With Altcoin Market ready to return up, optimism is about to create a new climbing cycle. Maintaining dominance above its psychological level is $ 1, optimism is due to the climbing path. Currently, the distinctive symbol of optimism is traded at the market price of $ 1.15, with an increase in the day by 3.67 %. Will this recovery extend in optimism with a rally to reach a sign of $ 2? Let’s discover.
Op Trend Trend and the formation of the Habboudian channel
In the daily graph, the direction of the reference price reveals the next channel style. The declining pattern started after a rise in early December 2024 at $ 2.67.
With the rejection of multiple higher prices, the fall created a downward channel. Within the declining flow, the optimism code decreased by approximately 65 %. However, the bulls maintained their dominance in the psychological brand one dollar. On February 8, optimism restarted a bad emerging cycle inside the canal of the falling canal with the morning star at one dollar.
Currently, the symbol regains about 15 % and aims to challenge the upper direction line. Moreover, the recovery inside the day hints to the morning star style to get a secondary rising boost. The upper direction line stands near $ 1.30. The bullish closure above this increases the direction of the optimism price.
Technical indicators indicate the enhancement of momentum
To support the upscale opportunities, the daily RSI line rose back after visiting the sale area. Currently, the momentum index approaches the mid -road level, which reflects the increase in purchasing pressure.
However, the declining trend in the dynamic average line offers short -term resistance regardless of the resistance direction line. Given that the RULL RUN managed to close over the upper trend line, the OP code can rise towards the level of 61.80 % Vibonacci at $ 2.38.
On the other hand, psychological support is likely to hold at a value of $ 1 on any short -term increase in supply. However, it highlights the negative risks about 14 %.
Analyst predictions: Ali Martinez sees a 24 % increase
Support the upscale opportunities for a huge height in OP, Ali Martinez, an encryption analyst, Tweets Gallery pattern. Within the price scheme, the analyst highlights the pattern of the upward triangle with the top ceilings near $ 1.19 and $ 1.21.
The upward closure above this is possible to increase optimism to a 24 % increase, according to the analyst. If the bulls exceed these main levels, optimism may enter into a constant gathering.
