Technical signals now hint at a potential bullish reversal if the token can reclaim key resistance levels in the coming sessions.
In a recent post by Finora – Your AI Trade Buddy, Optimism was highlighted as entering a consolidation phase after a steep correction. The 6-hour chart shows that price action has paused between support and resistance, with bearish momentum still present but gradually weakening.
Finora notes that a decisive push above the $0.4710 resistance could confirm the start of a corrective rally, with upside targets near $0.4970 and potentially $0.6337 if buying pressure intensifies.
Source: X
On the downside, failure to sustain a breakout above $0.4710 could lead to renewed selling pressure, testing support around $0.3906. Finora emphasized the importance of confirmation signals, such as a bullish engulfing pattern or a strong retest, before entering any long positions. This cautious approach reflects the mixed sentiment currently surrounding the coin market, as traders await a clear directional shift before committing significant volume.
According to BraveNewCoin, Optimism is currently trading at $0.45, marking a 1.54% gain in the past 24 hours. The token’s market capitalization stands at $847.96 million, with a daily trading volume of $52.31 million and a circulating supply of 1.89 billion tokens. The modest recovery comes as the token attempts to reclaim lost ground following its prolonged downtrend.
Source: BraveNewCoin
Despite broader market uncertainty, the asset’s steady performance reflects growing confidence among holders, particularly near the $0.44–$0.45 range. Price data shows consistent trading activity within this consolidation zone, suggesting that market participants may be accumulating ahead of a potential trend reversal. With volatility subdued, a breakout above resistance could be the trigger for renewed bullish momentum across the coin ecosystem.
On TradingView, Optimism’s daily chart shows the token stabilizing near $0.4483 after a sustained decline from the $0.88 resistance. The Bollinger Band Power (BBPower) reading of -0.0391 reflects weak but fading bearish momentum, implying that selling pressure has cooled and volatility is narrowing. This could mark the early stages of a reaccumulation phase, with buyers gradually positioning for a potential recovery toward the $0.55–$0.60 range.
Source: TradingView
Meanwhile, the Chaikin Money Flow (CMF) indicator stands at +0.03, signaling modest capital inflows and a gradual return of buying interest. This positive CMF reading suggests that liquidity is shifting back into the market as selling slows.
A sustained move above $0.47 could confirm renewed strength, potentially setting the stage for a rebound. However, if momentum weakens again, the asset may continue consolidating within its current range before making a decisive move.
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