Optimism (OP) Price Sees Potential Upside Amid Upbit Listing and Key Resistance Test
Main Idea
Optimism (OP) price surged over 13% following its upcoming listing on Upbit, South Korea's largest crypto exchange, with strong volume and bullish sentiment driving it toward the $0.85 resistance level.
Key Points
1. OP's price rally is driven by its listing on Upbit, enabling trading pairs with KRW, BTC, and USDT.
2. The announcement triggered a 460% surge in trading volume, pushing OP to a two-month high near $0.828.
3. A breakout above the $0.85 resistance could lead to a 40% gain, targeting $1.20, while failure to break may result in a pullback.
4. Derivatives data shows strong bullish sentiment, with Open Interest rising 38% to $310 million and a Long/Short Ratio of 2.06 on Binance.
5. The Chaikin Money Flow reading of +0.10 indicates strong capital inflow supporting the price surge.
Description
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