Close Menu
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain
  • NFT
  • Metaverse
  • Analysis
  • Learn
  • Blog
  • Contact
    • Tech7685@gmail.com
What's Hot

Solana’s $ 185 target in sight – this is what traders need to know

2025-05-11

Bitcoin Bulls Beware! – This price can be a high -leverage false door

2025-05-11

Map -Protocol reveals revolutionary interoperability between Bitcoin and Solana networks

2025-05-11
Facebook X (Twitter) Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
Facebook X (Twitter) Instagram
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain

    Map -Protocol reveals revolutionary interoperability between Bitcoin and Solana networks

    2025-05-11

    DAC -Platform to redefine Web3 experiences in strategic cooperation with Fishcake Labs

    2025-05-11

    Floki Inu enables Web3 users with a new identity platform

    2025-05-11

    Metis launches Hyperion Testnet with $ 400k rewards and AI Focus

    2025-05-11

    Soonchain integrates into AGNT-HUB to elevate AI-driven web3 gaming

    2025-05-10
  • NFT

    Drink-to-earn? A new sparkling water comes with an NFT and points

    2025-05-08

    Cobie says we will return if someone buys this $ 20 million NFT

    2025-05-08

    Edge Matrix, Colabs Partner to strengthen NFT -Makers

    2025-05-08

    Argentinian football club Partners with StepN to launch digital sneakers

    2025-05-05

    Pudgy Penguins #6873 Leads with Top NFT -sale worth $ 360.2k

    2025-05-04
  • Metaverse

    Shib: The Metaverse – Part of the expanding Shiba Inu ecosystem

    2025-01-03

    Experience to Earn: Everdome’s Metaverse Frontier

    2024-12-30

    Beyond Bots: Meta Motivo and the Dawn of Human Digital Life

    2024-12-13

    Exploring NetVRk: What’s Behind This AI-Powered Virtual Universe?

    2024-10-28

    Council of Europe emphasizes the impact of Metaverse on privacy and democracy

    2024-09-05
  • Analysis

    Standard Chartered Analy supports Bitcoin -Price forecast, now calls $ 120,000 BTC ‘Too Low’: Report

    2025-05-11

    Bullish Continuation for XRP price shows possible recovery up to $ 4

    2025-05-11

    Top US Crypto Exchange Coinbase to acquire Derivativa Platform Deribit

    2025-05-10

    Bitcoin – Price is rising by $ 100k – Bull Market officially back?

    2025-05-10

    JPMorgan Chase warns US shares ‘Not a good place to verbat’ as billionaire Paul Tudor Jones Braces for fresh market Lows

    2025-05-10
  • Learn

    What Is Proof-of-Authority (PoA)?

    2025-05-10

    What Is Proof-of-Stake (PoS)? A Beginner’s Guide

    2025-05-09

    What Is a Layer-1 (L1) Blockchain?

    2025-05-03

    What is a Layer-2 (L2) Blockchain Network Solution?

    2025-05-02

    What Is a Layer-0 Protocol?

    2025-05-02
  • Blog
  • Contact
    • Tech7685@gmail.com
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
Home»Altcoins»Optimism [OP] is up 20% – Are more profits likely?
Altcoins

Optimism [OP] is up 20% – Are more profits likely?

2023-06-22No Comments2 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

Disclaimer: The information presented does not constitute financial, investment, trading or any other advice and is solely the opinion of the author

  • OP posted more than 20% gains in the last 24 hours at the time of writing
  • More short positions were liquidated on the lower and higher time frames

Optimism [OP] is poised to reverse all early June losses if the press trail continues. The native token from the Layer 2 roll-up is up more than 20% in the past 24 hours, from $1.12 to $1.4.


Is your wallet green? look at the ON profit calculator


The revival followed Bitcoins [BTC] surprise entry into the $29,000 zone, despite the delay of the Coinbase and Binance lawsuits. If bullish sentiment continues and BTC holds up, OP could provide additional profit.

Can bulls move forward?

Source: OP/USDT on TradingView

In late May/early June, OP traded sideways within the $1.35 – $1.54 (orange) range. But it crossed the range and slid lower on June 10 after BTC retested $24,000. Then it entered another narrow consolidation range of $1.07 – $1.18 (white).

BTC’s rise to $29,000 tipped OP to trigger a bullish breakout from the narrow range formation. At the time of writing, the price action has retested and broke above the previous low of $1.35.

