Since early June, Optimism (OP) has reattracted the attention of traders, with bullish signals appearing in both the spot and derivatives markets. The Taker CVD of spot buyers shows a strong buying advantage, and open interest has increased by 18.14% to $195 million, indicating an increase in leveraged exposure and potential volatility. However, the net flow from large holders dropped sharply by 62% in the past week, suggesting that whales may be taking profits. Network activity is on the rise, with daily active addresses and new addresses both increasing, supporting the bullish momentum. The 30-day volatility of OP is at a low of 105.26%, often signaling that a strong market move is imminent. The resistance level at $0.61 is crucial; breaking through this point could trigger short liquidations and a price breakout, while failing to do so could lead to a sharp pullback. Overall, the outlook is bullish, but caution is still needed due to whale exits and the presence of key resistance.
