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.
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