Optimism (OP) Price Prediction: OP/USD Price Has Increased 6.48% Over the Past 24 Hours to $1.6

Optimism's OP/USD price has increased 6.48% over the past 24 hours to $1.6. Over the past week, OP has experienced an uptick of over 17.0%

Optimism (OP/USD) Price Analysis: KeyTakeaways for August 11

Optimism’s price has seen a rise of 6.48% in the past 24 hours, bringing the coin’s price to $1.6. Over the past week, OP has seen an increase of over 17.0%, moving from $1.36 to its current price.

At the time of writing, Optimism is ranked 47th in the market with a cap of $1.90 billion, according to data from CoinGecko. The coin's all-time high is $4.84.

The chart below compares the price movement and volatility for Optimism over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.

Optimism’s price action over the past 24 hours has seen a high of $1.64 and a low of $1.48, while the coin’s price has seen a high of $1.64 and a low of $1.33 over the past week, respectively.

The coin’s price is currently sitting above both the Bollinger Bands over the past 24 hours and the past week. This indicates that the coin’s price is experiencing high volatility at the moment.

Relative Strength Index (RSI) and Moving Averages (MAs)

The RSI for Optimism is currently at 66.13, indicating that the coin’s price is currently in the overbought territory. This could indicate that the coin’s price is due for a correction in the coming hours or days.

On the other hand, Optimism’s price is currently trading above both the 50-day moving average (MA) at $1.38 and the 200-day moving average (MA) at $1.18, which is a bullish indicator for the coin’s price in the long term.

The Fib levels for Optimism, on the other hand, show that the coin’s price is currently sitting on the 23.6% Fib level of $1.60, which could indicate that the coin’s price is due for a retracement in the coming hours or days.

Overall, Optimism’s price is currently experiencing high volatility, with the coin’s price sitting above both the 50-day and 200-day moving averages (MAs). The coin’s price is also in the overbought territory, which could indicate that the coin’s price is due for a correction in the coming hours or days.

This article was generated by Benzinga's automated content engine and reviewed by an editor.