1
This Optimism price Analysis demonstrates the bears’ dominance in the price over the bulls.
2
OP sellers are aggressive in the previous trading sessions, pulling the price down.
3
The price is halted near the value of $4.175 and resuming the bearish momentum.
Optimism price analysis shows the bear’s dominance on the daily time frame technical chart. The sellers are consistently making short positions to pull the price down. The price halted near the value of $4.175 and resumed the downward momentum on the daily chart.
OP crypto’s price breaks below the key moving averages of 20 and 50 EMA levels. However, in the recent trading sessions, it took a bounce from the 100 EMA level and tried to surpass the 50 EMA level but failed as sellers pulled the price down.
Moreover, if the OP price wants to surpass the upper resistance levels, it needs an influx of buyers to maintain the buying momentum above the key moving averages.
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