Optimism (OP) is blinking to rise.
Layer-2 project Optimism (OP) may rise with the increase in the number of active addresses and positive indicators.
Crypto analysis platform AMBCrypto stated that OP could record a 70 percent increase in the near future. The analysis touched on resistance levels, the positive atmosphere created by indicators and the increasing activity in the blockchain.
The bullish outlook in the crypto market paved the way for altcoins. The 2 percent decrease in Bitcoin dominance and the rise in TOTAL3 (the market value of cryptocurrencies other than $BTC and $ETH ) increased speculations about the altcoin season.
The analysis platform suggested that OP is one of the altcoins that has recently given a strong upward signal. According to the analysis, the Bollinger Bands formed on the 4-hour chart of $OP have started to indicate an increase. Attention was drawn to the indicator's resistance point at $ 1.85 and support point at $ 1.76.
According to the chart, if the OP price loses the $ 1,764 support, it could fall to $ 1.65. Bollinger Bands could carry the price to $ 2 in a positive breakout.
According to on-chain data, $ 650,000 worth of OP has been withdrawn from spot exchanges in the last two days. AMBCrypto commented on the development as âinvestors are accumulating, indicating that a potential rally is imminent.â
IntoTheBlock reported that the number of new and active addresses on the Optimism blockchain has increased. On September 30, the OP blockchain hosted 1,560 new addresses. The analysis noted the following;
âThe 29.37 percent increase in new addresses over the last seven days reflects the increasing interest in OP. Similarly, the 12.79 percent increase in active addresses indicates that more users are interacting with the network.â
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