{"id":507652,"date":"2022-10-24T22:00:57","date_gmt":"2022-10-24T22:00:57","guid":{"rendered":"https:\/\/wncen.com\/?p=507652"},"modified":"2024-06-11T13:12:08","modified_gmt":"2024-06-11T13:12:08","slug":"optimism-op-cracks-double-digit-gains-can-bulls-breach-1-mark","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/optimism-op-cracks-double-digit-gains-can-bulls-breach-1-mark\/","title":{"rendered":"Optimism (OP) Cracks Double-digit Gains, Can Bulls Breach $1 Mark?"},"content":{"rendered":"<ul>\n<li><strong><span data-preserver-spaces=\"true\">OP&#8217;s price shows the first sign of bounce after seeing its price bottom at the $0.6 support zone.\u00a0<\/span><\/strong><\/li>\n<li><strong><span data-preserver-spaces=\"true\">OP bounced off its downtrend movement as price eyes a break from its downtrend to a region of $1.\u00a0<\/span><\/strong><\/li>\n<li><strong><span data-preserver-spaces=\"true\">The price of OP breaks out of its daily downtrend, acting as a resistance line as the price trades below the 50 Exponential Moving Average (EMA).<\/span><\/strong><\/li>\n<\/ul>\n<p><span data-preserver-spaces=\"true\">Despite many traders and investors expecting the month of October to be fruitful for most crypto, including Optimism (OP), the price of Optimism (OP) has had a difficult start. In recent weeks, the price of OP has failed to replicate the rally from a low of $0.5 to a high of $2. The crypto market, including the big players like Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB), has had a quiet month as the prices of most altcoins have found themselves fighting for survival as they seek to defend their key support areas. (Data from Binance)<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/altcoin\/185-million-worth-of-axs-tokens-set-to-be-unlocked-time-to-get-out-of-axie-infinity\/\" target=\"_blank\" rel=\"noopener \">$185 Million Worth Of AXS Tokens Set To Be Unlocked, Time To Get Out Of Axie Infinity?<\/a><\/div>\n<h2><span data-preserver-spaces=\"true\">Optimism (OP) Price Analysis On The Weekly Chart<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Optimism has struggled to regain its bullish momentum in recent times; despite the uncertainty that has befallen the crypto space, the price of OP hasn&#8217;t enjoyed a measure of relief after showing so much strength on the weekly chart rallying from a low of $0.5 to a high of $2.4 with many becoming interested as to what OP will accomplish.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">After the price of OP rallied to a high of $2.4 with what is its all-time high, the price has faced so much downtrend as the price dropped to a weekly low of $0.6; the price rallied from this low to a high of $0.7, where the price faced resistance to breaking above this region.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The price of OP bounced from its low after facing several rejections to trend; with the week looking more interesting for most crypto projects like OP, we could see a rally to a high of $0.9-$1.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">OP&#8217;s price needs to maintain this structure as the price heads into the monthly close; if OP continues, we could see a price trend toward $1.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Weekly resistance for the price of OP &#8211; $1.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Weekly Support for the price of OP &#8211; $0.6.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Price Analysis Of OP On The Daily (1D) Chart<\/span><\/h2>\n<figure id=\"attachment_507655\" aria-describedby=\"caption-attachment-507655\" style=\"width: 860px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-large wp-image-507655\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/OPUSDT_2022-10-24_18-19-02.png?resize=860%2C569\" alt=\"\" width=\"860\" height=\"569\"><figcaption id=\"caption-attachment-507655\" class=\"wp-caption-text\">Daily OP Price Chart | Source: OPUSDT On <a href=\"https:\/\/www.tradingview.com\/x\/ITMYq0m2\/\" target=\"_blank\" rel=\"noopener nofollow\">Tradingview.com<\/a><\/figcaption><\/figure>\n<p><span data-preserver-spaces=\"true\">In the daily timeframe, the price of OP continues to trade below the key resistance formed at 50 EMA after breaking out of its descending triangle. The price of $0.9 acts as the resistance holding the price of OP from trending higher, which corresponds to the value of the 50 EMA.