**Optimism Faces Bearish Sentiment Amid Market Downturn**

Optimism (OP) has experienced a significant decline, losing 3.24% against the US Dollar in the past 24 hours. The cryptocurrency also underperformed against Bitcoin (BTC) and Ethereum (ETH), with respective losses of 2.97% and 3.04%. Currently trading at $1.67, OP is 23.77% below its predicted price of $2.19 for October 25, 2024.

Despite a 0.57% gain over the last month and a 36.04% increase over the past year, the medium-term trend remains bearish. The Fear & Greed index shows a reading of 73 (Greed), indicating potential overvaluation. Technical indicators predominantly signal a bearish forecast, with 70% favoring a negative outlook.

Investors should exercise caution, as the market sentiment and key support and resistance levels suggest continued volatility.