- The Optimus AI coin price surged 145.44% over the past month.
- After following the uptrend, the OPTI coin price got stuck in a consolidation.
- The OPTI token price closed at $0.2070, with a loss of 3.46% in the last 24 hours.
The Optimus AI (OPTI/USDT) coin price exhibited a hike of 250% over the past 13 days while experiencing an uptrend. The price has constantly formed higher highs and lows from the initial low of $0.070. The buyer-oriented trading volume has increased by an average of 600K and formed a resistance level at $0.263.
After holding the upper threshold of $0.263, the price has been trading in a range-bound pattern. It created difficulty in pushing the price further above it. The market is currently stressed out as the bulls are facing challenges from the bearish side. However, bears have not succeeded in breaking any support level.
Currently, the price is hovering near the $0.220 level, with the current coin price of $0.2070 at the time of writing. Optimus AI has witnessed a decrease of 3.46% in the last 24 hours, with a 24-hour trading volume of $292,022. It has a circulating supply of 95.03 Million OPTI coins and a market capitalization of $20.51 Million.
Overall, the current market scenario represents a stronghold of bulls. It triggered positive sentiment despite the range-bound pattern. However, if the OPTI coin price succeeds in breaking out from this range-bound pattern, it could surge above the $0.350 mark. On the contrary, if the bears take over and break below $0.160, the price might retest the $0.072 support level.
Will The Uptrend Sustain?
On the 1-day chart, the OPTI/USDT token has been trading in a tight range as bulls attempt to reclaim the high of $0.263. The OPTI coin price is hovering above the 20, 50, 100, and 200-day EMAs. It suggests an uptrend momentum in the price and stronghold of bulls.
The Relative Strength Index (RSI) is trending near the overbought zone and is at 64.64. It shows complete control of buyers in the market. However, the RSI recently slipped down from the overbought zone, which was caused by Thursday’s bearish candle.
The Chaikin Money Flow (CMF) has been trading above the 0 mark since October 22, 2023. It is currently at 0.29, which denotes bullish dominance despite the price facing a range-bound pattern.
Conclusion
The market structure and price action of Optimus AI (OPTI/USDT) token price suggest a rise in the participation of buyers. It has surged about 250% in the past 13 days while following the uptrend. Currently, the OPTI token price is trading in a range-bound pattern near its recent high of $0.263.
The current market scenario represents that the bulls are attempting to reclaim above this level but need to gain more momentum. If the bears snatched the control and pushed below the support of $0.160, the Optimus AI coin could experience further downside pressure.
Technical Levels
Major resistance: $0.260 and $0.570
Major support: $0.015 and $0.072
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.