Both moving averages have turned up, and the RSI is in the positive zone, indicating that the bulls are in command. If buyers maintain the momentum and thrust the price above the channel, the pair may rise to $1.12 and later to $1.20.

Contrarily, if the price continues lower and breaks below the 20-EMA, it will suggest that the bears are trying to keep the pair inside the channel. The pair will weaken further if the bears tug the price below the 50-SMA.

Optimism (OP) broke and closed above the 20-day EMA ($1.40) on Sept. 7 and touched the 50-day SMA ($1.47) on Sept. 8.#OptimismTestnet

The RSI has risen near the midpoint, indicating that the bears are losing their grip. Buyers are likely to drive the price above the 50-day SMA and the overhead resistance of $1.65. If they do that, the OP/USDT pair may start a new up move toward $2.50.

Contrary to this assumption, if the price fails to sustain above the 50-day SMA, it will signal that the bears continue to sell on rallies. The pair may slide to $1.22 and then to the solid support at $1.17.

The pair has pulled back to the moving averages, indicating that the bears are posing a strong challenge near $1.50. If the price rebounds off the moving averages, the prospects of a rally above $1.50 will improve. The pair may rally to $1.65 and then to $1.77.

Instead, if the price continues lower and breaks below the moving averages, it will suggest that the bears are selling on every minor rise. The pair could then slide to the uptrend line. A break below the uptrend line may intensify selling and pull the price to $1.20.

🌐 Infura, a Web3 API provider by ConsenSys, announces support for the Optimism testnet on the Ethereum Sepolia testnet. #InfuraSupport #OptimismTestnet 🌐💻📊🚀

The OP Sepolia testnet is scheduled for an upgrade on March 19, 2024, to support the feature-complete version of OP Stack fault proofs. 

 Developers are advised to update  their smart contract logic and withdrawal monitoring services to work with the new DisputeGameFactory contract instead of the existing L2OutputOracle.

Bridges, exchanges and other services using withdrawals will need to update to support looking up withdrawal claims from DisputeGame contracts instead of outputs.

#HotTrends #OPlabs #Optimism #OptimismTestnet

OP Labs has released fault proofs on the OP Mainnet, a Layer 2 blockchain, achieving a stage 1 rollup in decentralization.

The fault proof system enables secure and trustless withdrawals of ether and ERC-20 tokens, allowing users to verify and correct invalid transactions.

#Optimism $OP #OPlabs #TopCoinsJune2024 #OptimismTestnet #OPMainnet