IGNITION
streamoors
Injective
NEAR Protocol
Pearl
LayerZero
Quantus
- Optimism price has decreased by 39% in the 6 months.
- OP coin has a circulating supply of 791.06 Billion.
Optimism (OP) coin is trading in a downward momentum. The price of OP is forming a lower-low pattern. The price of the OP coin is creating a strong bearish pattern.
Financial Data of Optimism (OP)
The market capital of OP is $1.06 Billion. Currently, OP is trading at $1.32, with a fall of 1.32% on 6 September 2023. The coin has a total circulating supply of 798,517,235 OP coins.
The Open Interest of the Optimism coin is $96.04 Million. The OI of OP has declined by around 1.48% in the last 24 hours. This indicates that the sellers are active in the coin and making a fresh position. This might lead to a price decline of OP.
The OP has an average trading volume of $454K. The fully diluted valuation of the OP is $5,689,337,448. The coin has made a 52-week high of $3.26 and a low of $0.6.
The all-time high of OP coin is $4.57, which was achieved on May 31, 2022. The coin has declined by over 71%, after hitting this high.
The OP coin is ranked at #42 as per the market cap ranking. The coin has shown a decline of almost 22% in a year.
As per the technical summary tool, the Optimism coin is indicating a sign of bearish momentum. Out of the total 26 indicators in a daily timeframe, 14 are giving a sell signal and only 2 are giving a buy signal.
Optimism (OP) Technical Analysis
The price of the Optimism coin is currently trading above the 50-day and 100-day EMA levels. This is a negative sign for Optimism. There is a high probability for the OP price to fall in the upcoming days.
The MACD line for Optimism is currently trading at 0.4 and the signal line is at 0.5. This shows that the OP coin’s MACD line is below the signal line. This is a negative signal. Thus, the OP coin price is likely to be high.
The RSI line for Optimism coin is currently declining after hitting the overbought region. RSI is currently at 30 regions and it is heading forward. This is a negative sign. The coin price is likely to fall in the future.
Conclusion
In conclusion, the Optimism (OP) coin is trading in a downtrend. The technical summary reveals a price decline. The indicators are also giving a negative outlook. The overall structure of the coin is poor.
Hence, a further price decline is expected in the OP coin in the future.
Technical Levels
- Support Level: $1.05
- Resistance Level: $1.81
Disclaimer
The views and opinions of the author, or anyone named in this article, are for informational purposes only. They do not offer financial, investment, or other advice. Investing or trading crypto assets involves the risk of financial loss.
