Optimism Price Fails To Breach Its Important Resistance Level

Despite recording a jump of approximately 4% in the past day, the OP price has dropped 1.39% over the past week and 14.59% during the past month. Further, it has recorded a Year-to-Date (YTD) return of -59.93%. This indicates a long-term bearish sentiment in the crypto space.

The Relative Strength Index (RSI) continues hovering close to its mid-point in the 1D time frame. Conversely, the EMA 50-day acts as a resistance. This highlights a mixed price sentiment for the altcoin in the cryptocurrency market.

If the market regains momentum, the OP price will head toward its upper resistance level of $2.025 during the upcoming weeks. On the flip side, if the bulls fail to gain power, the Optimism price will retest its low of $1.060. $OP