OP, the native token of Optimism, broke out of an uptrend after setting a new all-time high of $4.87. The price has continued to drop since then, and currently points to a continuous downward drop.
Analysis of the crypto asset’s trend indicates that the price is on a downtrend which is currently trading below the 100-day Moving Average (MA) and the trend line. However, at the time of writing, Optimism was trading at around $2.9 and was up by about 1.22%.
As a result of this change in trend, two major resistance levels were formed at $4.87 and $4.04, and a support level of $2.95. But currently, the price has broken past this support level.
Technical Indicators Point Toward A Continuous Downtrend For Optimism
When analyzing OP’s price movement using the daily candlestick timeframe, we can see that after a drop from its all-time high, the token was unable to bounce back. This has led to the price trading below both the trendline and the 100-day moving average as can be
We współpracy z: https://bitcoinist.com/optimism-continues-downward-spiral-brace-for-impact/
