"2023-12-17T08:58:56","guid":{"rendered":"https:\/\/wncen.com\/?p=565703"},"modified":"2024-06-11T14:43:22","modified_gmt":"2024-06-11T14:43:22","slug":"optimism-price-to-resume-bullish-trajectory-to-3-heres-how","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/optimism-price-to-resume-bullish-trajectory-to-3-heres-how\/","title":{"rendered":"Optimism Price To Resume Bullish Trajectory To $3? Here\u2019s How"},"content":{"rendered":"

The Optimism price appears to have struggled over the past week, with its recent bullish momentum seemingly waning. During the altcoin rally<\/a>, the price of Optimism\u2019s native token OP went from a low of $1.2 to a high of nearly $2.5 before experiencing a pullback.\u00a0<\/span><\/p>\n

While OP has managed to preserve a majority of its recently accrued profit, the cryptocurrency seems to be finding it challenging to continue its bullish trajectory. And the latest on-chain revelation suggests that there might be only one thing in the way of the Optimism price rise to a new high.<\/span><\/p>\n

OP Price To Soar By 26% To $2.70, Crypto Analyst Projects<\/strong><\/h2>\n

Popular crypto analyst Ali Martinez<\/a>, in a recent post on the X platform, disclosed his bullish projection for the price of Optimism over the next few weeks. This prediction revolves around on-chain data from IntoTheBlock, which is based on the density of investors who purchased the OP token at certain price zones.<\/span><\/p>\n

\"Optimism<\/p>\n

26,800 addresses purchased roughly 45 million tokens between $2.17 and $2.23 | Source: Ali_charts\/X<\/a><\/span><\/pre>\n
Related Reading: Polygon (MATIC) Price Faces Crucial Turning Point That Could Trigger 50% Rally, Analyst Says<\/a><\/div>\n

The chart above displays how the Optimism price zones around the current value look in terms of investor density. The size of the dot indicates the number of investors who bought the OP coin at each price range. Notably, the resistance or support at a price zone is more significant the larger the dot size of that price zone.<\/span><\/p>\n

In his post, Martinez pointed out that the Optimism price<\/a> is currently bouncing off a major resistance zone between $2.17 and $2.30. According to data from the analytics platform, roughly 27,000 addresses purchased a massive 45 million tokens within this range.<\/span><\/p>\n

Martinez posited that the zone between $2.17 and $2.30 is one to watch out for, given the substantial buying activity within the price range. \u201cA sustained close above could signal a bullish breakout, potentially propelling OP toward $2.70,\u201d the crypto analyst said. This represents a more than 26% price growth from the cryptocurrency\u2019s current value.<\/span><\/p>\n

Optimism Price Overview<\/strong><\/h2>\n

As of this writing, the Optimism price stands at $2.11, reflecting a 2.4% price decline in the past 24 hours. OP\u2019s sluggish performance in the past day underscores the altcoin\u2019s struggles<\/a> over the past week.<\/span><\/p>\n

According to data from CoinGecko<\/a>, the Optimism price has barely changed in the past seven days. Although the cryptocurrency surged to a multi-month high of $2.46 earlier in the previous week, it has since faced some level of correction to trade around $2.10.<\/span><\/p>\n

Related Reading: Analyst Predicts XRP Price Will Rise 800% To $5.5 \u2013 The Timeframe Will Shock You<\/a><\/div>\n

Nevertheless, Optimism still ranks amongst the top 40 cryptocurrencies in the sector, with a market capitalization of roughly $1.94 billion.<\/span><\/p>\n

\"Optimism<\/p>\n

Optimism price experiences correction on the daily timeframe | Source: OPUSDT chart on TradingView<\/a><\/pre>\n
Featured image from The Independent, chart from TradingView<\/em><\/div>\n","protected":false},"excerpt":{"rendered":"

