OP Market Basks in Bullish Hegemony; Indicators Predict Further Gains
- As a consequence of bullish control, the price of Optimism rises by more than 13%.
- During the rally, the OP market finds support around $2.71.
- Overbought levels on the Stochastic RSI serve as a warning to traders.
Market bulls have steadily pushed Optimism (OP) higher today, pushing the price from a low of $2.71 to a high of $3.14 (a new 7-day high). The new partnership with Coinbase has been credited for boosting investor trust in the token, contributing to the price hike. With the OP price at $3.13, an 13.66% rise as of press time, the bulls have taken advantage of the market and are clearly in power.
Traders’ optimism for a long-term bull run remains strong as momentum has favored the bulls, prompting more buyers to flock in and join the rally. Consequently, the market capitalization and 24-hour trading volume increased by 11.81% and 71.39%, to $724,673,836 and $928,525,048, respectively. With the bullish trend showing no signs of waning, the bulls are still firmly in charge of the OP market.
The True Strength Index (TSI) on the OP 4-hour price chart is moving in the positive area with a value of 25…
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