Positive Signals for Optimism (OP) Price: Could a 26% Rally Be Ahead?
Optimism (OP) is showing promising signs for potential growth as market cues and investor behavior suggest a buy signal. The question now is whether OP will generate greater profits than it has so far this year or face a setback.
Investor optimism in OP is high, as seen in the recent surge in participation from OP holders. The number of active addresses has increased by over 30% in the last 24 hours, indicating growing activity on the network.
This increased activity, combined with a decline in price, suggests a buy signal for Optimism. The price-daily active addresses (DAA) divergence shows that OP is a good asset to accumulate at the current moment.
If more Optimism holders add OP to their wallets, it could potentially lead to a surge in price.
As for OP’s price prediction, it is currently trading at $3.72, with resistance at $3.99. If OP manages to break this resistance, it could reclaim $4.00 as a support floor and rise towards $4.69, marking a new year-to-date high and a 26% rally.
Both the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) indicators suggest potential bullishness. RSI measures price momentum, while MACD is a trend-following indicator that signals potential buy/sell opportunities.
Currently, both indicators are on the verge of a bullish reversal, supporting the anticipated 26% rally.
However, if OP fails to break through the $4.00 mark, the price could decline to $3.42, pushing the altcoin below $3.00 and invalidating the bullish thesis.