Crypto Market Optimism: Can Optimism (OP) Break $0.72?

Jakarta, Pintu News – Optimism (OP) has shown increased speculative activity lately, with strong buying support in the past two days. Despite the increase, there is no guarantee that OP will manage to break the $0.72-$0.74 resistance in the near future.

Recent Market Dynamics Optimism (OP)

On June 6, Optimism (OP) tested the $0.59 support level and has since seen a rise of around 20%. Although the bullish structure on the daily chart has broken, it is still uncertain whether OP will reach the top of the price range. Liquidity at $0.74 will be key in the next few hours, which could determine the next direction of OP’s price.

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Technical Analysis and Trading Opportunities

The daily chart shows the formation of a range between $0.59 and $0.84 with a clear bullish structure (marked in cyan color). If the mid-range resistance can be turned into support, it will provide a buying opportunity for swing traders targeting the top of the range at $0.84. However, the current bullish momentum looks less impressive with the Money Flow Index (MFI) showing only 44 without any significant divergence.

Volume and Market Sentiment

The On-Balance Volume (OBV) shows sideways movement since mid-May, reflecting the balance between buying and selling pressure that explains the price range formation. This also indicates that market participants should not expect a breakout above $0.84 anytime soon. However, the one-month liquidation map shows that there has been liquidity gathering around $0.72, which has been cleared in recent days.

Bitcoin (BTC) Price and Impact Projections

If Bitcoin (BTC) manages to break $110,000 and continues to rise, OP may move towards the $0.85 magnetic zone next. The $22 million increase in open interest recorded on Coinalyze suggests increased speculative activity that could push OP past local resistance. Although funding levels are yet to show strong bullish sentiment, the changes in the last 48 hours could be the beginning of market optimism.

Conclusion: Market Expectations of Optimism (OP)

Despite some challenges, the current market structure and increased speculative activity give market participants hope that OPs could exceed current expectations. However, it is important to remain vigilant for changes in market conditions that could affect these price projections.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• AMB Crypto. Optimism: Examining if OP can surpass $0.72 and race to…. Accessed on June 12, 2025
• Featured Image: CryptoSlate