However, a price rejection was likely from the mid-range $1.44 as the bulls cooled off the rally. A pullback retest at the $1.35 range low could provide new buying opportunities targeting the mid-range ($1.44) and previous range high of $1.54.

A drop below the range low ($1.35) and subsequent close below $1.27 invalidates the bullish thesis. Such a drop could cause sellers to fight for control and likely devalue OP to $1.18.

See also  Bitcoin jumps past $30k on optimism fueled by ETFs

Meanwhile, the Relative Strength Index (RSI) has reached overbought territory. In addition, On-Balance Volume (OBV) registered a sharp spike, indicating extreme buying pressure and demand, respectively.

Short positions are not recommended

Source: Coinglass

The liquidation stat indicated strong bullish sentiment and favored bulls in the futures market. In addition, more than $150,000 in short positions have been destroyed in the four-hour time frame.


How many Worth 1,10,100 VPs today?


Extrapolated to the daily time frame, over $2.4 million in short positions were liquidated, while longs suffered less than $300,000 during the same period. Therefore, the bullish sentiment could continue unless BTC pulls back.

Source link

Optimism profits
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Solana’s $ 185 target in sight – this is what traders need to know

2025-05-11

What is the next step for Bitcoin, XRP, Ethereum and Solana Price?

2025-05-11

Ethereum breaks the most important price level – Has the ETH rally just started?

2025-05-11

Bonk ready for launch like Bulls focuses on long-term SMA-Breakout

2025-05-11
Add A Comment
Leave A Reply Cancel Reply

Top Posts

SEC closes Gemini -Sound after 699 days -Winklevoss: Is the Crypto War transfer?

2025-02-27

Vladimir Putin Supports Bitcoin: Crypto to Challenge the Dominance of the Dollar?

2024-12-05

Songadaymann is suing SEC after using NFTs to sell songs he writes every day

2024-07-31
Editors Picks

Blockchain Association and Texas-based Group Sue SEC Over Rule That ‘Threatens U.S. Industry and Innovation’

2024-04-23

Support at $605 sets the stage for another rally

2024-11-27

Museum in the Metaverse – The Future of History

2023-07-30

Dogecoin (DOGE) Under pressure-the setting of the insight, the sale can cause

2025-04-18
About
About

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, Defi, NFT, Metaverse and more.

We're social. Connect with us:

Facebook X (Twitter) Instagram Pinterest YouTube
Top Insights

Solana’s $ 185 target in sight – this is what traders need to know

Bitcoin Bulls Beware! – This price can be a high -leverage false door

Map -Protocol reveals revolutionary interoperability between Bitcoin and Solana networks

Get Informed

Subscribe to Updates

Get the latest news and Update from Free.cc about Crypto, Metaverse, NFT and more.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
© 2025 Free.cc - All rights reserved. Contact: info@free.cc

