Optimism shows early bullish divergence despite current bearish technical signals.
RSI nearing 50 may signal reversal if MACD also shifts from negative territory.
June inflows and price uptick suggest renewed accumulation and rebound potential.
The price of Optimism (OP) has experienced a sharp 17% drop over the past seven days, stirring concern among investors.
However, technical analysts are now closely watching for signs of a potential price reversal as the token tests historical support levels and forms a bullish divergence pattern on its chart. The token, as of press time, is trading at $0.5612 for now.
Bullish Divergence May Be Building
According to market analyst Michaël van de Poppe, Optimism is showing signs of forming a large bullish divergence. Significantly, its price has hovered around the 0.00000053 support level, suggesting a potential base is forming.
Break above 0.00000080 could invalidate the downtrend and trigger a bullish rally. Van de Poppe believes this turning point is imminent, suggesting OP could soon become a strong buy opportunity if momentum continues to build.
A massive bullish divergence is applicable for $OP.
Th…
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