#Optimism (OP) has fallen into the red during the ongoing session as it stalled on Wednesday after failing to push above the resistance at $1.80. OP registered a significant drop on Friday, falling almost 8% to slip below the 20 and 50-day SMAs and key support levels and settle at $1.55. Buyers attempted a recovery on Saturday but could only push the price up marginally. However, the recovery gathered pace on Sunday as OP rose over 2% and settled at $1.59. OP faced considerable selling pressure on Monday, falling to an intra-day low of $1.53. Despite the selling pressure, it recovered thanks to strong lower-level demand and registered an increase of 1.52% to go above $1.60 and settle at $1.61.
Bullish sentiment increased substantially on Tuesday as OP surged past the 20 and 50-day SMAs after an increase of almost 5% and settled at $1.69. OP reached an intra-day high of $1.79 as buyers attempted to push above $1.80. However, buyers lost momentum thanks to strong resistance at upper levels. As a result, OP fell back and settled at $1.71, eventually registering an increase of 1.20%. The current session sees OP back in the red, with the price down almost 3% as buyers struggle to keep it above the 50-day SMA.
