Optimism – Is $0.75 in sight for OP after a 17% spike?

Key Points

1. Optimism (OP) gained over 17% in 24 hours, breaking the $0.60 resistance level, with a Chaikin Money Flow (CMF) reading of +0.16 indicating strong buying pressure.

2. If OP falls back below $0.60, the price could retrace to $0.55, a critical level for determining trend continuation.

3. Transaction volume reached $1.56 billion, but only 4% of holders were in profit, with 94% at a loss.

4. Transaction activity on Binance and Coinbase rose by 84% weekly, yet price action remained sluggish, suggesting inflows haven't stabilized prices.

5. Transacted Optimism coins increased by 20% daily and 70% weekly/monthly, with adoption rate rising to 26% from 13%, supporting long-term holding.