Bullish Price Prediction for Today March 7 – Operating Income Technical Analysis

adminMarch 8, 2024

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Optimism price predictions show that the more a coin moves above its moving average, the stronger its operating performance becomes.

Optimism (OP) hits all-time high and surges dramatically to $4.66

As data from on-chain analyst IntoTheBlock shows, all OP token holders are currently earning based on current prices. The token price has soared recently, reaching its latest milestone after the highest paid price reached 4.01%. This price increase follows the growing popularity of L2 scaling solutions, allowing OP Token to benefit from being one of the leading L2 solutions on the market.

Optimistic Forecast Statistical Data:

Current price of optimism – $4.35
Optimist market capitalization – $4.69 billion
Optimism Circulating Supply – 4.29 billion
Optimism total supply – 4.29 billion
Optimism Coinmarketcap Ranking – 29th

OP/USD market

Main level:

Resistance levels: $5.50, $6.00, $6.50

Support levels: $3.00, $2.50, $2.00

Bullish Price Prediction for Today March 7 – Operating Income Technical Analysis — OPUSD – daily chart

OP/USD may continue its upward trend as the coin is currently trading at $4.35 with a bullish crossover and intraday trend. Currently, the bullish price is heading towards the upper boundary of the channel as higher resistance may come next in the positive direction.

Optimism Price Prediction: Optimism Price May Rise

Optimism is likely to increase the bullish movement if the price rises and heads towards the upper boundary of the channel. There is a high possibility that the current 9-day moving average will exceed the 21-day moving average. It can send a bullish signal to the market to encourage more buyers.

Meanwhile, if the bulls increase the buying pressure, it is for confirmation that the coin will head north and the bullish price may reach the nearest resistance levels of $5.50, $6.00, and $6.50 respectively. Conversely, if the 9-day moving average falls below the 21-day moving average, there may be a slight pullback south, pushing the market price towards support levels of $3.00, $2.50, and $2.00.

OP/BTC continues to fluctuate.

Compared to Bitcoin, optimism (OP) could push the price higher, pushing it above the 21-day moving average. Meanwhile, the cryptocurrency is likely to see a bullish move if the 9-day moving average crosses the 21-day moving average due to the fact that the market continues to move in the same direction within the channel.

Nonetheless, if buyers push the market price towards the channel upper limit, it could break this barrier and reach resistance levels above 9179 SAT. Meanwhile, traders should watch out for strong selling pressure that could push the price below the lower limit of the channel. This could attract new sellers coming into the market, focusing on support levels below 3800 SAT.

However, @AltcoinSherpa shared with his 210,000 followers on OP is currently going through a clear price discovery phase and appears to be taking the lead, with ARB expected to soon follow. Nonetheless, its operating margins are likely to be stronger competitors, making it a preferred choice for investment.

ETH Beta: I think $OP looks better than $ARB Right now. OP appears to be leading the way in clean price discovery. Looks like ARB will soon catch up. But OP is probably a better choice because it shows more strengths. pic.twitter.com/iJHT59MDG2
— Altcoin Sherpa (@AltcoinSherpa) March 7, 2024

Alternative to Optimism

Optimism (OP) is showing signs of potential bullish momentum near the upper channel boundary and traders expect this trend to continue. Additionally, the 9-day moving average crossing above the 21-day moving average suggests the emergence of a new resistance line. Despite Optimism’s solid presence in the cryptocurrency market with a market capitalization of $4.69 billion, Bitcoin Minetrix ($BTCMTX) presents an attractive investment opportunity with a significant pre-sale valuation exceeding $11.8 million, indicating promising growth potential. Pay it.

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