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$104,379.220.90%
  • ethereumEthereum(ETH)$2,486.231.75%
  • tetherTether USDt(USDT)$1.000.02%
  • rippleXRP(XRP)$2.36-1.68%
  • binancecoinBNB(BNB)$653.400.15%
  • solanaSolana(SOL)$171.580.12%
  • usd-coinUSDC(USDC)$1.000.01%
  • dogecoinDogecoin(DOGE)$0.2315631.53%
  • cardanoCardano(ADA)$0.80-1.02%
  • tronTRON(TRX)$0.2612960.68%
  • suiSui(SUI)$3.96-0.15%
  • chainlinkChainlink(LINK)$16.651.37%
  • avalanche-2Avalanche(AVAX)$24.49-0.14%
  • stellarStellar(XLM)$0.3057140.59%
  • shiba-inuShiba Inu(SHIB)$0.0000160.70%
  • hedera-hashgraphHedera(HBAR)$0.204898-1.69%
  • the-open-networkToncoin(TON)$3.411.75%
  • bitcoin-cashBitcoin Cash(BCH)$409.14-2.64%
  • hyperliquidHyperliquid(HYPE)$24.12-4.01%
  • polkadotPolkadot(DOT)$5.070.65%
  • unus-sed-leoUNUS SED LEO(LEO)$8.33-3.05%
  • litecoinLitecoin(LTC)$99.98-1.93%
  • piPi(PI)$1.0746.26%
  • moneroMonero(XMR)$330.090.25%
  • pepePepe(PEPE)$0.0000144.22%
  • bitget-tokenBitget Token(BGB)$4.83-0.47%
  • daiDai(DAI)$1.00-0.02%
  • ethena-usdeEthena USDe(USDE)$1.000.00%
  • uniswapUniswap(UNI)$6.841.60%
  • bittensorBittensor(TAO)$447.630.95%
  • nearNEAR Protocol(NEAR)$3.145.44%
  • aptosAptos(APT)$5.872.66%
  • okbOKB(OKB)$55.241.35%
  • aaveAave(AAVE)$217.56-1.88%
  • ondo-financeOndo(ONDO)$1.02-0.46%
  • internet-computerInternet Computer(ICP)$5.683.79%
  • ethereum-classicEthereum Classic(ETC)$19.771.15%
  • kaspaKaspa(KAS)$0.1074092.12%
  • official-trumpOFFICIAL TRUMP(TRUMP)$13.79-2.83%
  • mantleMantle(MNT)$0.814.96%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.2570210.06%
  • gatechain-tokenGateToken(GT)$21.78-1.50%
  • render-tokenRender(RENDER)$5.17-0.08%
  • vechainVeChain(VET)$0.0307490.58%
  • crypto-com-chainCronos(CRO)$0.098840-0.36%
  • ethenaEthena(ENA)$0.4078086.30%
  • arbitrumArbitrum(ARB)$0.4504089.83%
  • usd1World Liberty Financial USD(USD1)$1.00-0.04%
  • filecoinFilecoin(FIL)$3.132.55%
  • algorandAlgorand(ALGO)$0.2405710.83%
  • bitcoinBitcoin(BTC)$104,379.220.90%
  • ethereumEthereum(ETH)$2,486.231.75%
  • tetherTether USDt(USDT)$1.000.02%
  • rippleXRP(XRP)$2.36-1.68%
  • binancecoinBNB(BNB)$653.400.15%
  • solanaSolana(SOL)$171.580.12%
  • usd-coinUSDC(USDC)$1.000.01%
  • dogecoinDogecoin(DOGE)$0.2315631.53%
  • cardanoCardano(ADA)$0.80-1.02%
  • tronTRON(TRX)$0.2612960.68%
  • suiSui(SUI)$3.96-0.15%
  • chainlinkChainlink(LINK)$16.651.37%
  • avalanche-2Avalanche(AVAX)$24.49-0.14%
  • stellarStellar(XLM)$0.3057140.59%
  • shiba-inuShiba Inu(SHIB)$0.0000160.70%
  • hedera-hashgraphHedera(HBAR)$0.204898-1.69%
  • the-open-networkToncoin(TON)$3.411.75%
  • bitcoin-cashBitcoin Cash(BCH)$409.14-2.64%
  • hyperliquidHyperliquid(HYPE)$24.12-4.01%
  • polkadotPolkadot(DOT)$5.070.65%
  • unus-sed-leoUNUS SED LEO(LEO)$8.33-3.05%
  • litecoinLitecoin(LTC)$99.98-1.93%
  • piPi(PI)$1.0746.26%
  • moneroMonero(XMR)$330.090.25%
  • pepePepe(PEPE)$0.0000144.22%
  • bitget-tokenBitget Token(BGB)$4.83-0.47%
  • daiDai(DAI)$1.00-0.02%
  • ethena-usdeEthena USDe(USDE)$1.000.00%
  • uniswapUniswap(UNI)$6.841.60%
  • bittensorBittensor(TAO)$447.630.95%
  • nearNEAR Protocol(NEAR)$3.145.44%
  • aptosAptos(APT)$5.872.66%
  • okbOKB(OKB)$55.241.35%
  • aaveAave(AAVE)$217.56-1.88%
  • ondo-financeOndo(ONDO)$1.02-0.46%
  • internet-computerInternet Computer(ICP)$5.683.79%
  • ethereum-classicEthereum Classic(ETC)$19.771.15%
  • kaspaKaspa(KAS)$0.1074092.12%
  • official-trumpOFFICIAL TRUMP(TRUMP)$13.79-2.83%
  • mantleMantle(MNT)$0.814.96%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.2570210.06%
  • gatechain-tokenGateToken(GT)$21.78-1.50%
  • render-tokenRender(RENDER)$5.17-0.08%
  • vechainVeChain(VET)$0.0307490.58%
  • crypto-com-chainCronos(CRO)$0.098840-0.36%
  • ethenaEthena(ENA)$0.4078086.30%
  • arbitrumArbitrum(ARB)$0.4504089.83%
  • usd1World Liberty Financial USD(USD1)$1.00-0.04%
  • filecoinFilecoin(FIL)$3.132.55%
  • algorandAlgorand(ALGO)$0.2405710.83%