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Optimism Price Prediction: Resistance at $0.688 Holds Firm After Sharp Decline
- The Optimism price prediction shows resistance at $0.688 holding firm after a sharp decline, with the current price testing buyers near $0.63.
- Daily chart signals point to renewed bearish momentum, with lower highs and lower lows indicating ongoing weakness in OP/USDT.
- The breakdown below the $0.688 resistance zone confirms the failure of bulls to dominate, with the price hovering near $0.645 at analysis time.
- The range between $0.688 and $0.638 acts as a persistent rejection zone, with selling pressure halting recovery attempts.
- Brave New Coin reported a 9% drop in OP/USDT, accompanied by a spike in volume, indicating strong bearish participation.
- The intraday chart shows lower highs and lower lows, with resistance near $0.64 remaining unbroken and leaving OP vulnerable to further downside.
- Weekly indicators support a bearish continuation, with a clear descending pattern and negative readings on indicators like CMF and MACD.
- The outlook for Optimism remains bearish below $0.688, with the $0.573 support level critical and a potential bounce zone.
- Short-term price movement is influenced by technical factors and market sentiment, suggesting further weakness until reversal signals emerge.
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