American Invest Hub
  • Politics
  • Investing
  • Business
  • Latest News

American Invest Hub

  • Politics
  • Investing
  • Business
  • Latest News
Investing

Optimism price analysis: key levels to watch as OP forms classic reversal pattern

by admin February 6, 2025
February 6, 2025
Optimism price analysis: key levels to watch as OP forms classic reversal pattern

Optimism (OP) displays significant bearishness after losing 25% and nearly 50% in the past week and month.

Furthermore, the charts show OP has formed a head-and-shoulder formation, hinting at impending downward continuation.

OP forms a head-and-shoulders pattern

Optimism’s price performance demonstrates bear dominance, and the emerging head-and-shoulders formation affirms this narrative.

The head forms a visible peak as the shoulders appear symmetrical.

OP trades at the crucial support barrier of $1.12.

Breaching this foothold could catalyze significant dips for the altcoin.

Optimism will likely test the $1.06 mark or even lower price regions.

The distance from the head’s peak to the neckline sets OP’s bearish target at $0.5.

That would mean an approximately 55% slump from the current price.

Technical and on-chain signals indicate weakness

Further analysis adds to Optimism’s bearish trajectory.

The Chaikin Money Flow hovers at the negative territory (-0.08) after plunging from +0.36 in the past 72 hours.

That confirms reduced cash entering the OP ecosystem, reflecting investor distrust in the altcoin’s near-term performance.

The 1D Moving Average Convergence Divergence’s bearish crossover with the signal line confirms the notable selling pressure.

IntoTheBlock’s data magnifies OP’s bearish picture, with all on-chain signals highlighting a downbeat mode.

Firstly, over 91% of OP investors are experiencing losses at current prices of $1.12.

This might intensify selling activities amid continued price dips.

Altcoin will hardly attract new buyers, considering its dwindled profitability.

Source – IntoTheBlock

The 0.87% decline in net network growth highlights reduced network activity and faded interest from new users.

Concentration declined by 0.80%, confirming weakness and notable challenges in flipping the pessimistic on-chain data.

Further, the 2.49% slide in large transactions indicates reduced interactions by whale entities.

OP’s current price action

Optimism trades at $1.12 after gaining 1.54% in the past 24 hours.

Chart by Coinmarketcap

Despite the minor surges, the notable decline in daily trading volume suggests a weak uptrend.

Bulls should hold the reliable support floor at $1.12 to prevent further price dips.

However, all technical, sentiment, and on-chain signals highlight significant downward risks for OP.

The head-and-shoulders formation, reduced cash flows, faded profitability, and bearish on-chain signals point to potential price slumps in the near term.

Nevertheless, broad market movements remain crucial for Optimism’s trajectory in the upcoming sessions.

Cryptocurrencies displayed volatility today amid tariff-triggered economic uncertainties.

Meanwhile, experts remain confident about the market, perceiving the ongoing declines as dip-buying opportunities.

According to Eric Trump, Bitcoin presents a perfect entry-level at current prices.

Sudden bullish rallies in the broad market will mean substantial gains in the overall crypto landscape.

That could see Optimism invalidating the head-and-shoulders bearish setup before exploding to the upside.

Analyst Solberg Invest highlighted a potential surge to $7 for Optimism.

Solberg Invest

@SolbergInvest

·Follow

🚀 $OP (Optimism) macro-bullish—Target $7 next? 📈

10:30 pm · 5 Feb 2025

7

Reply

Read 2 replies

That would mean an over 480% upswing from current levels.

The post Optimism price analysis: key levels to watch as OP forms classic reversal pattern appeared first on Invezz

0
FacebookTwitterGoogle +Pinterest
previous post
ARKK ETF: These Cathie Wood stocks are soaring in 2025
next post
US dollar index (DXY) analysis ahead of the nonfarm payrolls data

Related Posts

Appia Announces Appointment of Mr. Andre Costa as...

April 24, 2024

Cosa Resources Announces Summer Exploration Plans for Athabasca...

May 10, 2024

Appia Announces Maiden Rare Earth Mineral Resource Estimate...

March 5, 2024

DAX index could dive as shares of German...

November 15, 2024

Tesco share price is beating Walmart, Kroger, and...

September 10, 2024

Jasmy price analysis as crypto pro sees a...

November 24, 2024

Tesla Delivers Highly Anticipated Q1 Results, Musk Promises...

April 24, 2024

Brent crude oil price forecast as Trump bombs...

June 22, 2025

Joe Cavatoni: Gold’s Run Not Over, Eastern Markets...

May 9, 2024

Is American Express a good Warren Buffett stock...

January 2, 2025

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest News

    • Europe bulletin: Manchester synagogue attack aftermath, stocks close higher

      October 5, 2025
    • Evening digest: Trump sets deadline for Hamas, Canada’s slowdown, BTC rebounds

      October 5, 2025
    • Iran executes six people for alleged links to Israel, state media reports

      October 5, 2025
    • US digest: Trump’s Hamas ultimatum, government shutdown stalemate continues

      October 5, 2025
    • Japanese stocks may extend record run as Takaichi win revives ‘Abenomics’

      October 5, 2025

    Categories

    • Business (4,191)
    • Investing (2,958)
    • Latest News (2,080)
    • Politics (1,536)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: americaninvesthub.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 americaninvesthub.com | All Rights Reserved