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Home»Altcoins»OP declines bearish sentiments persist
Altcoins

OP declines bearish sentiments persist

2025-01-22No Comments3 Mins Read
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  • Optimism has decreased by 8.67% in the past 24 hours.
  • OP faced strong downward pressure, although analysts expect a recovery after the dip.

Since we hit $2.7 a month ago, Optimism [OP] has seen a continued decline. At the time of writing, Optimism was trading at $1.67.

This marked a decline of 8.67% on the daily charts. The price has also fallen on the weekly and monthly charts, by 4.29% and 5.28% respectively.

This continued decline has created equal amounts of pessimism and optimism among market participants. As such, two important questions arise; Could we see a recovery, or will the downward trend continue?

What OP’s graphs suggest

According to AMBCrypto’s analysis, optimism experienced strong downward momentum, with sellers in control.

Source: TradingView

For starters, this downward pressure can be observed via the recent bearish crossovers on Stoch RSI and RVGI.

OP has made a bearish crossover on its Stoch, indicating that downside momentum is strengthening while upside momentum is weakening.

This is further confirmed by a new crossover on the Relative Vigor Index (RVGI). With a bearish crossover developing here, it implies that the altcoin is making more losses than gains.

Source: IntoTheBlock

Looking further, Optimism’s active addresses have seen a sharp decline.

This shows that users disappear within the network. Such behavior reflects the negative sentiment as the market lacks new users, further reducing the adoption rate.

Source: Santiment

This is further evidenced by the fact that the altcoin’s Adjusted Price DAA Divergence has turned negative. When this turns negative, it implies low network activity and a low adoption rate.

Source: IntoTheBlock

Finally, Total Netflows has increased and turned positive in recent days. When net flows become positive, it means more traders are transferring their assets to exchanges.

See also  'Dogeday' party picks up steam on ETF Buzz

This could lead to selling pressure, which could drive prices down further.

Is a return to optimism on the horizon?

While optimism is experiencing strong downward pressure, some analysts see a potential recovery.

As such, Ali Martinez suggested a possible rebound to $3.50. If this happens, it could mean the OP has hit a local low.

Source:


Read Optimism [OP] Price forecast 2025–2026


However, in the short term, Optimism still faces enormous selling pressure and bearish sentiment.

Therefore, based on the prevailing market conditions, OP could drop to $1.58. Conversely, if a rebound occurs, the altcoin will attempt to regain $1.83.

Next: Arbitrum: Analyzing ARB’s Chances of a 46% Rally

Source link

Bearish declines persist sentiments
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