Optimism (OP) price may drop under $2 shortly

Grafa
05-16

Full story: https://grafa.com/news/optimism--op--price-may-drop-under--2-shortly-222538

Optimism's (CRYPTO:OP) price struggles below its mid-April uptrend line, lacking support from both the broader market and Bitcoin.

The altcoin exhibits a negative correlation with Bitcoin, hindering its recovery even as Bitcoin (CRYPTO:BTC) rallies.

Bearish signals intensify as the Moving Average Convergence Divergence (MACD) indicator suggests further decline, potentially pushing OP below $2.0.

Failure to establish a golden cross and the inability to surpass key support levels at $2.33 and $2.11 reinforce the bearish sentiment.

However, a bounce-back could see OP reclaiming $2.50 as support and targeting $2.82, negating the bearish scenario.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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