Search Inside Bitcoins

Optimism Price Prediction for Today, February 8 – OP/USD Technical Analysis

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

Optimism Price Prediction for Today, February 8 - OP/USD Technical Analysis
Optimism Price Prediction for Today, February 8 - OP/USD Technical Analysis

Join Our Telegram channel to stay up to date on breaking news coverage

The Optimism price prediction reveals that the OP price remains above the 9-day and 21-day moving averages to continue the bullish movement.

Optimism Price Could Drop 25%

The price of Optimism has experienced significant volatility during the unlocks event, surging 94% over the past week and nearly 25% in the last day alone. This behavior aligns with the “buy-the-rumor” narrative, suggesting that a “sell-the-news” scenario might be unfolding.

Optimism Prediction Statistics Data:

  • Optimism price now – $3.43
  • Optimism market cap – $3.1 billion
  • Optimism circulating supply – 957.3 billion
  • Optimism total supply – 4.2 billion
  • Optimism Coinmarketcap ranking – #26

OP/USD Market

Key Levels:

Resistance levels: $5.0, $5.5, $6.0

Support levels: $2.0, $1.5, $1.0

Optimism Price Prediction for Today, February 8 - OP/USD Technical Analysis
OPUSD – Daily Chart

OP/USD is currently exchanging hands at $3.43 as the coin consolidates within the channel. The OP price is heading toward the upper boundary of the channel. However, Optimism will have to focus on the bullish movement to guide against the downward pressure while the closest support expects the coin at $2.0, which could be the daily low.

Optimism Price Prediction: The Optimism May Move Upward

The Optimism price stays above the 9-day and 21-day moving averages because any bearish movement to the south may bring the coin to the support levels of $2.0, $1.5, and $1.0. However, OP/USD is trading at $3.43 and still trading above the moving averages. On the upside, a sustained move toward the upper boundary of the channel could create more strength for the bulls with the focus on moving the market to the next resistance levels of $5.0, $5.5, and $6.0 respectively.

At the moment, the 9-day moving average is likely to cross above the 21-day moving average, which indicates that the market may face the upside. Looking at the daily chart, there may be a need for support to be formed around $3.2 to provide tight protection which could allow the buyers to concentrate on stirring action to the north.

OP/BTC Consolidates Above the Moving Averages

Against Bitcoin, the Optimism price is hovering above the 9-day and 21-day moving averages as the sellers aim to bring the price to the downside which could fall toward the lower boundary of the channel, while the 9-day MA remains below the 21-day MA.

Optimism Price Prediction for Today, February 8 - OP/USD Technical Analysis
OPBTC – Daily Chart

However, if the bulls succeeded in breaking toward the upper boundary of the channel, the OP price may likely hit the potential resistance level at 1000 SAT and above. On the contrary, any bearish movement below the lower boundary of the channel could bring the price to the support level of 500 SAT and below.

On his X account, Crypto Rover shared with his 670k followers that Optimism (OP) ranks among his top #Altcoin holdings. He believes they currently sit at a solid support level poised for further upward movement. Should a breakdown occur, he notes the next support level at $1.9. However, @rovercrc is optimistic about Optimism’s potential, foreseeing a 30x increase in the next bull run from its current position.

Optimism Alternatives

The Optimism (OP) price is approaching the upper boundary of the channel, signaling potential bullish momentum. However, traders anticipate a bullish continuation if the trend persists. Meanwhile, the 9-day moving average nearing a crossover above the 21-day moving average indicates the emergence of another resistance level.

Despite the Optimism (OP) established position as the 26th-ranked cryptocurrency with a market cap of $3.1 billion, the up-and-coming Bitcoin Minetrix ($BTCMTX) token, with over $10.5 million in its presale stage, presents investors with a promising growth opportunity. Opting for $BTCMTX investment could lead to higher returns given its early-stage growth trajectory.

$10M Milestone Reached: Bitcoin Minetrix ICO Emerges as Top Contender for 10X Growth!

Investors, seize the opportunity with the Bitcoin Minetrix ($BTCMTX) token! With a staggering $10.5 million raised during its presale phase, $BTCMTX presents a lucrative avenue for growth. Investing in $BTCMTX now could pave the way for significant returns, riding on its promising early-stage trajectory. Don’t miss out on the chance to be part of this dynamic journey towards financial success!

You can benefit from Bitcoin Minetrix today.

Related News

New Crypto Mining Platform - Bitcoin Minetrix

Rating

Bitcoin Minetrix
  • Audited By Coinsult
  • Decentralized, Secure Cloud Mining
  • Earn Free Bitcoin Daily
  • Native Token On Presale Now - BTCMTX
  • Staking Rewards - Over 50% APY
Bitcoin Minetrix

Join Our Telegram channel to stay up to date on breaking news coverage

Read next

Don't see the answer that you're looking for?

Ask us Now!