Optimism Price Forecast: OP to correct 15% as sell signs multiply
Optimism (OP) price has shot up 64% in the last three weeks or so. ...
- Optimism (OP) price has rallied 64% in the last three weeks, reaching a local top at $1.98.
- The price now faces resistance at $1.86 and $1.80.
- Sell signals have emerged on the daily chart, leading to a 10% slide in price.
- The Relative Strength Index (RSI) and Awesome Oscillator (AO) indicate declining bullish momentum.
- A breakdown of the 50 mean level could trigger a 15% correction to the next support level at $1.40.
- A daily candlestick close above $1.86 could invalidate the bearish outlook.
The article presents a cautious outlook on Optimism (OP) price, highlighting the potential for a downtrend and a 15% pullback. However, it also mentions the possibility of a reversal if buying pressure increases. Overall, the sentiment is neutral to slightly bearish.