The Optimism price appears to have struggled over the past week, with its recent bullish momentum seemingly waning. During the altcoin rally, the price of Optimism\u2019s native token OP went from a low of $1.2 to a high of nearly $2.5 before experiencing a pullback.\u00a0 While OP has managed to preserve a majority of its recently accrued profit, the cryptocurrency seems to be finding it challenging to continue its bullish trajectory. And the latest on-chain revelation suggests that there might be only one thing in the way of the Optimism price rise to a new high. OP Price To Soar By 26% To $2.70, Crypto Analyst Projects Popular crypto analyst Ali Martinez, in a recent post on the X platform, disclosed his bullish projection for the price of Optimism over the next few weeks. This prediction revolves around on-chain data from IntoTheBlock, which is based on the density of investors who purchased the OP token at certain price zones. 26,800 addresses purchased roughly 45 million tokens between $2.17 and $2.23 | Source: Ali_charts\/X Related Reading: Polygon (MATIC) Price Faces Crucial Turning Point That Could Trigger 50% Rally, Analyst Says The chart above displays how the Optimism price zones around the current value look in terms of investor density. The size of the dot indicates the number of investors who bought the OP coin at each price range. Notably, the resistance or support at a price zone is more significant the larger the dot size of that price zone. In his post, Martinez pointed out that the Optimism price is currently bouncing off a major resistance zone between $2.17 and $2.30. According to data from the analytics platform, roughly 27,000 addresses purchased a massive 45 million tokens within this range. Martinez posited that the zone between $2.17 and $2.30 is one to watch out for, given the substantial buying activity within the price range. \u201cA sustained close above could signal a bullish breakout, potentially propelling OP toward $2.70,\u201d the crypto analyst said. This represents a more than 26% price growth from the cryptocurrency\u2019s current value. Optimism Price Overview As of this writing, the Optimism price stands at $2.11, reflecting a 2.4% price decline in the past 24 hours. OP\u2019s sluggish performance in the past day underscores the altcoin\u2019s struggles over the past week. According to data from CoinGecko, the Optimism price has barely changed in the past seven days. Although the cryptocurrency surged to a multi-month high of $2.46 earlier in the previous week, it has since faced some level of correction to trade around $2.10. Related Reading: Analyst Predicts XRP Price Will Rise 800% To $5.5 \u2013 The Timeframe Will Shock You Nevertheless, Optimism still ranks amongst the top 40 cryptocurrencies in the sector, with a market capitalization of roughly $1.94 billion. Optimism price experiences correction on the daily timeframe | Source: OPUSDT chart on TradingView Featured image from The Independent, chart from TradingView<\/p>\n","protected":false},"author":590,"featured_media":542392,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[87818,86072,86529,11738,87651,86141],"class_list":["post-565703","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-ali-martinez","tag-op","tag-op-price","tag-optimism","tag-optimism-price","tag-opusdt"],"acf":[],"yoast_head":"\nOptimism Price To Resume Bullish Trajectory To $3? 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While the digital asset industry was not his first choice, he has remained absolutely drawn since making a foray into the space over two years. Now, Opeyemi takes pride in creating unique pieces unraveling the complexities of blockchain technology and sharing insights on the latest trends in the world of cryptocurrencies. Opeyemi savors his attraction to the crypto market, which explains why he spends the better parts of his day looking through different price charts. \u201cLooking\u201d is a rather simple way to describe analyzing and interpreting various price patterns and chart formations. However, it appears that is not Opeyemi\u2019s favorite part - in fact, far from it. Being able to connect what happens on a price chart to on-chain movements and blockchain activities is what keeps Opeyemi ticking. \u201cThis emphasizes the intricacies of blockchain technology and the cryptocurrency market,\u201d he would say. Most importantly, Opeyemi thinks of any market insights as the gospel, while recognizing that he is only a messenger. When he is not clicking away at his keyboard, Opeyemi is most definitely listening to music, playing games, reading a book, or scrolling through X. He likes to think he is not loyal to a particular genre of music, which can be true on many days. However, the fast-rising Afrobeats genre is a staple in Opeyemi\u2019s Spotify Daily Mix. Meanwhile, Opeyemi is a voracious reader who enjoys a wide category of books - ranging from science fiction, fantasy, and historical, to even romance. He believes that authors like George R. R. Martin and J. K. Rowling are the greatest of all time when it comes to putting pen to paper. Opeyemi believes his reading of the Harry Potter series twice is proof of that. Indeed, Opeyemi enjoys spending most of his time within the four walls of his home. However, he also sometimes finds solace in the company of his friends at a bar, a restaurant, or even on a stroll. In essence, Opeyemi\u2019s ambivert (haha! been searching for an opportunity to use the word to describe myself) nature makes him a social chameleon who is able to quickly adapt to different settings. Opeyemi recognizes the need to constantly develop oneself in order to stay afloat in a competitive and ever-evolving market like crypto. For this reason, he is always in learning mode, ready to pick up the slightest lesson from every situation. Opeyemi is efficient and likes to deliver all that is required of him in time - he believes that \u201cwhatever is worth doing at all is worth doing well.\u201d Hence, you will always find him striving to be better. Ultimately, Opeyemi is a good writer and an even better person who is trying to shed light on an exciting world phenomenon - cryptocurrency. He goes to bed every day with a smile of satisfaction on his face, knowing that he has done his bit of the holy assignment - spreading the crypto gospel to the rest of the world.","sameAs":["https:\/\/www.linkedin.com\/in\/opeyemi-sule-027bb5227","https:\/\/x.com\/https:\/\/twitter.com\/fwOpeyemi"],"url":"https:\/\/wncen.com\/author\/oluwatosino\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Optimism Price To Resume Bullish Trajectory To $3? 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