Investors' confidence in Optimism (OP) is soaring as the altcoin rebounds in recent days. The surge in active addresses by over 30% in the last 24 hours indicates heightened participation among OP holders.
Price vs. Daily Active Address (DAA) Discrepancy Reveals Market's Potential Valuation Gap
Price-Daily Active Addresses (DAA) Divergence, a crucial indicator, shows a contrasting trend between a cryptocurrency's price and its daily active addresses. With Optimism (OP), as the price decreases and investor activity increases, a buy signal emerges. This divergence underscores potential discrepancies between market valuation and actual network usage.
Optimism Price Analysis: Significant Upside Potential of 26% Expected Upon Breaking the $3.99 Resistance Level
Optimism's current price stands at $3.72, striving to surpass the $3.99 resistance. Breaching this level could propel OP towards $4.69, marking a notable 26% surge. Both the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) suggest a bullish outlook, further supporting the anticipated rally.
Optimism (OP) Price Forecast: Facing Downside Risk of a Retreat to $3.42 if 4.00 Dollar Resistance is not Breached
Should Optimism (OP) fail to breach the $4.00 resistance, a downturn to $3.42 is conceivable, jeopardizing the bullish trajectory. A further decline could push the altcoin below $3.00, invalidating optimistic forecasts.