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The price of OP needs to break and hold above $0.9 for the price to trend higher to a region of $1, which is a key supply zone for most traders. If the OP price fails to break above this region, we could see the price retest its Support at $0.65.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Daily resistance for the OP price &#8211; $0.9-$1.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Daily Support for the OP price &#8211; $0.65.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/dogechain-dc-notches-200-hike-in-trading-value\/\" target=\"_blank\" rel=\"noopener \">Dogechain (DC) Notches 200% Hike In Trading Value In The Past Week<\/a><\/div>\n<pre style=\"text-align: center\"><span style=\"font-weight: 400\">Featured Image From zipmex, Charts From Tradingview<\/span><\/pre>\n","protected":false},"excerpt":{"rendered":"<p>OP&#8217;s price shows the first sign of bounce after seeing its price bottom at the $0.6 support zone.\u00a0 OP bounced off its downtrend movement as price eyes a break from its downtrend to a region of $1.\u00a0 The price of OP breaks out of its daily downtrend, acting as a resistance line as the price trades below the 50 Exponential Moving Average (EMA). Despite many traders and investors expecting the month of October to be fruitful for most crypto, including Optimism (OP), the price of Optimism (OP) has had a difficult start. In recent weeks, the price of OP has failed to replicate the rally from a low of $0.5 to a high of $2. The crypto market, including the big players like Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB), has had a quiet month as the prices of most altcoins have found themselves fighting for survival as they seek to defend their key support areas. (Data from Binance) Related Reading: $185 Million Worth Of AXS Tokens Set To Be Unlocked, Time To Get Out Of Axie Infinity? Optimism (OP) Price Analysis On The Weekly Chart Optimism has struggled to regain its bullish momentum in recent times; despite the uncertainty that has befallen the crypto space, the price of OP hasn&#8217;t enjoyed a measure of relief after showing so much strength on the weekly chart rallying from a low of $0.5 to a high of $2.4 with many becoming interested as to what OP will accomplish.\u00a0 After the price of OP rallied to a high of $2.4 with what is its all-time high, the price has faced so much downtrend as the price dropped to a weekly low of $0.6; the price rallied from this low to a high of $0.7, where the price faced resistance to breaking above this region. The price of OP bounced from its low after facing several rejections to trend; with the week looking more interesting for most crypto projects like OP, we could see a rally to a high of $0.9-$1.\u00a0 OP&#8217;s price needs to maintain this structure as the price heads into the monthly close; if OP continues, we could see a price trend toward $1. Weekly resistance for the price of OP &#8211; $1. Weekly Support for the price of OP &#8211; $0.6. Price Analysis Of OP On The Daily (1D) Chart In the daily timeframe, the price of OP continues to trade below the key resistance formed at 50 EMA after breaking out of its descending triangle. The price of $0.9 acts as the resistance holding the price of OP from trending higher, which corresponds to the value of the 50 EMA. The price of OP needs to break and hold above $0.9 for the price to trend higher to a region of $1, which is a key supply zone for most traders. If the OP price fails to break above this region, we could see the price retest its Support at $0.65. Daily resistance for the OP price &#8211; $0.9-$1. Daily Support for the OP price &#8211; $0.65. Related Reading: Dogechain (DC) Notches 200% Hike In Trading Value In The Past Week Featured Image From zipmex, Charts From Tradingview<\/p>\n","protected":false},"author":566,"featured_media":507660,"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":[86072,86529,11738],"class_list":["post-507652","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-op","tag-op-price","tag-optimism"],"acf":[],"yoast_head":"\n<title>Optimism (OP) Cracks Double-digit Gains, Can Bulls Breach $1 Mark?<\/title>\n<meta name=\"description\" content=\"Despite many traders and investors expecting the month of October to be fruitful for most crypto, including Optimism (OP), the price of OP\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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