Large OP price forecast is $1.45 to $2.19. Optimism (OP) stock may also fall $1.2 soon. The bearish OP price for 2022 is $0.649. In Optimism (OP) price forecast 2022, we use statistics, price patterns, RSI, RVOL and other OP information to analyze the future movements of cryptocurrency.
Hope (OP) Current Market Conditions
According to CoinGecko, the price of Optimism (OP) is $0.918 with a 24-hour trading volume of $99,755,365 at the time of writing. However, OP has dropped almost 11.03% in the last 24 hours. In addition, Optimism (OP) has a distribution of 234,748,364 OPs. Currently, Optimism (OP) trades on cryptocurrency exchanges such as Binance, OKX, BingX, MEXC, and Bittrue.
What is Optimism (OP)?
Optimism (OP) is a double blockchain on top of Ethereum. Security benefits from the security of the main Ethereum network and helps in expanding the Ethereum ecosystem through the use of blockchain. It is one of the largest solutions for Ethereum with more than $300 million in TVL. The Optimism Foundation is run by the Optimism Foundation, a non-profit organization dedicated to growing an environment of optimism. Also, it looks for the minimum number of moving parts when creating two solutions for Ethereum.
Outlook (OP) Price Forecast 2022
Optimism (OP) is currently ranked 137th on CoinGecko. The OP 2022 price forecast is explained below on a daily basis. The above chart of optimism (OP) shows an ascending triangle pattern. An ascending triangle is a characteristic of a continuous uptrend. This triangle is formed by a horizontal line that connects the top and the bottom line that connects the bottom to the top. If the trend is broken at the stop level, the price will continue to rise in this ascending triangle pattern. Currently, Optimism (OP) is in the range of $0.918. If the trend continues, the OP price can reach the stoppage level of $1.420 and $2.274. If the trend returns, the OP price may fall to $0.643.
Support and Resistance Levels of Optimism (OP)
The chart below shows the support level and the optimistic stop (OP). From the daily schedule above, we can clearly define these as a stop and support for optimism (OP).
These charts show that Optimism (OP) has developed over the past month. If this trend continues, OP may follow the bulls above its stop at $2.198.
As a result, if investors turn against crypto, the price of optimism (OP) may fall near $0.649, a bearish signal.
Observation (OP) Price Forecast 2022 – RVOL, MA & RSI
The relative volume (RVOL) of optimism (OP) is shown in the table below. It is an indicator of how the current trading volume has changed over time compared to the previous trading volume. Currently, OP’s RVOL is trading below the decline line, indicating weak participants in the current trend.
Also, moving average (MA) of optimism (OP) is shown in the chart above. Obviously, the Optimism Price (OP) trades above the 50 MA (short term), so it is in the upside. Now, the OP has entered a bearish position. Therefore, OP changes can be made at any time.
Currently, PO’s Relative Strength Index (RSI) is 43.64. This means that the OP (OP) is not in an over or over market. However, this means that large changes in OP prices may occur in the coming days. Therefore, customers should shop with caution.
Observation (OP) Price Forecast 2022 – ADX, RVI
Now, let’s look at the average direction indicator (ADX) of optimism (OP). It helps to measure the overall strength of the behavior. The indicator is the average of the values of the spread price range. This strategy attempts to measure the strength of price movements in positive and negative directions using the DMI and ADX indicators.
The chart above represents the ADX of Optimism (OP). Currently, the ADX OP is in the range of 20.918 and therefore indicates a weak trend.
The chart above also shows the Relative Volatility Index (RVI) of Optimism (OP). The RVI measures the constant rate of price change over time. The RVI of OP is below 50, indicating low volatility. In fact, the Optimism (OP) RSI at 43.64 supports a sell signal.
Comparison of OP and BTC, ETH
The chart below shows the price comparison between Bitcoin (BTC), Ethereum (ETH) and Optimism (OP). From the chart above, one can tell that ETH, BTC and OP are moving in a similar fashion. This shows that when the price of BTC increases or decreases, the price of ETH and OP increases or decreases respectively.