The head-and-shoulders pattern indicates a bearish outlook for Optimism [OP]. Current price trades at roughly 1.16 USD, with analysts cautioning against potential drops below 0.30 USD.
The breakdown of the critical support level at 1.40 USD raises alarms, directing attention to new support levels of 0.70 USD, 0.50 USD, 0.38 USD, and the significant threshold at 0.30 USD.
Market data indicates reduced user engagement, with active addresses down by 19.56%. Coupled with diminishing large trades, the overall sentiment is under pressure, prompting traders to closely monitor OP’s price action.
Leave a Reply