A widely followed cryptocurrency analyst and trader is turning bullish on one Ethereum (ETH) layer-2 project.
The analyst pseudonymously known as Credible Crypto tells his 379,100 followers on the social media platform X that Optimism (OP) is now in the midst of price discovery and could move much higher.
Price discovery is a term used to describe the situation when a coin trades at levels never seen before in its history.
“Just took a position in OP. We are at record highs but also technically in price discovery which means if we can hold this breakout things may accelerate quickly. Also, some fundamental catalysts approaching to support.”
Source: Credible Crypto/X
Looking at his chart, the trader suggests that OP will remain in a bullish uptrend as long as it can hold the $4.40 level as support. He believes the next key level to the upside is $4.97.
Optimism is trading for $4.45 at time of writing, down nearly 3% in the last 24 hours. Optimism reached a new all
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