Optimism (OP) Price Shows Strong Uptrend, Eyes $3 Resistance
Optimistic (OP) price surged 43.40% in the past 7 days, showing strong bullish momentum in the market. The uptrend is supported by rising trend strength, with the ADX confirming the growth momentum and the EMA lines showing a bullish pattern.
Despite the rebound, the downward trend in daily active addresses points to caution as it could indicate reduced network activity and potential pressure on OP price. Whether OP can sustain this momentum to test resistance at $3 or face a deeper correction depends on the strength of buyer interest in the coming days.
OP’s current upward trend is strong
optimism ADX is currently at 28.7, a sharp surge from below 15 a day ago. A sharp increase in ADX indicates that the strength of OP’s current trend is rapidly increasing, indicating that the momentum behind the price action is increasing.
ADX measures trend strength, with values above 25 indicating a strong trend and values below 20 indicating a weak or non-existent trend. OP’s ADX is at 28.7, confirming that its uptrend is gaining traction, and if this strength continues, further upward momentum may be maintained.
The positive index (D+) is 38.8 and the negative index (D-) is 9.37, indicating that bullish pressure far outweighs bearish activity. The wide gap between D+ and D- reflects strong buyer dominance, reinforcing the uptrend.
The combination of rising ADX and higher D+ suggests that OP’s price is likely to continue climbing as long as market conditions remain favorable and buying pressure persists.
OP’s daily active address brings important signals
OP As of November 21, the seven-day moving average of daily active addresses was 14,200.
This indicator reflects the number of unique wallet Interactions with the network, indicating continued strong activity but down from the annual peak of 26,300 on October 13.
Daily active addresses are an important metric because they provide insight into network usage and overall demand. A downward trend in this metric may indicate waning interest or reduced activity on the network, which may translate into lower OP’s buying pressure.
If the trend continues downward, it could put downward pressure on stocks Offer As market enthusiasm fades. However, a reversal in this indicator could reignite bullish sentiment and support future price growth.
Optimistic Price Forecast: Can OP hit $3 in November?
if optimistic price If the uptrend is maintained, a test of the next resistance at $2.55 and possibly even $3.04 is possible. A break above $3.04 could be Offer Challenging the highest price since April at $3.41.
This bullish scenario is supported by the EMA lines, which show a favorable setup, with the short-term line above the long-term one, indicating strong momentum.
However, if the trend reverses, Offer There may be significant downward pressure, with the next support levels at $1.82 and $1.53.
Failure to hold these levels could see the price fall further to $1.06, which would represent a massive correction of 51%.
Disclaimer
conform to trust project Guide, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to providing accurate and unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult a professional before making any financial decisions. Please note that our terms and Conditions, privacy policyand Disclaimer Updated.
