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- The trading price of the OP crypto has increased by 5.4% in the last 24 hours.
- Optimism’s crypto price is only 13% below its all-time high price.
Optimism (OP) is a layer-two platform on Ethereum that uses optimistic rollups to scale and speed up dApps. OP was created by a US-based team of blockchain experts and it was launched in 2021. OP supports various dApps on its network.
Optimism crypto’s current market cap value is $3.453 Billion, which has increased by 73% in the last 30 days. The volume/market cap ratio of the crypto is 15.94% and the trading volume has increased by 84.9% in the last 24 hours.
The derivatives traded volume for the crypto has also increased by 85.2% while the open interest has risen by 16.87%, resulting in a value of $251.97 Million. The market cap dominance of the OP crypto is 0.192%.
The long/short ratio of the Optimism crypto is 0.9689. The long liquidation for the crypto is slightly higher, resulting in a value of $1.99 Million while the short liquidation for is $1.26 Million.
Optimism Blockchain Data Overview
The circulating supply of Optimism is 957.378 Million OP. which is 22.29% of the max supply of the crypto. Moreover, the recorded inflow value of Optimism is $1.88 Million and the revenue for the crypto is $46.7K in the last 24 hours.
Additionally, the fees of the crypto recorded in the last 24 hours, as per DefiLlama, is $126.06K. The total supply of the Optimism token is 4.294Billion OP and the fully diluted market cap is $15.357 Billion.
OP Crypto Technical Analysis
The OP crypto price is forming higher highs on the charts and it has broken above a very crucial resistance level. The price of the crypto is currently taking support at the breakout zones and is forming a bullish chart pattern.
If the price of the OP crypto continues with buying momentum and breaks above the previous swing high, we might get to see higher levels in the price and also some new all-time highs.
OP/USD Chart by TradingView
The OP crypto price is witnessing a sell-off from the higher levels after hitting the higher band of the Bollinger band. The price is currently taking support at the median line and the lower band of the Bollinger Band.
The 50-day and the 200-day EMAs are forming a golden cross pattern on the charts and the price of the OP crypto is also above the EMAs.
The MACD indicator is also giving a buy signal as the signal line and the MACD lines are situated above the zero level. Despite this, the lines are forming a bearish cross, indicating the possibility of retracement in the price.
Conclusion
Optimism is a layer-two platform on Ethereum that scales and speeds up dApps. The price of OP has risen by 5.4% and is near its all-time high. OP has a high market cap, volume, and inflow. OP is currently bullish and could break new highs in the upcoming days.
Technical Levels
Support Levels: $2.0200 and $2.900
Resistance levels: $4.1800 and $5.400
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
