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Optimism is growing more than 10% in 24 hours and the price is over $1.00. If the bulls can sustain the price momentum, we may see optimism rise to $1.40 in the coming weeks. Will optimism continue to grow?
Forecasts of the value of optimism for the year 2022
Optimism (OP) has posted lower-than-expected lows over the past few weeks and generated some interesting bullish momentum. In October alone, the price of the cryptocurrency dropped to $0.61 while today the price is around $1.04.
If the price action maintains the momentum, we could see optimism rising to around $1.42 over the next few weeks, which is the next major resistance level.
The above chart reflects where optimism (OP) is now, i.e. within a crossover that may soon allow a retest of $1.42.
However, it should be noted that this bullish momentum has pushed the RSI into the overbought territory which could lead to a correction in the near term.
Focusing on the price chart, we notice that the price of optimism is starting to draw a possible bullish flag. This pattern usually extends upwards and reflects the action of traders who bet on a possible continuation of price growth.
A technical target that could indicate the possibility of a breakout raises the flagpole in this pattern and could push optimism prices higher by 7.28% to around $1.13.
Optimistic video analytics
Best Encryption Alternatives to Optimism for 2022?
According to Coinmarketcap, Optimism has a market capitalization of $245 million and there are 234,748,364 POs outstanding.
A cryptocurrency like Optimism that has not yet experienced the euphoria associated with a bull market cycle or has a chance to grow within a bull market can hope for a surprise hit between 2025-2030.
But as far as the remainder of 2022 and early next year is concerned, the upside prospects remain somewhat limited.
The best thing to do with cryptocurrencies right now is pay attention to what most traders are interested in: the pre-sale.
Some pre-sales can provide up to 10 times more revenue, even during a market downturn. In fact, it allows you to become the first investors and take advantage of lower prices before the cryptocurrency is listed on centralized or decentralized exchanges.
For now, some of my favorite pre-market products are still Dash 2 Trade, Calvaria, and IMPT.
Each offers interesting development opportunities in terms of tokens and has interesting utility projects. All items that indicate growth on the order of 10x and beyond, once directly.